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Queries on starting Pharma Marketing company

Query: Sir, we are 4 friends willing to start a Pharma marketing company . We initially planned a budget of total 4 Lakh. We chosen 5 tablet items and 3 IV products which run on regular basis.  Following of the queries I wanted to share- 1) Is 4 Lakh budget is sufficient for initiating this project?(8 items). 2) How do we introduce general IV products into Private hospitals and nursing homes? 3) How long it will take a time to run this business smoothly and grow? Response: 1) Is 4 Lakh budget is sufficient for initiating this project?(8 items). Best way to know about this is that, you can take rates of your proposed products from manufacturers and calculate your costing. You would have better idea about your budget then. 2) How do we introduce general IV products into Pvt hospitals and nursing homes? We hope you have experience and knowledge in those molecules. You just conduct a market survey about prices at what these products are sold in market and you can sell those at what rates t

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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