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First step need to take For Starting a Pharmaceutical Company

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 Company related Questions

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 similar responsibility as of owner of proprietorship firm but a director doesn’t have ownership of company.

2. If you want to show marketed by address on your products of Bangalore then you need to set-up a sales office at Bangalore. Check out below articles related to marketed by address related queries:

3. Ethically you should have license with company name along with company registration. But wholesale drug license is only required for sell, stock, display and distribution of drugs and medicinal products. If you skip wholesale drug license and use any existing C&F or distributor license for conducting pharma business then it will be ok.

4. Sale or purchase of drug license we don’t have any Idea.

5. 20B and 21B is enough to get manufactured your pharmaceutical product at third party manufacturing basis. If you want to get manufactured and sale food products then you will need to take FSSAI distribution license.

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