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Is medical representative a good career?

A career as a medical representative can be a great choice for many people. There are many advantages to this career, including the potential to earn a good income and the opportunity to work in a variety of settings. Of course, like any career, there are also some downsides to being a medical representative. For example, you may find yourself working long hours or traveling frequently. Overall, though, a career as a medical representative can be a good choice for many people. If you're interested in this field, be sure to research it thoroughly to make sure it's the right fit for you.

Types of Pharma companies

Types of Pharmaceutical Companies

A pharmaceutical Company can be classified on the basis of many factors like manufacturing/marketing, operational and marketing strategy etc. We will try to classify pharmaceutical companies. Have look at types of pharmaceutical companies.

Classification on the basis of Product development:

  • Research Based Molecule Developer (Branded/Patent Medicine)
  • Generic Counterparts
  • Bulk Drug Manufacturers
  • Contract Research Organizations

Research Based Molecule Developer (Branded/Patent Medicine):

These are the larger drug companies that have several different drugs to their name. Moreover, these established companies, like Pfizer, have thousands of researchers working for them, and several manufacturing plants.

Generic Counterparts:

Since the expiry of drug patents help in lowering the cost of manufacture, generic drug companies help mass-produce drugs. Moreover, these pharmaceutical companies do not work much on R&D but help bring patent-expired medicines to the market at lower costs.

Bulk Drug Manufacturers:

These corporations produce bulk compounds, biomolecules and other AIs for drug manufacturers. Further, they also help to create vaccines, serums, and other products.

Contract Research Organizations:

These are smaller research organizations and pharma businesses that focus on R&D. Additionally, while they do not have drugs on the market, they help bigger firms with clinical trial observation as subcontractors on larger projects.

Classification on basis of operational strategy:

  • Pharmaceutical manufacturing company
  • Pharmaceutical Marketing Company
  • Research based Pharmaceutical Companies

Pharmaceutical manufacturing Companies:

Pharmaceutical manufacturing companies are the pharmaceutical companies who possess manufacturing facility and arrangement. Pharma manufacturing companies could be engaged in manufacturing and marketing process both. Check out: How to start pharmaceutical manufacturing company?

Pharmaceutical marketing Companies:

Pharmaceutical marketing companies are the pharmaceutical companies who procure their products from pharmaceutical manufacturing companies at third party manufacturing, contract manufacturing or loan license basis. Check out: How to start a pharmaceutical marketing company?

Research based Pharmaceutical Companies:

Research based pharmaceutical companies don’t indulge into manufacturing or marketing of pharmaceutical products. Even they don’t have any drugs and related products. They are working on innovation of new molecules and modification of existing molecules. Research based pharmaceutical companies are either a subsidiary of any big pharma or sponsored by pharmaceutical companies who don’t have own R& D departments.


Classification on the basis of marketing strategy:

Classification of pharma companies on the basis of marketing strategy conducted to market and promotes their products.
  • Branded drugs companies
  • Generic Drugs companies
  • Branded Generics companies
  • Pharma Franchise Companies

Branded Drugs Companies:

Branded drugs have different meaning in USA as compare to India. Branded drugs are known as the name (other than its generic name/INN) given by pharmaceutical company to its researched molecule which is patented by it. Pharmaceutical company innovates a molecule and affix a name to market and promote it into market. This type of companies is come under Branded Drugs companies. Know more about Branded Drugs marketing

Generic Drugs Marketing Companies:

After expiration of patent, all pharmaceutical companies (other than innovative pharmaceutical company) are free to launch that molecule in market. All products of that molecule other than its innovative brand are known as generic drugs. Pharmaceutical companies who deal in generic drugs are known as Generic drugs companies.
In USA, generic medicines can be sold only by its INN or generic name. Generic pharmaceutical manufacturer are not allowed to affix a name for its generic drugs where as in India, generic drugs manufacturers are also allowed to fix the name of its generic products. Known more about generic drugs marketing here

Branded Generics Companies:

In some countries, generic drugs are allowed to fix brand names. The generic drugs having brand name affix on its label is known as Branded Generics. A pharmaceutical company who produce generic medicines but sell in market by affixing a brand name is known as Branded generics pharmaceutical companies. Read in detail about Branded Generic here

Pharma Franchise Companies:

Pharmaceutical companies who provide distribution rights and marketing rights to any individual or group to carry out business on behalf of them is known as pharma franchise companies. Know more about pharma franchise marketing here

Hope above information is helpful to you...

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