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
Active Pharmaceutical Ingredients (Also API's)/ Bulk Drugs are biological active ingredients used to manufacture finished pharmaceutical products and intended to be used for pharmacological activity.
Check out: How to start manufacturing unit of Bulk Drugs/ Active Pharmaceutical Ingredients (API)?
Active Pharmaceutical Ingredients or Bulk Drug includes any pharmaceutical, chemical, biological or plant product including its salts, esters, isomers, analogues and derivatives, conforming to standards specified in the Drugs and Cosmetics Act, 1940 and which is used as such or as an ingredient in any formulation.
Some example of Active Pharmaceutical Ingredients are Paracetamol Powder, Diclofenac powder etc.
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