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
Query: I have been reading your articles. It would be great if you can give me some clarity. I want to get some skin care products manufactured under my brand,I need some information regarding that:- 1) What all approvals and licenses, I would require as a marketed by company. 2) What all certificates I should check of the manufacturer. Response: Skin care products can be manufactured by three ways: As Pharmaceutical Products (Dermatology Products) As Cosmetic Products As Ayush ( Ayurvedic, Unani, Siddha and Homeopathic Product ) Most probably you want to launch skin care general products manufactured as cosmetic products. So, we will provide clarity by assuming, you want to start cosmetic skin care products. 1. You will not need any approval or license to cosmetic skin care products under your brand name. You only require to have trademark registration for protecting your brand name intellectual rights. All approvals will be carried out by the cosmetic manufacturer and manufacturer
