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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
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Compounding of Drugs

Definition:

Compounding means the preparation, mixing, assembling, packing or labeling of a drug or device
  • As the result of a practitioner’s prescription drug order (or) initiative based on the practitioner/patient/pharmacist relationship in the course of professional practice, or
  • For the purpose of, or as an incident to research, manufacturing, teaching, clinical trial or chemical analysis including drug analysis and not for sale or dispensing.
Note: Compounding also includes the preparation of drugs or devices in anticipation of prescription, observed prescribing patterns

Compounding, dispensing and labeling of required drug products should ensure that
  • The drug product matches the prescription.
  • The drug product has not expired.
  • The drug product is appropriately compounded (if necessary), packed and labeled appropriately.
  • The accuracy of dispensing is checked by Registered Pharmacist.
  • Proper documentation is made.

No person other than a Registered Pharmacist shall compound, prepare, mix, dispense or supply of any medicine on the prescription of a Registered Medical Practitioner.
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