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
Question:
I want to start my own pharma company and I am not sure that with which medicine should I began my journey with.
I will be very grateful if you can help me to find a medicine with future potential and less market competition. I hope you will help me with this.
Answer:
I recommend you to start with a product that you can easily procure at small quantity whether it has high competition or less
Question:
Can you tell me some important steps while selecting one
Answer:
One criteria is to have experience in that product
Second , you can get it in small quantity as you have investment less and prevent money for other products
Question:
Sir I have one more question
With which type of people should I start my company with
Answer:
A business require different-different types of knowledge and experience. You should involve with persons having different experience from you.
Like if you have marketing experience then you need account knowledge person
Means you need person who fulfill experience criteria that you don't have
Question:
Is it better to start in local city or big ones like delhi or mumbai
Answer:
You won't find any issue even if you start from your city. Just try to keep your expenses at minimum
As it takes long time to succeed.
Question:
Is there any requirement of specialization in any topic like molecules or something else for success
Answer:
No, Most of time marketing and sales knowledge is enough to succeed.
Question:
Sir do you prefer any particular formula or molecule that might be better for startup
Answer:
I can't recommend as I don't know what type of knowledge and experience you have.
Always select molecule based upon your experience and above mentioned criteria.
As per my experience, success depend at you rather than any particular formula or molecule.
I always launch my product based upon whether it is easily procurable or not and it should be scalable also.
I want to start my own pharma company and I am not sure that with which medicine should I began my journey with.
I will be very grateful if you can help me to find a medicine with future potential and less market competition. I hope you will help me with this.
Answer:
I recommend you to start with a product that you can easily procure at small quantity whether it has high competition or less
Question:
Can you tell me some important steps while selecting one
Answer:
One criteria is to have experience in that product
Second , you can get it in small quantity as you have investment less and prevent money for other products
Question:
Sir I have one more question
With which type of people should I start my company with
Answer:
A business require different-different types of knowledge and experience. You should involve with persons having different experience from you.
Like if you have marketing experience then you need account knowledge person
Means you need person who fulfill experience criteria that you don't have
Question:
Is it better to start in local city or big ones like delhi or mumbai
Answer:
You won't find any issue even if you start from your city. Just try to keep your expenses at minimum
As it takes long time to succeed.
Question:
Is there any requirement of specialization in any topic like molecules or something else for success
Answer:
No, Most of time marketing and sales knowledge is enough to succeed.
Question:
Sir do you prefer any particular formula or molecule that might be better for startup
Answer:
I can't recommend as I don't know what type of knowledge and experience you have.
Always select molecule based upon your experience and above mentioned criteria.
As per my experience, success depend at you rather than any particular formula or molecule.
I always launch my product based upon whether it is easily procurable or not and it should be scalable also.
Comments
Post a Comment