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
Drug License: Pharmaceutical Business in India is regulated business and there is requirement of licenses and registrations to do any business related to drugs and pharmaceutical products. Pharmaceutical business is regulated through Drug and Cosmetic Act & Rules in India. Drug and Cosmetic Acts & rules details the provisions to regulate the import, manufacture, distribution and sale of drugs and cosmetics (Including ayush drugs ). Licenses require to conduct drug business is known as Drug License. Definition of Drug License: Drug license is defined as the license or permission provided by Licensing authority appointed by concern state drug department to conduct business related to drugs and pharmaceutical products in that state. There is different type of business activities related to drugs like import, manufacture, distribution and sale. Each type of business requires different types of permission or license. For importing, import permission is required. For manufacturi
