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Q&A : Pharma Company - Which Molecule should we start

Question: I want to start my own pharma company and I am not sure that with which medicine should I began my journey with. I will be very grateful if you can help me to find a medicine with future potential and less market competition. I hope you will help me with this. Answer: I recommend you to start with a product that you can easily procure at small quantity whether it has high competition or less Question: Can you tell me some important steps while selecting one Answer: One criteria is to have experience in that product Second , you can get it in small quantity as you have investment less and prevent money for other products Question: Sir I have one more question With which type of people should I start my company with Answer: A business require different-different types of knowledge and experience. You should involve with persons having different experience from you. Like if you have marketing experience then you need account knowledge person Means you need person who fulfil

Is it legal for Doctor's to prescribe own company's Brand?

Query:
Hi. I am a practicing doctor. My partner and I are starting a pharmaceutical/nutraceutical company (via third party manufacturing). I have 2 queries -
1. Since I am a practicing doctor, and since I regularly prescribe some of the drugs that we have planned to manufacture, is it legally fine for me to continue prescribing the same drugs (as before) but under my company's name from now onwards?
2. The first 3 products that are being manufactured are food supplements (like 0mega 3, Carnitine etc.), so we have only taken FSSAI & marketing registration as of now (along with company registration, GST etc.). Only for the subsequent products (medicines), we have thought of taking distributor licenses. I hope that is fine? Or should we take the distributorship license now itself?


Response:
1. Yes Sir, It is legally fine. A doctor's main concentration is to treat his own patient. Whether you are prescribing your own brands or other company's brands. You can continue prescribing the same drugs under your own pharmaceutical company's brand.
2. If you are doing only food supplements then you can start with FSSAI license along with others. Till you don't go into medicine purchase, you won't require a wholesale drug license. You can take a wholesale drug license when you plan to go into medicine manufacturing in future.

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