Skip to main content

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

If Pharma degree not there, what is the alternative to open medical store?

 


Today we will discuss about a query. Query is that I am chemical engineer having 10-year experience in pharmaceutical sector. My doubt is that my shop is at first floor. Is it eligible for pharmacy (retail drug license) or not? and if I want to take retail drug license then pharmacist is compulsory or not. If I don't have pharmacy degree then what is alternative for that

If we talk about retail drug license then drug authority shouldn't have any objection for first floor. They will grant you license for retail store/pharmacy store at first floor but point is that whether there is gathering or public for purchasing at first floor or not.

Because generally most of chemist shops are present at ground floor in market or nearby of hospital which is essential for them to run successfully. You need to consider that how a patient or his/her care taker will reach at your pharmacy if there is no market place at first floor.

I think drug authority shouldn't have any issue for granting retail drug license at first floor.

Now come to your second question If pharmacy degree isn't there then what is alternative

There is one common practice in India that you can employee a pharmacist. You can use your employee pharmacist registration for your pharmacy retail drug license.

if I talk practically that there is rented license system is very common in India. A pharmacist is shown as an employee. His/her pharmacist registration is used for taking retail drug license

you can do as like but if you want to go more ethical then you can hire a pharmacist having registration under state pharmacy council and take retail drug license at his/her pharmacist registration and employee him/her full time at your pharmacy store.

Having a full-time pharmacist employee is best possible alternative

Hope this information is useful to you...

Comments

Ayurvedic Medicine Company

Send Distribution/Franchise Query

Name

Email *

Message *

Register your business at

Find pharmaceutical, cosmetics, nutraceutical, ayurveda and alternative medicine's distributors, franchise, suppliers query for free.

If you want to take distribution, franchise or associates with any pharmaceutical, cosmetic or ayush company then you can find it here...

Popular posts from this blog

What are the Schedules under Drug and Cosmetic Act, 1940 & Rules 1945?

Schedules are the set of provisions for classifications of drugs, forms, fees, standards, requirements and regulations related to pharmaceutical, Ayurvedic (including siddha), unani and tibb system of medicines, homeopathy, blood and realted products etc under Drug and Cosmetic Act, 1940 and Rules, 1945. The schedule to the drugs and cosmetics act are Schedule A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y. Drug and cosmetic rules are divided into schedules alphabetically and named also alphabetically like Schedule A, Schedule B etc till Schedule Y. The schedules to the drugs and cosmetics act are important part. Every schedule contains specific information as discussed below. Schedule A:  Schedule A  describes application forms and licenses types. Download Schedule A Pdf Schedule B:  Schedule B  describes Fees for test or analysis by the Central Drugs Laboratories or State Drugs Laboratories. Download Schedule B Pdf Schedule B1: Schedule B1 describes

State Pharmacy Council, Its Constitution and Composition and Functions

State Pharmacy Council: State Pharmacy Council is constituted as per the Pharmacy Act, 1948 & State Pharmacy Rules, 1951. State Pharmacy Council is an authoritative council to regulate Pharmacy Act, 1948 & State Pharmacy Rules, 1951. What is state pharmacy council? State Pharmacy Council means a State Council of Pharmacy constituted under section 19, and includes a Joint State Council of Pharmacy constituted in accordance with an agreement under section 20 under the Pharmacy Act, 1948 & State Pharmacy Rules, 1951. State Pharmacy Council constituted and work under  Pharmacy council of India . Composition of State Pharmacy Council: The State Pharmacy Council consists of the following: i) Six members, elected from amongst themselves by registered pharmacists of the State; ii) Five members, of whom at least three shall be persons possessing a prescribed degree or diploma in pharmacy or pharmaceutical chemistry or registered pharmacists nominated by the State Governme

How to Register as a Pharmacist in India?

Who is a Pharmacist: Pharmacist is a person having educational qualification in pharmacy profession i.e. Diploma in Pharmacy or Bachelor in pharmacy or Pharma D etc. Who is a Registered Pharmacist: Registered Pharmacist is a person having educational qualification in pharmacy and his/her name is registered under state pharmacy council  of state in which person reside or want to conduct his/her profession or business . How to become a Registered Pharmacist? For becoming pharmacist in India, a person has to fulfill criteria as per Pharmacy Act. A person want to register himself/herself as a pharmacist should have at least minimum of Diploma in Pharmacy or Bachelor in Pharmacy or Pharma D. After completing above mentioned qualifications, you become eligible for registering as a pharmacist. If you have only Diploma in pharmacy, then 500 hours practical training spread over a period of not less than 3 months is also required to become eligible. download pdf After registering your name in s