Pharmaceutical waste management is a significant issue with far-reaching effects on the environment and public health. Evaluating how successfully pharmaceutical waste disposal methods preserve public safety and the environment is the key objective. The goal of this study is to highlight the areas where the current approaches to managing pharmaceutical waste need to be improved. It is necessary to understand how regulatory frameworks impact waste management methods to develop comprehensive solutions. By analyzing the connections among waste segregation strategies, regulatory compliance, and waste management efficacy, this study seeks to offer pertinent information to pharmaceutical companies and healthcare facilities. Partial least squares structural equation modeling (PLS-SEM) is used in this study to investigate 305 respondents’ approaches to managing pharmaceutical waste. Historical literature has highlighted the lack of knowledge among the public on the correct disposal of pharmaceutical waste. By examining the relationship between waste management strategies and their outcomes, this study promotes sustainability in the pharmaceutical sector. The findings clarify the factors influencing the efficacy of pharmaceutical waste management plans. As prior research has indicated, regulatory compliance is one potential mediating factor in this investigation. The implications of this discovery are twofold. First, providing regulatory authorities and legislators with updates on pharmaceutical waste management methods can aid in the creation of tougher legislation. Second, pharmaceutical companies can use the findings of this study to improve waste management plans, reduce their environmental impact, and support their sustainability initiatives.