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How to grow your Pharma Business?

  Growing a pharma business requires a strategic approach considering the specific context of your company and the pharmaceutical industry as a whole. Here are some general pointers to get you started: Market and Customer: Identify your target customer: Deeply understand the specific needs and challenges of your target audience, whether it's doctors, patients, hospitals, or other healthcare providers. This helps tailor your products, services, and marketing efforts. Focus on unmet needs: Look for gaps in the market where existing solutions are inadequate or unavailable. Addressing unmet needs can give you a competitive edge and drive innovation. Track market trends: Stay updated on regulatory changes, technological advancements, and emerging diseases to adapt your approach and anticipate future opportunities. Products and Services: Invest in R&D: Develop innovative products or differentiate existing ones through unique formulations, delivery methods, or combinations. Remember
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How to set-up Retail Pharmacy Business?

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 required
  • Fee Challan receipt
  • Registered Pharmacist appointment letter if either of owner or partner is not registered pharmacist
  • Educational and Qualification proof copy i.e. registration certification at State Pharmacy council, diploma or bachelor degree certificates etc
  • Date of birth certificate or proof copy of pharmacist
  • Declaration Affidavit of pharmacist as prescribed by authority
  • Address proof of pharmacist
  • Shop possession proof (Ownership proof or rent agreement which is applicable)
  • Refrigerator purchase bill copy
  • Partnership deep/MOA/Registration copy if any
  • Affidavit of proprietor/partners/directors
  • Address proof of proprietor/partners/directors
  • Blue print/layout plan of shop in three copies
  • Any other documents asked by drug authority

How to obtain license for retail pharmacy business?

For applying for license, you have to visit to your district drug licensing authority. Drug licensing authority responsibility is generally fulfilled by district drug inspector. You need to visit there and discuss about all formalities and specifications required for retail pharmacy business.

Complete all formalities and apply for retail drug license online or offline as applicable in your state. 

For more details read: How to open pharmacy store in India?

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