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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
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Who controls the pharmaceutical industry?

In India, the pharmaceutical industry is one of the most regulated industry. Pharmaceutical Industry is regulated through Drug and Cosmetic Act & Rules. The Drugs and Cosmetics Act & rules regulates the import, manufacture, distribution and sale of drugs in India along with other regulations 7 act like Drugs (Price Control) Order, The pharmacy act, 1948, The Drugs and Magic Remedies (Objectionable Advertisement) Act, 1954, The Narcotic Drugs and Psychotropic Substances Act, 1985 etc.

These regulations is implemented through licensing system. For conducting any type of business in pharmaceutical i.e. import, manufacture, distribution, retail, dispense, sale etc, there is requirement of particular license and registration. 

Drug license helps the government monitor and regulate the import, export, manufacture, distribution and sale of medicines in India, making your business credible and trustworthy. 

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