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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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Documents required to start Medical Store in India

Question:
My name is ----- and currently I am working in small pvt company and now I am looking to start business (Medical Store) and my younger brother has D Pharma and Chemist license so what is the next steps.
I have own shop so please need your kind help to complete documentation asap.

Answer:
Next step is to apply for a Retail Drug License at the Drug Licensing Authority (Mostly District Drug Inspector) office after completing all documents and requirements specified.
Detail of documents required for retail drug license:
  • Application Form
  • Pharmacist registration certificate photo copy.
  • (If proprietor or one of partner is not registered pharmacist, appointment letter and affidavit of pharmacist will be submitted along with registration certificate copy of pharmacist)
  • Academic qualification certificates of pharmacist
  • Date of birth proofs
  • Prescribed fees
  • Ownership proof or in case rented premises, rent agreement with owner detail.
  • Purchase bill receipt photocopy of refrigerator
  • Partnership deed in case of partnership firm
  • Affidavit of proprietor or partners
  • Address proof
  • Blueprint /layout plan of premises in 3 copies

Check in detail: How to start a medical store in India?
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