Query: I am a veterinarian by profession. Have been going through your website from past 1 year and have planned now to give a start to my own pharma company. Please let me know what will be the first step I need to take. Answer: First Step you need to prepare yourself for Pharmaceutical Company: Preparation means Choose marketing type, Choose molecules want to launch, Location where you want to launch product, Choose Company, Products Name, Budget available... Choose marketing type: As number of marketing and selling types present in pharmaceutical market. i.e. Branded Marketing , Generic Marketing , OTC Marketing, Franchise Marketing etc. You need to select any one from above. Choose Molecule: Once you have selected which marketing type is best suitable for you then you need to select at which segment and molecules you want to work. Check out: How to choose products/service for business? Location: You can't launch your pharmaceutical company all over India or at broad area.
Pharmaceutical marketing companies, also known as trading companies, distribution companies etc. are the pharmaceutical firms or companies who are engaged into marketing of pharmaceutical products at their name as marketed by but don’t indulge into manufacturing of pharmaceutical products.
For starting pharmaceutical marketing company, there are requirement of wholesale drug license and Goods and service tax number. A pharmaceutical marketing company can be started as firm (proprietorship or partnership) without registration under company act or as a company (one person, private limited or Limited Liability Company) by registration under company act.
Pharmaceutical marketing companies also deals in food supplements and herbal medicines. If pharmaceutical company is engaged into marketing of food supplements also then they also needs to take FSSAI registration or license for it. Herbal medicines marketing and sale doesn’t require any license, so they don’t need any license or registration for it.
Steps involved in starting pharmaceutical marketing company:
A pharmaceutical marketing company can conduct their business as following ways:
Some pharmaceutical marketing companies also provide facility of third party manufacturing through their own vendors to some distributors who want to launch few products as their own marketed by address.
Hope above information is helpful to you...
For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com
For starting pharmaceutical marketing company, there are requirement of wholesale drug license and Goods and service tax number. A pharmaceutical marketing company can be started as firm (proprietorship or partnership) without registration under company act or as a company (one person, private limited or Limited Liability Company) by registration under company act.
Pharmaceutical marketing companies also deals in food supplements and herbal medicines. If pharmaceutical company is engaged into marketing of food supplements also then they also needs to take FSSAI registration or license for it. Herbal medicines marketing and sale doesn’t require any license, so they don’t need any license or registration for it.
Steps involved in starting pharmaceutical marketing company:
- Choose name
- Prepare a business plan
- Finalize products which you want to launch and choose brand name for these
- Constitution of Firm or Company
- Apply for Company registration (In case of company)
- Apply for wholesale drug license
- Apply for Goods and Service Tax Number
- Choose third party manufacturer/Contract manufacturer or proceed for loan license manufacturing
- Proceed for manufacturing process by pharmaceutical manufacturer
- Payment as per agreed term and conditions
- Received products and start marketing of products
A pharmaceutical marketing company can conduct their business as following ways:
- Branded Medicine Marketing
- Generic Drugs marketing
- OTC drugs marketing
- Pharma Franchise Marketing
- Institutional Sale
- Pharmacy Chain Supply
- Online Pharmacy etc
Some pharmaceutical marketing companies also provide facility of third party manufacturing through their own vendors to some distributors who want to launch few products as their own marketed by address.
Hope above information is helpful to you...
For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com
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