If you are new and want to start a pharmaceutical company in India then, you must have the proper knowledge of pharma. You have lots of patience and some time. Also, you are aware of all the pharmaceutical company facts. Some important points that must be clear in your mind. Starting any pharma business or company firstly you have done all research related to your business. You can research online or offline methods.
You must have a unique idea in your mind. A good idea is very important to your starting business. It is the first step to start a pharmaceutical company.
This is the second and most important step. In this step after the good business idea. You should do deep market research related to your idea. To do market research you can follow any method like online as well as offline.
When you complete all the market research. You should not keep all those things in your mind. Also, write your business plan. You should prepare a complete blueprint for your business plan. In blueprint you should mention:
a) Company aim
b) Business Structure
c) Company Ethics
d) Business Theme
e) Company Core Value
Your fund system & expenses overall depend upon your business plan. If you are planned to start a big pharmaceutical company? Then you should invest a big amount to establish a big pharmaceutical company in India. Also, if you are planned to start with a small investment then your pharmaceutical firm is also small.
Business location plays there important role in any kind of business. But in Pharmaceutical Business the location is not too much important. In this business, your marketing skills play a very important role. If your market skills are good and you have at least 1-year of experience then it could make it easy to start a pharma business.
Each business has its uniqueness. The business structure depends upon the business plan and business funding system (i.e. how much you want to invest). Here below are some important things that must be in business structure:
a) Medical Representative.
It depends upon the business idea that how many employees you need in your pharmaceutical company. E.g. If your company is small and less number of products than 4-5 medical representatives is enough.
To follow government policy you should have GST (Goods and Services Tax) number and DL (Drug Licence) number. Here, a question is coming into your mind, what are the requirements to start a pharma company. There are two ways to franchise in a pharma company. The Ist way is to start with full fledge and the 2nd way is to start with a Small Scale.
You must have some work experience. If you are new in this field and you want to start your pharmaceutical company. Then it has possibilities that you can face many problems. So, it is very important that you can at least work for any pharma company as an MR (Medical Representative) minimum of 6 months or 1 year.
To start any pharmaceutical company, It is very important that you should register the company first. Here, we guide you that how you can register a pharmaceutical company in India. The drug officer guides you in the best way. Because Some requirements can vary from state to state. Here below, we discussed some important documentation and licenses.
In the above, all these documentations and licenses are important. But the first three are most important. Without Drug Licence and GST Number, you could not think to start any pharmaceutical company in India.
If your educational background is in the Pharma line then you are eligible for drug licenses. Otherwise, you can also take a drug license on rent. Here below some documents & requirements for drug license:
You can start your business in Third- Party Manufacturing and in PCD Pharma Franchise. If you are a beginner, and you don’t want to take more financial risks then you can go with PCD Pharma Franchise. If you want third party manufacturing than your minimum investment is high as compare to PCD Pharma Franchise.
In PCD Pharma Franchise there is target pressured. Your target could be varied from time to time. But in Third Party Manufacturing there is no target pressure. You can manufacture your own products.
In PCD Pharma Franchise the area is too restricted. The area is not restricted in Third Party Manufacturing. Even you can export your products. The marketing company’s name and address will be shown as ‘Marketed by’, ‘manufactured for’, and other related terms.
The vision of the PCD Pharma Franchise is too small but in the case of Third Party Manufacturing, the vision is large and good. The doctors and retailers support them.
To getting own manufacturing brand name in products then you can choose third party manufacturing. Whereas, In PCD Pharma Franchise you can only get the franchise from other branded products.
Allopathy is the part of western India System but now it spread all over the world. This drug methodology has three things:
Ayurveda is a traditional Indian System of medicine. Now Ayurveda medicines are too popular and effective all over the world. There are so many herbal companies. Here you can view the top 50 ayurvedic company lists in India which provides you third party and PCD Pharma Franchise.