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Steps involved in starting Pharmaceutical Marketing Company

If we talk about steps for starting pharma marketing company so,  Step 1. You need to take experience in pharmaceutical industry that how you can sell your pharmaceutical products. Step 2. You need to choose your company name. Step 3. After that select your products, choose brand names for your products  Step 4. You can also go for trademark registration if you want to.  Step 5: After finishing these works you can go for company registration if you want to.other wise you can work as a firm  Step 6. Apply for licenses - wholesale drug license,  GST number.  Step7. If you also have food products then you can take fssai registration or license.  Step 8. Next step is to find out a good manufacturer who will manufacture your products. Step 9. Next steps is to get manufactured your products from that manufacturer.  Step 10. Receiving of products. After receiving products, you can selling and marketing of your products.  So, like that you can start your pharma marketing company step by step.

21 steps involved in start Pharmaceutical Marketing Company.

For starting Pharmaceutical marketing company, you need to fulfill requirements and licensing. Pharmaceutical sector is regulated under Drug and Cosmetic Act & Rules, 1940. From manufacturing to retailing, every step is regulated under Act. You will need to take license for indulging in any kind of business in pharmaceutical sector.

Now come to point. For starting pharmaceutical marketing company, you have to fulfill following licensed requirements.
To know in detail about documents and procedure by particular license, you can click at above links.

Other than licenses, you may require many character sticks and traits to start pharmaceutical marketing company. You have to prepare yourself mentally and financially to start pharmaceutical marketing company. Here we are providing useful things that are required for starting pharmaceutical marketing company:
  • Either you or your partner or your employee should have adequate experience in pharmaceutical sector.
  • You should have either a part time income source or adequate fund for your personnel and family expenses till your company starts to generate income.
  • You should have proper business plan, adequate knowledge of territory, molecule selection knowledge etc.
  • Be patience during your start-up journey. It takes a long time, six month, a year, two year or more to become successful in any business depend at your experience, circumstances and market exposure.

Steps involve in starting Pharmaceutical marketing Company:


  1. Take Experience or hire any experienced person in pharmaceutical sector.
  2. Prepare a Business plan.
  3. Choose a Company Name.
  4. Prepare a list of molecule and choose brand names for selected molecules.
  5. Go for trademark registration if you wish to.
  6. Arrange Investment (Own saving, bank loan, investor, borrow etc)
  7. Search for space for office and license (Owned or rented)
  8. Apply for company registration if you want to register a company
  9. Apply for wholesale drug license number
  10. Apply for Goods and Service Tax identification number
  11. Apply for FSSAI registration/license if required
  12. Search for a Pharmaceutical manufacturer for Third party manufacturing/ Contract Manufacturing/ loan Licensing
  13. Discuss and send them quotation. (Send to at least 4-5 manufacturer)
  14. Take quotation of selected molecules and Minimum batch size
  15. Finalize your manufacturing vendor.
  16. Go for artwork and printing material design & procurement for your products. Packaging material can be procured either by yourself or by manufacturer.
  17. Make an agreement with pharmaceutical manufacturer.
  18. Proceed as per mutual agreed term and conditions i.e. payment deposits, deliver time etc.
  19. Manufacturing process
  20. Receive your goods after completion of manufacturing process
  21. Start selling of your products


Other important Steps:
  • Designing of Logo, company product cards, literature, leaf behind cards and other promotion materials
  • Building of website and creation of social media presence
  • Recruitment of sales team and other staff if required
  • Execution of marketing strategy and promotion of company and its product

Qualification Required to Start Pharmaceutical Marketing Company:
  • Either you or your partner or you authorized employee should possess EP certificate or registered Pharmacist certificate to open pharmaceutical marketing company


How to Sell?

You can sell pharmaceutical products by following means:
Important Links:
 
Hope above information is helpful to you...


Related: Top start-up and Business Ideas in pharmaceutical industry

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