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The Complex Factors that Influence Drug Prices

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
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Maximum Retail Price (MRP)

Maximum Retail price (MRP) is the maximum price that can be paid by a patient or his care taker for purchasing a pharmaceutical product which is included of all taxes.

It is mandatory to show maximum retail price at products label/packaging. Pharmaceutical products MRP is regulated in India under Drug Price Control Order (DPCO). Molecules which are listed under DPCO list and maximum retail price is controlled by National Pharmaceutical Pricing Authority (NPPA). No Pharmaceutical manufacturer can fix Maximum Retail Price higher than fixed by NPPA,.

For molecules whose maximum retail price is not controlled by NPPA, pharmaceutical manufacturer has freedom to fix MRP as per their requirements

Check out: How to fix maximum retail price for medicines?

Related:
How to calculate Price to Retailer and Price to Stockiest?
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