pharmaceutical pricing

Pharmaceutical pricing is the process of setting the cost of medicines, which involves several factors. Manufacturers consider research and development expenses, manufacturing costs, and the value the drug provides. They negotiate prices with governments, insurance companies, and pharmacies, who in turn set retail prices based on market demand and affordability. Factors like patent protection, competition from other drugs, and regulatory policies also influence prices. The goal is to balance providing incentives for innovation with making medicines accessible and affordable for patients and healthcare systems.