Scientific Costing in Pharma

IMPLEMENTATION OF SCIENTIFIC COSTING IN BULK medicine AND R&D DEPARTMENT OF A PHARMA INDUSTRY Submitted By KAUSTUBH NIJASURE chthonic the guidance of Prof. P.M. Nayak A PROJECT SUBMITTED IN PART COMPLETITION OF MMS TO THE Vidyalankar land Of Technology Wadala (East), Mumbai 400 031 JULY 14th, 2008 Executive summary: Centaur Pharmaceuticals Pvt. Ltd. has following divisions: 1. Bulk Drug 2. Formulations 3. question and Development 4. Clinical Research It is a growing troupe which has currently 75% of its business spread in formulations and 25% in API. In coming 3 years the company is going to counseling on CRO, API, CRAM and domestic formulations. Centaur ranks among Indias top 50 pharmaceutical companies by prescriptions and by stockist audit. Centaur has demonstrated its competence in transforming products into strong brands, reinforced by successful extensions, resulting in a formidable presence in key therapy areas. Centaur is Indias largest manufacturing business and exporter of Psychotropic API and have introduced 24 API for the first time in India. Companys API manufacturing near Mumbai conforms to USFDA standards. Companies clientele includes Big Pharma, generic majors and Indian multinationals.

Objective: Currently the costing manner used by the company is absorption costing. In this regularity the cost of a particular product is found push through by dividing the depreciation of the political machine by the optimum sum of machine hours that entrust be taken to manufacture the product. This will give the management the price of the product. But many multiplication because of using this technique the price of the product quoted is very racy than the competitors. Hence the company loses on the order. To tackle this issue the company is installing new costing system which is based on German Cost Accounting Methodology. In this costing technique the cost of the product is identified by dividing the optimum machine hours that can... If you want to get a full essay, order it on our website: Orderessay

If you want to get a full essay, wisit our page: write my essay .