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
Starting a Pharmaceutical company is a dream project for every pharma professional. But most of us haven’t start own pharmaceutical venture due to lack of knowledge and procedure to start pharmaceutical company. Here we will try to help you to start your own pharmaceutical company. This article we cover complete detail that is necessary to start pharmaceutical company. We can divide pharmaceutical companies in two parts: Pharmaceutical Manufacturing Company Pharmaceutical Marketing Company These are two basic types of pharmaceutical companies. These can be further divided into following parts based upon their marketing, sale and work basis irrespective of marketing and/or manufacturing type. Branded Drugs Dealing Companies Generic Drugs Dealing Companies Pharma Franchise Companies Institutional Supply Companies i.e. supply to hospitals, colleges, departments etc Over the Counter (OTC) Drugs Dealing Companies Online Pharmacy Company Exporting Companies Importing Compani