Every industry has its own jargon that is hard to interpret by the people who do not belong to that industry. Today, we are going to bring to you 4 words belonging to the pharma industry and the meanings that can help you understand better once you enter the industry. So, here it goes – Paracetamol brand name in India
AMP (Average Manufacturer Price)
Widely known as AMP, the average manufacturer price is the price at which retail stores purchase drugs from the manufacturers after considering all the rebates and discounts. This price is now available for the general public but only disclosed to the internal parties. Paracetamol brand name in India
GPO (Group Purchasing Organizations)
GPO, also known as a group purchasing organization, comprises of groups of pharma products buyers who purchase large amounts of quantity at a lower price. The group purchasing organization is formed by entities like hospitals, health care institutions, and pharmacy stores. The wholesalers from whom they buy are mostly manufacturers like Meghmani, a well-known paracetamol brand name in India. Based on the amount of quantity, reductions, discounts, and rebates are offered to GPO.
NDC (National Drug Code)
The NDC plays a vital role in tracking the drugs that are out in the market, where they are exactly going and how they are being utilized. The drugs manufactured are assigned a numeric code that is used for the purpose of identification. This code can be divided into three distinct parts – Paracetamol brand name in India
- The first part tells about who labeled the product
- The second part tells about which product it is
- The third part tells about who packaged the product
It is a drug produced using one or more living organisms. They are also known as ‘large molecule’ drugs. They are administered by a professional through injection and not directly taken by the patient.
The terms used in the pharmaceutical industry can be a little bit difficult to understand for laymen. However, when you consume a drug or something related to the pharma industry in some manner, it is better to have knowledge about some basic terms.