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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

Need Help in Starting a Nutraceutical Business

Query:
This is regarding my query to start a nutrition supplement business. I am a non-familiar person to this industry. But I want to diversify my business horizon and feel this would be a good fit for me. Therefore, I would like you to please help me understand the process and ways to set up this business.
Hope to hear from you soon.

Response:
For starting Nutraceutical Manufacturing business, you need to take FSSAI central license. Nutraceuticals are covered under FSSAI, not drugs. So, you can start Nutraceutical Manufacturing Business by taking FSSAI central License in manufacturer category.
FSSAI license is applied online through their portal https://foscos.fssai.gov.in/ . You can meet the Food Licensing authority of your district before or after applying online to know complete requirements and procedures.

Documents required for applying FSSAI Central License for Nutraceuticals:
1. Blueprint/layout plan of the processing unit showing the dimensions in meters/square meters and operation-wise area allocation (mandatory for manufacturing and processing units only)

2. List of Directors with full address and contact details (mandatory for companies only)
3. Name and List of Equipment and Machinery along with the number, installed capacity and horsepower used
4. Analysis report (Chemical & Bacteriological) of water to be used as an ingredient in food from a recognized/ public health laboratory to confirm the potable
5. Upload Production unit photograph
6. Photo I.D and address proof issued by Government authority of Proprietor/Partner/Director(s)/Authorized Signatory.
7. Proof of possession of premises. (Sale deed/ Rent agreement/ Electricity bill, etc.) .
8. Partnership Deed/Self Declaration for Proprietorship/Memorandum & Articles of Association towards the constitution of the firm
9. Form IX: Nomination of Persons by a Company along with the Board Resolution.
10. Category of the product as per Food Safety and Standards (Health Supplements, Nutraceuticals, Food for Special Dietary Use, Food for Special Medical Purpose, Functional Food and Novel Food) Regulations, 2016 and List of Ingredients.

By this way, you can start a Nutraceutical manufacturing Company....

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