Companies also team marketing and clinical research staff early in the drug development process to better focus research areas. Finally, they enter into co-marketing or licensing agreements and form alliances with foreign companies to share research and expand markets. Manufacturing practices Pharmaceutical manufacturers must follow required safety standards. They must establish control methods that result in products that meet professional requirements for potency, quality, stability, uniformity and purity. Other regulated areas include personnel training and experience levels, written procedures and product expiration dating.
Pharmaceutical companies follow basic marketing principles to achieve favorable profit margins.
They try to sell therapeutically and commercially valuable products at competitive prices through the appropriate promotional strategies. Market research informs pharmaceutical companies about the needs of targeted customers, including physicians and patients. Later, it enables manufacturers to determine how much product to produce. Analyze the markets that drugs are entering. Profile key prescriber characteristics.