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What is Pharma Franchise Model? A blog about how franchising works in pharma.

In this article I will tell you about the Pharma Franchise Model and how it is different from other franchise models. Along with Pharma Franchise, I will drop you some basic knowledge about the entire franchise model. Franchise marketing meaning varies from industry to industry. A franchise is a model of distribution and represents the most common business structure that enables the franchisor to capture recurring business from their franchisees. The franchisees are then able to earn profits from the same set of rules, systems and standardized products sold by other franchises across the country. In today's world of marketing, franchising has emerged as a lucrative option for new ventures as it simplifies and streamline the process of starting a business. With so much advanced equipment, efficient manpower, trained professionals etc., many entrepreneurs find it financially rewarding to take up a franchise business. What is Franchising? Franchising is a business strategy that involv

Generic medicines

Generic medicine is the medicine which contains same active pharmaceutical ingredient that is present in original branded medicine protected by patent. Generic medicines are allowed to sale after the expiry of patent of original branded medicine.

Generic medicines have same dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use. A generic version of branded medicine has same active pharmaceutical ingredient but may have slightly indifferent inactive ingredients which may change look (shape or colour) of generic medicine from its branded medicine but does not change the effectiveness and safety of medicine.

Read: Difference between branded medicine and generic medicines

In order to enter a Generic medicine into pharmaceutical market, it must be bioequivalent to the branded medicine. Generic medicine should have similar bioavailability as of branded medicine. Bioavailability is the rate and extent of absorption of active ingredients or active metabolites from a product into the systemic circulation.

Marketing of generic medicines could vary country to country. For example, In USA, all generic medicines are marketed with generic name only. Generic medicine manufacturers are not allowed to fix brand names for their generic medicine. Only one brand is available and that belong to innovator.

In India, there is difference in marketing of generic medicines. In India, generic medicine manufacturers are allowed to fix a brand for their generic medicine. Hence number of brand names is available for a particular molecule throughout country. These generic medicines having brand names are known as Branded Generics. Branded generics are also sold in same way as of its original brand and at almost same price.

Pseudo Generic Medicines: Pseudo generic medicine term used for the generic medicine when exact replica of original is manufactured by pharmaceutical company having patent of molecule. It is manufactured with same active ingredient and same inactive ingredients at exact manufacturing condition.

These pseudo generic medicines are marketed by pharmaceutical company to discourage competitor pharmaceutical companies to enter into market of that molecule.

Hope above information is helpful to you...
For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

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