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 came across your you tube video for wholesale business in pharma distribution . Actually I am interested in this business but I am not a pharmacist . However I have done BSc with biology and MBA and has also done job in a healthcare company who was a drug retailer for one year . So can I get the license . Please give me advise on this.
Response:
For taking wholesale drug license, you should fulfill either of qualifications i.e.- Either Registered pharmacist under state pharmacy council or
- Person having minimum of one year experience at registered wholesale drug licensed firm after graduation
But you have experience at a retail store company which is not fulfilling your eligibility for a wholesale drug license.
So, you need to fulfill the second criteria for taking a wholesale drug license if you are not a pharmacist.
Check out: How to start medicine wholesale business?
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