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
What is Prescription? Prescription means a written or electronic direction from a Registered Medical Practitioner or other properly licensed practitioners such as Dentist, Veterinarian, etc. to a Pharmacist to compound and dispense a specific type and quantity of preparation or prefabricated drug to a patient. Types of Prescription : Generally we can categorize prescriptions in three types Prescription for Extemporaneous preparations. Prescription for Official preparations. Prescription for Patent preparations Contents of the Prescription : A Prescription contains generally following contents: Prescribers office information – [Name, qualification, address & Regn. No.] Patient information – [Name & address, Age, Sex, Ref. No.] Date Rx Symbol or superscription Medication prescribed or inscription Dispensing directions to Pharmacist (or) subscription Directions for patient [to be placed on label Refill, special labeling and /or other instructions Prescriber’s signature and lic
