Discussion
The formula for calculating the retail price of a pharmaceutical formulation is :-
Answer: D
The formula is (M.C. + C.C. + P. M. + P. C.) × (1 + MAPE/100) + E. D.
This is the retail price formula of the Drugs (Prices Control) Order, 1995. The terms are:
- M.C., material cost of the drug (bulk drug and excipients)
- C.C., conversion cost
- P.M., cost of packing material
- P.C., packing charges
- MAPE, maximum allowable post-manufacturing expenses, as a percentage
- E.D., excise duty
The manufacturing costs are added and then marked up by MAPE. The first option leaves out packing material and divides instead of multiplying, the second multiplies conversion cost by packing material, and the third multiplies by 100 and drops MAPE and excise duty.
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