Pharmaceutical companies typically use a variety of factors to determine the price of their drugs, including: Development and production costs: Pharmaceutical companies invest significant amounts of money into the research, development, and production of new drugs. The cost of these activities, including clinical trials and obtaining regulatory approval, is factored into the price of the drug. Marketing and Distribution Cost: Marketing and distribution costs may also be considered by pharmaceutical companies when determining drug prices. These costs include expenses related to advertising, sales representatives, and distribution networks. Drug Uniqueness: If a drug is the first of its kind or represents a significant improvement over existing treatments, the pharmaceutical company may set a higher price for it. If a drug has many competitors or is like existing treatments, the company may have to set a lower price to remain competitive. Market demand: Companies also consider the dem
Pharma Company registration Procedure:
Pharmaceutical company requires many types of registration and licenses. A pharmaceutical company can be started by setting up a firm or registration of company. Along with firm/company registration, a pharmaceutical company also requires following licenses and registration to start with.
- Drugs manufacturing license
- Wholesale drug license number
- Drug Testing Laboratory License
- Good manufacturing Practice certificate
- Goods and Service Tax Registration
- Factory Act registration (if required)
Step wise procedure for pharma company registration (Major steps involved):
- Choose Name for pharmaceutical company you want to launch
- Prepare a project report and business plan (including investment required, fund available, site master file, staff required, number of products want to start with, target customer type, time of completion, opportunities, challenges, scope etc)
- Setting up a proprietorship /partnership firm or register as a company
- Apply for licenses and registrations
Check out: How to choose name for pharmaceutical company?
Check out: How to prepare a business plan?
Check out: Other business opportunities in pharmaceutical sector
There are two types of pharmaceutical companies- one is pharmaceutical marketing company and second is pharmaceutical manufacturing company. Both require different types of challenges and requirements. Pharmaceutical marketing company is easy to set-up and less expensive project as compare to pharmaceutical manufacturing company. Check out details of starting pharmaceutical marketing company here and details of starting pharmaceutical manufacturing company here
A person can set-up firm either on proprietorship basis or on partnership basis. Proprietorship firm is not required to register at state government registrar but in case of partnership firm, firm is compulsory to register under Indian partnership act, 1932 at state government registrar. You can register your firm at your concern state.
If you want to take one more step forward and go for company registration then you can apply for company registration at ministry of corporate affairs website or proceed through Chartered Account (CA).
Different types of licenses and registration requires different requirements and procedure.
Hope above information is helpful to you...
There are two types of pharmaceutical companies- one is pharmaceutical marketing company and second is pharmaceutical manufacturing company. Both require different types of challenges and requirements. Pharmaceutical marketing company is easy to set-up and less expensive project as compare to pharmaceutical manufacturing company. Check out details of starting pharmaceutical marketing company here and details of starting pharmaceutical manufacturing company here
Setting up Firm:
A person can set-up firm either on proprietorship basis or on partnership basis. Proprietorship firm is not required to register at state government registrar but in case of partnership firm, firm is compulsory to register under Indian partnership act, 1932 at state government registrar. You can register your firm at your concern state.
Documents required for registration of partnership firm:
- Prescribed form and Fee
- Partnership deed
- Ownership proof of business place or rent agreement
- Residential and identity proofs of partners
- Affidavit/NOC if any
Register as a Company:
If you want to take one more step forward and go for company registration then you can apply for company registration at ministry of corporate affairs website or proceed through Chartered Account (CA).
Step involved in registration of Company:
- Choose atleast six name in desirable sequence
- Apply to concern RoC to ascertain availability of name in eform 1A at portal
- After name approval, you can apply for registration of company by filling the required forms within 60 days of name approval
- Arrange documents and fill the forms and attached mandatory documents
Documents required for registration of Company (related to partners/person/place):
- DSC (Digital Signature Certificate)
- DIN (Director Identification Number)
- PAN (Permanent Account Number) Card
- TAN (Tax Deduction and Collection Number)
- Identity Proof (Electronic ID / Aadhar Card / Passport / Driving License)
- Passport size Photo
- Address Proof (Bank Statement / Mobile Bill / Telephone)
- Rent Agreement (Notarised: For rented property) or Ownership proof
- Latest Electricity Bill
- MOA(Memorandum Of Association) and Article Of Association
- NOC if required
Apply for licenses and Registrations:
Different types of licenses and registration requires different requirements and procedure.
- Check out detail about Drug manufacturing license here
- Check out details about Wholesale drug license number here
- Check out detail about Drug Testing Laboratory License here
- Check out detail about Good manufacturing Practice certificate here
- Check out detail about Goods and Service Tax Registration here
- Check out detail about Factory Act registration here
Hope above information is helpful to you...
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