How to Start Pharmaceutical Business

What is Prescription? Prescription means a written or electronic direction from a Registered Medical Practitioner or other properly licensed practitioners such as Dentist, Veterinarian, etc. to a Pharmacist to compound and dispense a specific type and quantity of preparation or prefabricated drug to a patient. Types of Prescription :  Generally we can categorize prescriptions in three types Prescription for Extemporaneous preparations. Prescription for Official preparations. Prescription for Patent preparations Contents of the Prescription :  A Prescription contains generally following contents: Prescribers office information – [Name, qualification, address & Regn. No.] Patient information – [Name & address, Age, Sex, Ref. No.] Date Rx Symbol or superscription Medication prescribed or inscription Dispensing directions to Pharmacist (or) subscription Directions for patient [to be placed on label Refill, special labeling and /or other instructions Prescriber’s signatur...

Pharmacy Practitioner: A "Pharmacy Practitioner” means an individual (Community Pharmacist/ Hospital Pharmacist/ Clinical Pharmacist/ Drug information Pharmacist) currently licensed, registered or otherwise authorized under the Act to counsel or otherwise and administer drugs in the course of professional practice.  Types of Pharmacy Practitioners: Community Pharmacist: A “Community pharmacist” means an individual currently registered and who works according to legal and ethical guidelines to ensure the correct and safe supply of medical products to the general public. They are involved in maintaining and improving people's health by providing advice and information as well as supplying prescription medicines.  Hospital Pharmacist: A “Hospital Pharmacist” means an individual currently registered and who works in a hospital pharmacy service, primarily within the public / private sector. They are responsible for ensuring the safe, appropriate and cost-effective use of medicines....

What we should do after B. Pharmacy or our pharmacy education? Job or business!  That is one of the most asked question by students passing their degree. My suggestion is that you should start with job whether you are capable for starting business or not just after your degree. Because pharmaceutical market is vast ocean and there are lot of things to learn. What we have learn during our education is just basic concepts. These are helpful only to understand technical terminology when we enter into pharmaceutical industry . Other than understanding basic terminology, there is no use of that education in pharmaceutical business world. Look around yourself, how many persons you meet that are from pharmaceutical background and they are in pharma business. Very few persons will be there. Most of persons whether they are distributors, manufacturing company’s owners, marketers or retailers, from the non-pharma background. So, for starting a pharma business , your pharma degree is n...

Query: I want to start medical store business in pharmaceutical sector . Please sir suggest, how to choose location for starting a medical store? Response: You need to look after few factors before choosing location for your medical store. First thing, you can consider that how many hospitals and dispensaries are present in that area. Also you need to check out prescription come out from hospital or dispensary for medicine dispensing or internal medical store is available and no prescription come out outside for dispensing. Second thing, if any hospital or dispensary is not available then you can consider population of that area. If there are good population then there is good chances, there will be good sale of Over the counter (OTC) drugs and other general medicines.   If any from above condition is fulfilled then you need to check how many medical stores already present in that area. If there is no or very less number of medical stores present then it is good place to star...

Query: I have a query that if we are developing a product that contains some api (Active pharmaceutical ingredients) . Now if we are making this product in Pharmaceutical firm, so do we have to show only Manufacturing drug license number on packaging? or we have to create our own drug license number (For marketed by) on packaging. Please suggest... Response: Your question is somewhat unclear to us but we are considering, you want to get manufactured a pharmaceutical product having some active ingredients in it from a pharmaceutical manufacturing company as marketed by your company name . In that case at packaging, there will be a manufacturing license number of pharmaceutical manufacturer will be printed along with manufactured by name and complete address. Your company marketed by company name and address will also present at packing. For being a pharmaceutical company  on marketed basis, you need to have a wholesale drug license. But your company's wholesale drug license number...

Query: Looking to enter into pharma distribution Segment and Manufacturing So can you please guide us to start as a distribution As I am seeking some guidance such as there will be any platform where the distributor will meet manufactures etc or Like exhibition or websites which you might know Response: You have to find out distributors by advertising and promoting your business as we do. We also find for distributors for our Ayurvedic Herbal start-up by promoting it through Google Ads, Facebook Ads, by writing blogs, SEO and different different ways. There are also many exhibitions but above mentioned way are much more effective for finding distributors There is process to find out distributors, not any website Process means... First you need to start your pharma company You can start either a pharmaceutical marketing or pharmaceutical manufacturing company Make a website and social media portal pages and profiles Make a Digital marketing strategy Google is one of the main source wh...

Investment required to start a pharmaceutical marketing company is not fixed. That are depend at many factors like: Rent or property rates of premises where you are going to take license or set-up as corporate office Licenses and Documents Cost at your area Product’s Molecule and composition selected by you for launching into market Number of products you want to launch Staff, Office accessories and infrastructure Cost Scale at which you want to work Marketing, travelling and promotional expenses etc. Terms like Pharmaceutical Marketing Company, trading company, distribution company, marketed by company, third party manufactured by company are used Synonymously. So, don’t be confused between these terms. Before proceeding further, check out documents and licenses required to start a pharmaceutical marketing company General Legal Formalities: Business Registration – Firm Registration or Company Registration Wholesale Drug License Goods and Service Tax Identification Number (GST) FSSAI...

Query: I have been reading your articles. It would be great if you can give me some clarity. I want to get some skin care products manufactured under my brand,I need some information regarding that:- 1) What all approvals and licenses, I would require as a marketed by company. 2) What all certificates I should check of the manufacturer. Response: Skin care products can be manufactured by three ways: As Pharmaceutical Products (Dermatology Products) As Cosmetic Products As Ayush ( Ayurvedic, Unani, Siddha and Homeopathic Product ) Most probably you want to launch skin care general products manufactured as cosmetic products. So, we will provide clarity by assuming, you want to start cosmetic skin care products. 1. You will not need any approval or license to cosmetic skin care products under your brand name. You only require to have trademark registration for protecting your brand name intellectual rights. All approvals will be carried out by the cosmetic manufacturer and manufacturer ...

Query:  Please help me in this regard. 1. We want to market following these products. Protein Powder Multivitamin Capsules Amoxicillin + Potassium Clavulanate Tablets Cefixime Tablets Chlorzoxazone + Aceclofenac + Paracetamol Tablets 2. We want to Market under our Company Logo. 3. Which is the best option for us. Loan License. Third Party Manufacturer. OR Contract Manufacturer. We need different company names located only in Hyderabad to manufacture above said products. Response: Third Party Manufacturer  will be a better way for you to start with as it requires less effort to get manufactured own brand name product under own logo at initial stage... Later when you will be established, going into loan licensing or contract manufacturing will be good. Sorry for different company names as we don't recommend companies. Check out List of Pharmaceutical Companies in Telangana

Question:   I am working in MNC last 24 years I want to start my own pharma marketing company on ethical prescription base company. My friends ready to invest around 30 lakhs including me. Please give me information step wise what to do. How to do &how many days it will take to start promoting products. I would like to start promoting first stage with 5 to 6 products only i.e. 1. ferrous ascorbate, folic acid with zinc combination tabs form and 2. Calcium with vitamin d3 brand. 3. Multi-vitamin tabs & syrup. 4th brand cefpodoxime 100/200/tabs and dry syrup. 5. brand telmisartan combination....6 brand one cough preparation. If everything goes well one tablet form of methyl cobalamin and b1, b6, b12. combination. Please give information Answer: For starting pharmaceutical marketing company, you need to have following things: 1. Business Registration – Firm Registration or Company Registration (Voluntary) 2. Wholesale Drug License 3. Goods and Service Tax Iden...

Question: I am Currently Australian and Indian dual country registered Pharmacist. I am also certified in anti-ageing practitioner and I work with specialists to develop custom made nutritional and topical preparations. I would like start nutritional products manufacturing in India with initial third-party manufacturing and contract manufacturing . My question is, if there is a reference to check classification of the nutrients that I want to put in to the formulations to know 1. Needs prescription 2. Needs clinical studies 3. Needs stability and comparability data 4. Any certifications/formulation approval needed or a formulation pharmacist is needed 5. Restrictions on supply through publishing on website Answer: For starting nutritional products manufacturing units in India, you need to take FSSAI central license. Check out: Procedure and documents for starting nutraceutical manufacturing unit All nutritional products are fall under Food Act and regulated in India by FSSAI (...

Question: I have pharma marketing experience only; 1. Nothing knows what is a private limited company and what are the responsibility of Directors. 2. How can I show marketed by address on products of Bangalore while operating whole company from my city in UP (west). 3. Do I need Drug License with company registration if I have another firm as C&F/ Central Distributors. 4. It is difficult to get drug License at my city, Can I purchase the old license with different name from my company name. 5. Are 20B and 21B enough to get third party manufacturing and to sale of Food products. Answer: 1. To understand the responsibilities of directors in Private Limited Company, you need to understand the who is director of a private limited company. A director of private limited company is a person which acts on the behalf of company. A director controls, manages and directs the company and its members. Responsibility of directors is to control, manage and direct the company. A director has si...

Question: This is with regards to opening up of a retail pharmacy business in Thane. Please guide me as to how I can proceed with it. I am CA qualified, but have no idea about whether any specific qualifications are required for setting up this business and also how to obtain license Response: For starting retail pharmacy business, you need to have retail drug license . For taking retail drug license, you need to complete all requirement essential for it. These are as follow: Premises Area Required: Minimum of 10 Square meters. Premises Specifications: Premises shall be designed, constructed, adapted and maintained to suit the pharmacy operations so as to permit dispensing of drugs under hygienic conditions. Competent Person: Registered Pharmacist Pharmacist requirement, you can fulfil by appointing a registered pharmacist as employee for your pharmacy store. Documents and requirements for starting retail pharmacy business: Application at Form 19, 19A, 19B or 19C as per license requ...

Query:  I am looking to start distributor business in Pharmaceutical so I need complete details from license procedure to apply for distributor ship. Can you please provide the details over email? Also, I have question that Am I eligible to apply for drug dealership license if I don't have an experience in drug dealership? As I have done MBA in finance and have worked in finance company as Finance Analyst but now, I am interested to start distribution business in pharmaceutical at my place and also please suggest which pharma company's dealership I can apply for on the basis of profit, easy dealership process and formalities, etc.  Response: For starting distribution in pharmaceutical sector, you require to have wholesale drug license and GST number. Check out: Procedure and details for applying wholesale distribution license here You are not eligible for applying for wholesale drug license on the basis of your experience as Finance Analyst. You must have either minimum ...

Question:   I have read some of your articles and I must say your team is doing a great job in providing needy ones with  complete knowledge and details of Pharmaceutical Industry  of India. I had a small doubt and I would be grateful to you if you help me out of this. I am doing graduation from an open university (Delhi University, School of Open Learning (SOL)) and side by side doing a job in a  registered Pharma Company . The company recruited me on 10+2 basis. I just wanted to ask you whether I will be eligible to take the  drug wholesale license  in my name after graduation if I show the experience of 3 years in a registered pharma company alongside a B.A. degree. or I will have to show the experience in pharma industry after graduation ? Advice: For taking  wholesale drug license , a person should have one from the following eligibilities: Either  Registered pharmacist  under state pharmacy council or Person having minimum of one y...

 Elzac Herbal India V.P.O. Gheer, Karnal-132001 (Haryana) Contact: 8930765982 Visit: www.elzac.in

Important point in Pharma Franchise Marketing You should have price list with products that are available with you at regular basis. Don’t add products that aren’t available at you or you can’t fulfill at short span. You should also remove all products that you have discontinued or going to discontinue due to less demand or repeated expiry of stock. You can get party order based upon manipulated price list but can’t keep distributor for long time as they will easily understand your trick. Pharma Franchise business is based upon long term partnership with customer. A pharma Franchise Company only get benefited if a pharma franchise distributor remains associated with them for long time period.  Prices should be reasonable and same for a particular location for all distributors.  Keep your term and conditions simple and easy to understand. Don’t hide any point to associate with prospect. This make ruin your relationship with your party in future. Make clear all term and condit...

Video Language is Hindi Chapter 6: Sales Lead follow-up in Pharma Franchise Marketing In previous chapter, we have discussed about different ways of generating leads and prospect’s contact details, promote and advertise pharmaceutical company for generating franchise queries. We will discuss about follow-up here in pharma franchise marketing . You need to learn about follow-up because good follow-up may lead to convert a lead into business and spammy follow-up may damage your and your company reputation. Follow-up is must to do for pharma franchise marketing. You need to take regular follow-up with prospect periodically but you should make sure not to spam and irritate others with your follow-up. You can send reminder mails or massages or make calls etc.  How to follow-up? First you need to make a list of all leads in excel or any other ways that you receive This list should contain Firm name, contact person name, address if you have, phone number, e-mail address and follow-up dat...

Video Language is Hindi Chapter 7: Close a Sale In previous chapter, we have discussed about follow-up of franchise queries. In this chapter, we will discuss about finalizing your pharma franchise distributor and close a sale. You have made regular contact with prospect during follow-up. As we have discussed in previous chapter, there are generally four types of queries you will receive. During follow-up, some queries will convert into your distributors and some will not. That’s the part of game. You can’t convert all queries into sale. In Pharma franchise marketing, we generally consider that parties that come through your promotion and advertisement will associate with you at your term and condition and parties to whom you approach and try to give you distribution, will try to impose their own term and conditions. So, you should try to promote your business so prospects come to you and work with you at your term and conditions. You need to make regular follow-up with leads you recei...

Video language is Hindi Chapter 4: Identify Would be Customers (Prospects) in Pharma Franchise Marketing First rule of sales is to identify prospect. A prospect is an individual or business whom have possibility of becoming your customer in near future. You can’t waste your time to call or approach every person/business in pharmaceutical sector to introduce your product or ask for becoming your franchise. This is frustrating and useless way of spamming. You call fifty of persons daily and e-mail to hundreds of e-mail Id’s but get back hardly any. Problem is not in your efforts but problem is that you are approaching to wrong persons. Like other businesses, in pharma franchise marketing , you need to know who could be your future customers and to whom you need to reach to ask for becoming your franchise distributor. In this chapter, we will try to identify who can be your prospect or future customer. For completing a sale, a business needs a product/service, a salesperson and a customer...

Video Language is Hindi Chapter 5: Lead Generation and Approaching the Prospect (would be customers) We have identified that who could be our targeted prospects in our last chapter. In this chapter, we will try to reach to prospects, lead generation and approach them for taking our pharma franchise distribution. This will refine our prospect reach as we will concentrate only on those prospects that could be our customers, not every doctor, retailer, distributor or sales professional. There are generally two ways to generate new leads and business. Reach to prospect Advertisement and Promotion Both of cases have own advantage and disadvantages. We can find prospect through either we reach to proposed customer or we advertise and promote our business so prospect react to us.  Reach to prospect: Reaching to prospect includes travel to prospect destination, cold calls, promotional massages and e-mails, social media contacts etc. In this way, we collect information about prospects throu...

Part 2: Sales Process: After completion of basic knowledge part. We have reached at sales process where we have to learn have to generate sale for our company. Purpose of basic knowledge part is to clarify doubt arise by your prospect during face to face or telephonic discussion. It’s like to learn basic road safety rules and procedures and vehicle manuals before start driving. You may skip that but it’s always advised to have basic training and knowledge of sign board instructions, vehicles functionality, rules, regulations and guidelines etc. Likewise, before proceeding in pharma franchise sales and marketing, you need to have basic knowledge of pharmaceutical industry, terminology and other aspects. Sales process will cover Chapter 4: Identify Prospect (Proposed customer Chapter 5: Lead Generation and Approaching the Prospect Chapter 6: Follow-up Chapter 7: Close the Sale Next: Chapter 4: Identify Prospect (Proposed customer  Previous: Chapter 3:  Know About Pharmaceutical ...

Language in Video is Hindi Chapter 3: Know About Pharmaceutical Industry and Pharma Terminology We have learned very detailed information about pharmaceutical industry in our basics like what are the drugs, types of drugs, how to sell, market size, growth opportunities. In this chapter we will know about common pharmaceutical terminology use in Pharma Franchise Marketing . Sales Types: We have covered in our Basic Knowledge of Pharmaceutical Industry section Net Rates: Net rates are the rates at which a pharmaceutical company sells a product to pharma franchisee. These rates may be exclusive or inclusive of GST and Freight. Price to Retailers (PTR): Price to retailer is the price at which pharma franchisee distributor sell products to the pharmacy or chemist shop . These prices may also be exclusive or inclusive of GST. Price to Stockist (PTS): Price to Stockist is the price at which pharma franchisee distributor sell products to the distributor or stockist . If pharma franchisee work...