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What is Pharma Franchise Model? A blog about how franchising works in pharma.

In this article I will tell you about the Pharma Franchise Model and how it is different from other franchise models. Along with Pharma Franchise, I will drop you some basic knowledge about the entire franchise model. Franchise marketing meaning varies from industry to industry. A franchise is a model of distribution and represents the most common business structure that enables the franchisor to capture recurring business from their franchisees. The franchisees are then able to earn profits from the same set of rules, systems and standardized products sold by other franchises across the country. In today's world of marketing, franchising has emerged as a lucrative option for new ventures as it simplifies and streamline the process of starting a business. With so much advanced equipment, efficient manpower, trained professionals etc., many entrepreneurs find it financially rewarding to take up a franchise business. What is Franchising? Franchising is a business strategy that involv
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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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