STEPS TO START A PCD PHARMA COMPANY IN INDIA
The scope of the Pharma industry in India is immense and this industry is a hub of opportunities for those looking out for new avenues of investments. India’s pharmaceutical exports stood at US$ 17.27 billion in FY18 and are expected to grow by 30% to reach US$ 20 billion by the year 2020. Hence investing in the Pharma
Industry in India can be a profitable venture. But taking up any venture calls for the whole set of legal formalities to comply with and investment.
Similarly, starting a PCD Pharma Company in India calls for compliance with a lot of rules and regulations and terms. Let’s take a glance at the step by step procedure of setting up a PCD pharma company
Click here to get more info about: third party manufacturer
Chalk Out your business plan
A business plan is a blueprint that will guide your business from the very initial stage through the establishment and eventually business growth. It is a must for all new ventures. The type of your business plan would depend upon your finance requirement. If you want to seek financial help from banks or financial institutions then go for Traditional business plan. In this plan and if not, then a simple one-page business plan for you would suffice.
Plan your Finances
No company can be established without finance. So, knowing an estimated cost of establishment and the source to fund your business is very important.
Put together all the expenses that you would need to make in a spreadsheet (include property buying or leasing cost, licenses and permits, equipment and machines, infrastructure and building premise, market research, inventory, branding, insurance). Also add to it the working capital that you would need for running the business for at least a year (eg marketing and advertising, employee salaries, travel expenses, etc). Adding all these expenses would make you arrive at the figure of the initial investment required.
Next step is to look for Ways to Fund your business, it could be through your own equity or debt from banks or financial institutions.
Business structure
In the case of above 2 partners and below 50 partners, a company can be registered under private limited company or limited liability company and for the single proprietor, one can go for a one-person company.
Decide a good Business Name
The business name plays a vital role in all aspects and is a silent ambassador of your company. Decide Brand names of all products and make sure that these don’t resemble any other brand already existing in the market
Documentation, Licensing & Certification
Commencing a Pharmaceuticals Company in India needs licensing and approvals from various different authorities. Most of them are a one-time investment which may last a lifetime, while some may require renewal after a certain time period.
Drug License Number: Drug license number is necessary for every company to start distribution or marketing in India.
Company Registration: In case of above 2 partners and below 50 partners, a company can be registered under private limited company or limited liability company and for the single proprietor, one can go for a one-person company.
Food Safety & Standard Authority of India (FSSAI): Annual registration required.
Trade Mark: Trade Mark registration is necessary to safeguard one’s intellectual property. Trademark registration can be obtained for a business name, brand name, logo, tagline or caption, etc.
GSTIN: Pharmaceuticals and medical supplies in India are taxed at four separate rates of Nil, 5%, 12%, and 18%.
Set up your Business location
Including your office and a warehouse for storage. Ensure that all the premises that you select should have adequate space and are established as per Govt. norms.
Products selection and development
One can start a pharmaceutical company by getting manufactured one, two or three products. One doesn’t need to go with a big product list. Product selection is an utmost important prospect. Do proper research and prepare a list of all the molecules and combinations, you wish to launch in the market. Understand the market’s need and look for currently running & latest molecules those creating good market demand.
Finalize third-party manufacturers
Send quotation for minimum batch size and minimum possible rates to as many third-party manufacturers as possible (as it helps you crack the best deal). Select the best manufacturer who can assure you timely and quality services. Third party or contract manufacturers, manufacture products for you in their factories and save you from the hassle of running a whole manufacturing unit.
Place Your order with the selected Manufacturer
and make sure to send affidavit (specifying that the brand name of the product belongs to you and you will be totally responsible for any brand name or trademark conflict and manufacturer will not responsible for any conflict in future with respect to brand name or trademark). Manufacturers also ask for a scanned copy of your drug license number and GST number.
Make agreements/contract with them
specifying the agreed terms and conditions and the other details about the deal.
Start Building your Team
Make sure that you hire experienced people. Appoint only registered pharmacists and carefully select the whole sellers or super-distribution companies who would push your product in the market in the best manner. You would also need MR to visit and promote your products to doctors.
Promotion and Marketing
of the products and brand name can really turn around the sale game and make a company earn huge profits.
For more info visit here: generic medicines
Design a good logo for your brand and choose it wisely as a logo says a lot about a brand silently.
Packaging and Labelling do more than just protecting and storing a product. They play a vital role in promoting and developing the image of a brand in a market.
Prepare visual ads, product cards, and promotional materials.
Design a good website and run ads on the internet.
Myths about Branded-Generic Medicines
The medication of Branded-Generic drugs is created to be same as of already existing and marketed patent drugs be it in dosage form, safety, strength, route of administration, quality, performance characteristics, effectiveness and intended use of the drug. Branded-Generic drug makers certainly bring competition to the drug market because of their low-priced drugs. But still, some patients prefer using patented ones instead of Branded-Generic ones. Let’s look at the myths our population has in their minds regarding Branded-Generic medicines.
Click here to get more info about:pharma company in India
Myth 1: Many of you must have had this question quite a few times in your mind despite Branded-Generic drugs being cheaper assure you same quality and effectiveness as of patent drug how?
The fact behind this is Branded-Generic drugs are cheaper as compared to patent drugs because in that case, the manufacturers did not have to spend on the expenses of developing and marketing a new drug. Whenever a company introduces a new drug into the market, the company has already spent a substantial amount of money on research, development, marketing and promotion of the drug. All that the Branded-Generic drug manufacturers have to do is a basic level of marketing of the new Branded-Generic drug. A patent is henceforth granted to the firm that developed that very particular drug which further gives the company an exclusive right to sell the drug as long as the patent is in effect.
Myth 2: Branded-Generic drugs compromise on quality standards in the production phase.
It’s not true. The fact is the production of all Branded-Generic drugs follow the same quality standards for making, testing and packaging of drugs as the patented manufacturers do. In fact, sometimes, many Branded-Generic drugs are produced in the exact same factory where the patent drugs were produced following the same measures and standards as the patented drugs had gone through.
Myth 3: Branded-Generic Drug makers sell their products at slashed prices.
The reason why Branded-Generic drug makers can sell their product at lower prices is that their drugs do not compromise in terms of quality with patent drugs. Branded-Generic drug sellers sell at a lower price because they do not have to recover anything like their initial investment in research and development, clinical trials nor do they have to spend millions on tv commercials and marketing campaigns as the patented drug producers typically do. All they have done is spent an amount on the basic level of marketing of the newly launched drug. The Branded-Generic drug manufacturers can thus pass these cost savings on to their patients.
Myth 4: Branded-Generic drugs are not as effective as patent drugs.
It’s not true. Branded-Generic drugs have to prove bioequivalency with the patent drug showing that the drug works in the same manner in the human body as a patent drug does. Sometimes, Branded-Generic versions of the drug have different colors, flavors, or combinations of inactive ingredients than the original medications but don’t need to worry they have the same medicinal effects as patented ones.
For more info visit here:third party manufacturer
As the expense of healthcare services keeps on taking off over the rate of inflation, Branded-Generics are an uncommon source of healthcare savings. As the above rundown shows, there’s no distinction in the adequacy or quality manufacturing standards among Branded-Generics and patented drugs. Surely, they are both frequently created in precisely the same generation plant under the very same conditions. While you may not feel any distinction in your body, you can unquestionably feel it in your pocket.
How PCD Pharma Franchise are changing the Indian Pharmaceutical Industry in India?
In the past few years, along with other sectors, India has seen a humongous growth in the Pharmaceutical Industry. With the increasing scope of Pharma Franchise and PCD pharma company in India, it is certainly not wrong to say that PCD Pharma Franchise acts as a spine for Pharmaceutical companies in India. The pharmaceutical companies give rights for marketing and distribution to the PCD Franchise holder in the PCD (Propaganda-cum-distribution) model. Hence, the franchise holder is responsible for further marketing and selling of products of that very pharmaceutical company.
Click here to get more info about: third party manufacturer
Benefits the Pharmaceutical Industry is reaping through PCD Pharma Franchise
Availability of all drugs every time
Prompt delivery of medicine range
Employment opportunity to huge masses
Chance to be a leading industry
Choosing a Good Pharma Company
Choosing a good and right pharma company is very essential to earn huge profits. It is a very critical aspect of the whole business. There are various points that are to be kept in mind while you are planning to take a PCD Pharma Franchise. They are:
The products offered by the company should be of good quality.
You should also check if the products that the company is offering, have gone through strict quality check parameters or not.
Existing profitability of the organization.
The company which has been shortlisted by you should have at least 5-6 years of experience in this domain.
Make certain that the Pharmaceutical Company with which you are wishing to sign the agreement has a reputable market value and goodwill in the market.
Dedicated customer service is of great value these days. If you want a quick redressal of your complaints and issues then you need to opt for a company that has tremendous customer support and service.
Before signing the agreement make sure that the company has proper legal documentation.
Promotional Inputs you will be given if you choose a good Pharma Company
Almost all the pharmaceutical organizations offer you a wide range of items like:
Working Bags
Visual Aid
Reminder Cards
Product Card and Brochures
Writing Pads and Diaries
Catch Covers
Business visiting cards.
The promotional inputs provided to you should have variety and good quality. All these products are made available to the PCD Pharma Franchise owner in ample amount to increase the visibility of the product and certainly the brand.
For more info visit here: generic medicines
Conclusion
Well, signing a PCD Pharma Franchise could be of superb proposition from a profitability point of view. The amount of payback you can make from this business definitely depends on your strong network, capability, and sincerity towards your work. The more will be the sales, higher will be the revenues and hence would yield you better profits. One needs to put on their tremendous efforts in this industry to achieve much more benefits. We hope that this article helped you understand how the franchise business has been changing the pharmaceutical industry in India.
STEPS TO START A PCD PHARMA COMPANY IN INDIA
The scope of the Pharma industry in India is immense and this industry is a hub of opportunities for those looking out for new avenues of investments. India’s pharmaceutical exports stood at US$ 17.27 billion in FY18 and are expected to grow by 30% to reach US$ 20 billion by the year 2020. Hence investing in the Pharma
Industry in India can be a profitable venture. But taking up any venture calls for the whole set of legal formalities to comply with and investment.
Similarly, starting a PCD Pharma Company in India calls for compliance with a lot of rules and regulations and terms. Let’s take a glance at the step by step procedure of setting up a PCD pharma company
Chalk Out your business plan
A business plan is a blueprint that will guide your business from the very initial stage through the establishment and eventually business growth. It is a must for all new ventures. The type of your business plan would depend upon your finance requirement. If you want to seek financial help from banks or financial institutions then go for Traditional business plan. In this plan and if not, then a simple one-page business plan for you would suffice.
Plan your Finances
No company can be established without finance. So, knowing an estimated cost of establishment and the source to fund your business is very important.
Put together all the expenses that you would need to make in a spreadsheet (include property buying or leasing cost, licenses and permits, equipment and machines, infrastructure and building premise, market research, inventory, branding, insurance). Also add to it the working capital that you would need for running the business for at least a year (eg marketing and advertising, employee salaries, travel expenses, etc). Adding all these expenses would make you arrive at the figure of the initial investment required.
Next step is to look for Ways to Fund your business, it could be through your own equity or debt from banks or financial institutions.
Business structure
In the case of above 2 partners and below 50 partners, a company can be registered under private limited company or limited liability company and for the single proprietor, one can go for a one-person company.
Decide a good Business Name
The business name plays a vital role in all aspects and is a silent ambassador of your company. Decide Brand names of all products and make sure that these don’t resemble any other brand already existing in the market
Documentation, Licensing & Certification
Commencing a Pharmaceuticals Company in India needs licensing and approvals from various different authorities. Most of them are a one-time investment which may last a lifetime, while some may require renewal after a certain time period.
Drug License Number: Drug license number is necessary for every company to start distribution or marketing in India.
Company Registration: In case of above 2 partners and below 50 partners, a company can be registered under private limited company or limited liability company and for the single proprietor, one can go for a one-person company.
Food Safety & Standard Authority of India (FSSAI): Annual registration required.
Trade Mark: Trade Mark registration is necessary to safeguard one’s intellectual property. Trademark registration can be obtained for a business name, brand name, logo, tagline or caption, etc.
GSTIN: Pharmaceuticals and medical supplies in India are taxed at four separate rates of Nil, 5%, 12%, and 18%.
Set up your Business location
Including your office and a warehouse for storage. Ensure that all the premises that you select should have adequate space and are established as per Govt. norms.
Products selection and development
One can start a pharmaceutical company by getting manufactured one, two or three products. One doesn’t need to go with a big product list. Product selection is an utmost important prospect. Do proper research and prepare a list of all the molecules and combinations, you wish to launch in the market. Understand the market’s need and look for currently running & latest molecules those creating good market demand.
Finalize third-party manufacturers
Send quotation for minimum batch size and minimum possible rates to as many third-party manufacturers as possible (as it helps you crack the best deal). Select the best manufacturer who can assure you timely and quality services. Third party or contract manufacturers, manufacture products for you in their factories and save you from the hassle of running a whole manufacturing unit.
For more information visit:pharma third party manufacturer
Place Your order with the selected Manufacturer
and make sure to send affidavit (specifying that the brand name of the product belongs to you and you will be totally responsible for any brand name or trademark conflict and manufacturer will not responsible for any conflict in future with respect to brand name or trademark). Manufacturers also ask for a scanned copy of your drug license number and GST number.
Make agreements/contract with them
specifying the agreed terms and conditions and the other details about the deal.
Start Building your Team
Make sure that you hire experienced people. Appoint only registered pharmacists and carefully select the whole sellers or super-distribution companies who would push your product in the market in the best manner. You would also need MR to visit and promote your products to doctors.
Promotion and Marketing
of the products and brand name can really turn around the sale game and make a company earn huge profits.
Design a good logo for your brand and choose it wisely as a logo says a lot about a brand silently.
Packaging and Labelling do more than just protecting and storing a product. They play a vital role in promoting and developing the image of a brand in a market.
Prepare visual ads, product cards, and promotional materials.
Design a good website and run ads on the internet.
Benefits of PCD Pharma Company in India
Are you interested to invest in PCD pharma company in India?
If yes, then this article is going to help a lot
Pharma sector is one of the leading and fastest-growing sectors and PCD Pharma franchise adds up to the growth of the same. If you are running a small business in the pharmaceutical business then it is time for you to invest your hard earned money in one of the top pharma companies in India. It can help you in earning and developing an undeniable business by providing an established platform. Thus, it makes a perfect choice for individuals to invest their money in PCD Pharma franchise and have a business of their own.
What is PCD Pharma Company?
The term PCD stands for Propaganda cum Distribution and is normally used in the Indian pharmaceutical companies. PCD term in pharma is utilized for advertising and distribution rights in the Pharmaceutical business. PCD Pharma companies are those companies which give products to its establishment accomplice and also the monopoly marketing rights for a specific geographic region or area.
Benefits offered by PCD Pharma Company in India:
In India, the demand for pharmaceutical drugs is growing day by day. Due to this, there is a lot of young people and entrepreneurs who are planning to start their own PCD Pharma company in India. Aside from the monetary benefits, there are other top benefits of PCD Pharma company.
Low Risk and Investment Requirement:
Any individual and entrepreneur can start their own PCD Pharma company with minimum investment. Apart from this PCD Pharma Company have very low risk associated with it which is one of the greatest benefit owing to a PCD Pharma Company in India.
Monopoly Rights:
PCD Pharma Company provides monopoly rights to its franchise partners. With the help of this marketing and distribution monopoly rights feature, franchise partners can choose their targeted areas for the distribution of Pharmaceutical products and medicines. They also get the freedom of choice to decide the stock which would be marketed in a targeted area.
Higher Opportunity for Growth and Development:
The Association with the pharma Company gives you a more noteworthy introduction and an engrained stage in India. Because PCD Pharma Company gives the monopoly to its franchise partners for marketing and distribution rights. Thus, it helps the franchise owner to get a stronghold over the marketing area.
Profitable Business:
In PCD Pharma franchise business you do not have to deal with sales target pressure. You have the freedom to run and grow business in your own ways making it a profitable business.
Availability of Resources:
PCD Pharma companies give a range of products, marketing materials and promotional matters to the people along with the Monopoly rights. Thus, the availability of resources becomes easier and business gets less expensive.
For more info visit here: generic medicines
Provide Large Established Platform:
In PCD Pharma franchise, one does not need to work really hard to set up the platform because these PCD Pharma companies have already well-established platforms. They provide exposure to individuals at the national and global level.
All the above-mentioned benefits of PCD Pharma company are real and one can easily avail these benefits by connecting with a PCD Pharma franchise in India.
How PCD Pharma Franchise are changing the Indian Pharmaceutical Industry in India?
In the past few years, along with other sectors, India has seen a humongous growth in the Pharmaceutical Industry. With the increasing scope of Pharma Franchise and PCD Pharma in India, it is certainly not wrong to say that PCD Pharma Franchise acts as a spine for Pharmaceutical companies in India. The pharmaceutical companies give rights for marketing and distribution to the PCD Franchise holder in the PCD (Propaganda-cum-distribution) model. Hence, the franchise holder is responsible for further marketing and selling of products of that very pharmaceutical company.
Click here to get more info about: PCD pharma company
Benefits the Pharmaceutical Industry is reaping through PCD Pharma Franchise
Availability of all drugs every time
Prompt delivery of medicine range
Employment opportunity to huge masses
Chance to be a leading industry
Choosing a Good Pharma Company
Choosing a good and right pharma company is very essential to earn huge profits. It is a very critical aspect of the whole business. There are various points that are to be kept in mind while you are planning to take a PCD Pharma Franchise. They are:
The products offered by the company should be of good quality.
You should also check if the products that the company is offering, have gone through strict quality check parameters or not.
Existing profitability of the organization.
The company which has been shortlisted by you should have at least 5-6 years of experience in this domain.
Make certain that the Pharmaceutical Company with which you are wishing to sign the agreement has a reputable market value and goodwill in the market.
Dedicated customer service is of great value these days. If you want a quick redressal of your complaints and issues then you need to opt for a company that has tremendous customer support and service.
Before signing the agreement make sure that the company has proper legal documentation.
Promotional Inputs you will be given if you choose a good Pharma Company
Almost all the pharmaceutical organizations offer you a wide range of items like:
Working Bags
Visual Aid
Reminder Cards
Product Card and Brochures
Writing Pads and Diaries
Catch Covers
Business visiting cards.
The promotional inputs provided to you should have variety and good quality. All these products are made available to the PCD Pharma Franchise owner in ample amount to increase the visibility of the product and certainly the brand.
For more info visit here: pharma contract manufacturer
Conclusion
Well, signing a PCD Pharma Franchise could be of superb proposition from a profitability point of view. The amount of payback you can make from this business definitely depends on your strong network, capability, and sincerity towards your work. The more will be the sales, higher will be the revenues and hence would yield you better profits. One needs to put on their tremendous efforts in this industry to achieve much more benefits. We hope that this article helped you understand how the franchise business has been changing the pharmaceutical industry in India.
How PCD Pharma Franchise are changing the Indian Pharmaceutical Industry in India?
In the past few years, along with other sectors, India has seen a humongous growth in the Pharmaceutical Industry. With the increasing scope of Pharma Franchise and PCD Pharma in India, it is certainly not wrong to say that PCD Pharma Franchise acts as a spine for Pharmaceutical companies in India. The pharmaceutical companies give rights for marketing and distribution to the PCD Franchise holder in the PCD (Propaganda-cum-distribution) model. Hence, the franchise holder is responsible for further marketing and selling of products of that very pharmaceutical company.
Click here to get more info about:top pharma company
Benefits the Pharmaceutical Industry is reaping through PCD Pharma Franchise
Availability of all drugs every time
Prompt delivery of medicine range
Employment opportunity to huge masses
Chance to be a leading industry
Choosing a Good Pharma Company
Choosing a good and right pharma company is very essential to earn huge profits. It is a very critical aspect of the whole business. There are various points that are to be kept in mind while you are planning to take a PCD Pharma Franchise. They are:
The products offered by the company should be of good quality.
You should also check if the products that the company is offering, have gone through strict quality check parameters or not.
Existing profitability of the organization.
The company which has been shortlisted by you should have at least 5-6 years of experience in this domain.
Make certain that the Pharmaceutical Company with which you are wishing to sign the agreement has a reputable market value and goodwill in the market.
Dedicated customer service is of great value these days. If you want a quick redressal of your complaints and issues then you need to opt for a company that has tremendous customer support and service.
Before signing the agreement make sure that the company has proper legal documentation.
Promotional Inputs you will be given if you choose a good Pharma Company
Almost all the pharmaceutical organizations offer you a wide range of items like:
Working Bags
Visual Aid
Reminder Cards
Product Card and Brochures
Writing Pads and Diaries
Catch Covers
Business visiting cards.
The promotional inputs provided to you should have variety and good quality. All these products are made available to the PCD Pharma Franchise owner in ample amount to increase the visibility of the product and certainly the brand.
For more info visit here: pcd pharma franchise
Conclusion
Well, signing a PCD Pharma Franchise could be of superb proposition from a profitability point of view. The amount of payback you can make from this business definitely depends on your strong network, capability, and sincerity towards your work. The more will be the sales, higher will be the revenues and hence would yield you better profits. One needs to put on their tremendous efforts in this industry to achieve much more benefits. We hope that this article helped you understand how the franchise business has been changing the pharmaceutical industry in India.
