How to Start Pharmaceutical Business

Procedure for Renewal of pharmacist registration: Procedure for renewal of pharmacist registration varies state to state pharmacy council. State pharmacy council is authority responsible for registration and renewal of Pharmacist registration. You first need to visit physically to state pharmacy council or visit website of concern state pharmacy council and check procedure and documents required for renewal of pharmacist registration. We are providing link of all state pharmacy council websites below to visit and check requirements and procedure for renewal of pharmacist registration Documents required for renewal of Pharmacist Registration Documents for renewal vary state to state and every state demand for different documents. So, you need to confirm at your state pharmacy council about documents required for renewal of pharmacist registration. Here we are providing some general documents you may require at time of renewal: Application Form Original Registered Pharmacist Certificat...

State Pharmacy Council: State Pharmacy Council is constituted as per the Pharmacy Act, 1948 & State Pharmacy Rules, 1951. State Pharmacy Council is an authoritative council to regulate Pharmacy Act, 1948 & State Pharmacy Rules, 1951. What is state pharmacy council? State Pharmacy Council means a State Council of Pharmacy constituted under section 19, and includes a Joint State Council of Pharmacy constituted in accordance with an agreement under section 20 under the Pharmacy Act, 1948 & State Pharmacy Rules, 1951. State Pharmacy Council constituted and work under  Pharmacy council of India . Composition of State Pharmacy Council: The State Pharmacy Council consists of the following: i) Six members, elected from amongst themselves by registered pharmacists of the State; ii) Five members, of whom at least three shall be persons possessing a prescribed degree or diploma in pharmacy or pharmaceutical chemistry or registered pharmacists nominated by the State Gove...

Pharmacist Oath I swear by the code of Ethics of Pharmacy council of India in relation with the community and shall acts as an integral part of health care team. I shall uphold the laws and standards governing my profession. I shall strive to perfect and enlarge my knowledge to contribute to the advancement of pharmacy and public health. I shall follow the system which I consider best for pharmaceutical care and counseling of patients. I shall endeavour to discover and manufacture drugs of quality to alleviate sufferings of humanity. I shall hold in confidence the knowledge gained about the patients in connection with my professional practice and never divulge unless compelled to do so by the law. I shall associate with organizations having their objectives for betterment of the Profession of Pharmacy and make contribution to carry out the work of those organizations. While I continue to keep this oath un violated, may it be granted to me to enjoy life and the practice of phar...

What is Pharmacy Council of India? The Pharmacy Council of India is the statutory body of government of India also called as central council constituted under under section 3 of the Pharmacy Act, 1948. Constitution and Composition of Central Council The Pharmacy Council of India consists of the following: (i) Six members, among whom there shall be at least one teacher of each of the subjects, pharmaceutical chemistry, pharmacy, pharmacology and pharmacognosy elected by the University Grants Commission from among persons on the teaching staff of an Indian University or a college affiliated thereto which grants a degree or diploma in pharmacy (ii) Six members, of whom at least four shall be persons possessing a degree or diploma in, and practicing pharmacy or pharmaceutical chemistry nominated by the Central Government (iii) One member elected from amongst themselves by the members of the Medical Council of India (iv) The Director General, Health Services, ex officio or if he i...

Pharmaceutical franchise is simple business concept where two entities are needed. One that have products and second that have capability to market and sell these. Both work at mutual benefits. Throughout article, we will try to understand how it works. Sales team i.e. medical representative , area sales manager , regional sales manager , zonal sales manager etc is key aspects for sale generation for pharmaceutical companies. Setting up and maintaining this team is expensive one. Suppose if we want to cover one or two states. Then we will require at least one medical representative per two or three districts, one area sales manager per four to five medical representatives, One Regional sales manager per four to five area managers etc. Sales team will be set-up like this. There will be required a huge amount of investment for sales team only. This investment will be separate from investment done for setting up pharmaceutical manufacturing unit or pharmaceutical marketing company...

Franchise is an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products. That’s same for all sectors with some modifications. When it applies in pharmaceutical sector, it requires some alterations because pharmaceutical sector is different from other sectors. Pharmaceutical franchise is a form of franchise business that is used when a pharmaceutical company gives franchise to a distributor/person/firm. Pharmaceutical franchise is different in many aspects from other sectors franchise because pharmaceutical sector is regulated sector and marketing is different as compare to other sectors. PCD (Propaganda cum Distribution) is also a sort of franchise business in pharmaceutical sector. Medicine’s sale depends at doctor’s prescription in pharmaceutical sector that creates difference from other sectors where consumer is actual customer. But in pharmace...

Import licence: means either a licence in Form 10 to import drugs ;excluding those specified in Schedule X , or a licence in Form 10-A to import drugs specified in Schedule X Licensing authority: means the authority appointed by the Central Government to perform the duties of the licensing authority under these Rules and includes any person to whom the powers of a licensing authority may be delegated under Rule 22 of Drug and Cosmetic Act & Rules/. Licence for examination, test or analysis: means a licence in Form 11 to import small quantities of drugs the import of which is otherwise prohibited, for the purpose of examination, test or analysis Manufacturer: includes a manufacturer of drugs, who may be a Company or a unit or a body corporate or any other establishment in a country other than India, having its drugs manufacturing facilities duly approved by the National Regulatory Authority of that country, and who also has a free sale approval of the drugs approved by the said aut...

Definitions: Price to Retailer (PTR): Price to retailer is defined as the price at which a retailer/pharmacy/chemist purchase drugs from a wholesaler/distributor/Stockiest. Price to Stockiest (PTS): Price to stockiest is defined as the price at which a wholesale/distributor/stockiest purchase drugs from CnF or Company. When it is important? We have studies in our article: How to calculate maximum retail price in our previous article. PTS and PTR are calculated on the basis of given MRP. PTR and PTS play an important role in prescription, Franchise and OTC marketing. In case of PCD marketing and institutional sale, PTS and PTR don’t play much important role as drugs are supplied at net rates or any fixed rates and in generic marketing. How to calculate? There is a formula to calculate PTS and PTR. We can calculate it with GST or without GST. When you have GST number then it is required to calculate PTS/PTR without GST and add GST after invoicing value. If you don’t have GST number...

Online pharmacy is a latest trend and has only 1 percent share in Indian retail market but it is growing with CAGR of 13.6% and expected to surpass US$105 billion by 2025 globally. The global E-pharmacy market was valued at US$ 36.7 billion in 2017. In India, it is expected to grow at CAGR of over 20% to surpass US$ 3 billion mark by 2024. List of top most online pharmacy companies: NetMeds 1mg Apollo Pharmacy Healthkart PharmEasy MyraMed MedsonWay Care On Go Metapharmacy.in Medidart.com Buydrug.in Medplusmart mChemist Pharmaceutical sector is regulated in India under Drug and Cosmetic Act & Rule, 1940. From manufacturing to dispensing, every step is regulated and has to take license for it before entering into business. Drug and Cosmetic Act & Rule doesn’t differentiate between Offline and Online pharmacies but it also fall under Drug and Cosmetic act & rules as it is related to medicines and pharmaceutical products. In this article, we will discuss a...

Pharmaceutical sector is come under essential commodities. Medicines and other pharmaceutical products has regulated through many rules and regulations. Drug Price Control Order (DPCO) is one of them. DPCO regulates the maximum retail price of medicines and pharmaceutical products. Not all medicines fall under DPCO but a large number of molecules come under DPCO list. You can check DPCO price of any formulation: Search Medicine Price (NPPA) Maximum Retail price Calculation for products fall under DPCO: Medicines and pharmaceutical preparations that fall under DPCO list, NPPA (National Pharmaceutical Pricing Authority) fixes ceiling price of this formulations. No one can fix ceiling price above fixed by NPPA. Maximum Retail Price will be equal to Ceiling Price plus Local Taxes as applicable. NPPA calculates ceiling price of any medicine and pharmaceutical products as per below procedure: First average Price to Retailer is calculated by taking (Sum of prices to retailer of all...

Medicines and pharmaceutical products are life saving products and sensitive also. Pharmaceutical marketed is regulated all over world through different act & rules of specific countries. In India, pharmaceutical products are regulated through Drug and Cosmetic Act & Rule, 1940. Import, Export, manufacturing, distribution, retail and dispensing all are regulated under this act. For every activity, one has to take license and approval for it. You are eligible to export pharmaceutical products from India if you are a pharmaceutical manufacturer or pharmaceutical marketing company or wholesaler/distributor. Along with these specific licenses, you will also need to complete general requirements for exporting any goods from India. For exporting pharmaceutical products , you should have following requirements and licenses: Pharmaceutical Manufacturing License Number , pharmaceutical marketing company or Wholesale Drug License Number Goods and Service Tax Identification Number ...