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.
Definition:
Compounding means the preparation, mixing, assembling, packing or labeling of a drug or device
Compounding, dispensing and labeling of required drug products should ensure that
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.
- 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.
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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