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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

Am I eligible to apply for drug dealership license as Financial Analyst

Query: I am looking to start distributor business in Pharmaceutical so I need complete details from license procedure to apply for distributor ship. Can you please provide the details over email?
Also, I have question that Am I eligible to apply for drug dealership license if I don't have an experience in drug dealership? As I have done MBA in finance and have worked in finance company as Finance Analyst but now, I am interested to start distribution business in pharmaceutical at my place and also please suggest which pharma company's dealership I can apply for on the basis of profit, easy dealership process and formalities, etc. 

Response: For starting distribution in pharmaceutical sector, you require to have wholesale drug license and GST number.

Check out: Procedure and details for applying wholesale distribution license here

You are not eligible for applying for wholesale drug license on the basis of your experience as Finance Analyst. You must have either minimum of one year experience at drug agency or you must be a registered pharmacist.

If we talk about suggestion then this part is to be completed by yourself as we don’t recommend companies. You can search for pharma companies’ dealership on the our Business2Business Portal

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