How to Start Pharmaceutical Business

If you want client in pharmaceutical market, method depend at what type of marketing you are doing?  You are doing branded marketing or you are doing generic marketing, otc or pcd franchise , methods depend at it. You need to develop your marketing strategy, sales strategy for grabbing clients accordingly. If you are doing branded marketing then you have to call/visit doctors at regular basis, so they prescribe your products, you have create your marketing strategy accordingly.  But if you want to start generic distribution, want generic distributors, then marketing strategy will be different. OTC drugs will have different.  Whether you start with digital or offline, you have to promote your company. you have to find out your target audience/customer base then you have to promote your company to find out pharma clients .

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...

Query: I came across your you tube video for wholesale business in pharma distribution . Actually I am interested in this business but I am not a pharmacist . However I have done BSc with biology and MBA and has also done job in a healthcare company who was a drug retailer for one year . So can I get the license . Please give me advise on this. Response:  For taking wholesale drug license , you should fulfill either of qualifications i.e. Either Registered pharmacist under state pharmacy council or Person having minimum of one year experience at registered wholesale drug licensed firm after graduation But you have experience at a retail store company which is not fulfilling your eligibility for a wholesale drug license. So, you need to fulfill the second criteria for taking a wholesale drug license if you are not a pharmacist. Check out: How to start medicine wholesale business?

Query: I'm looking for start of the pharma distributorship . How can I get it? 1)How can I get adequate knowledge of my area's medicine supplies?(which medicines is now in market) 2)How can I conduct ground level survey that I have no experience in it? Please let me know about it. I have no diploma in pharmacy . I'm B. com. graduate. Can I get drug license by appointing registered pharmacist or experience person? Response: We recommend you to do a job for 3 to 5 years or spend time with any pharma distributor for 3 to 5 years to know about the pharma industry and medicine supplies . Your both doubts will be fulfilled by this way. Otherwise it is not easy to conduct ground level surveys in the pharmaceutical distribution business without experience. So, you need to first understand the market and then start business . Yes, you can get a drug license by appointing a registered pharmacist or an experienced person ?

How can a non pharma person get wholesale drug license? It is not necessary to have a pharmacist for a wholesale drug license as in case of retail drug license . If you have to get a retail drug license then you cannot get a retail drug license without a pharmacist. But when it comes to wholesale drug license, apart from the pharmacist, there is also a possibility that you can get a wholesale drug license without a pharmacist. Who is Eligible for Wholesale Drug License? Must be a registered pharmacist under the State Pharmacy Council or Competent Person/Experienced Person having minimum one year experience after graduation in registered wholesale pharmaceutical licensed firm (with bank salary details, appointment letter, experience letter and resignation letter) So if you want to get wholesale drug license and you are not a pharmacist then if you are graduate and you have at least one year experience in any wholesale drug license firm then you are eligible to apply for wholesale drug l...

Query: I want to start medical store business in pharmaceutical sector . Please sir suggest, how to choose location for starting a medical store? Response: You need to look after few factors before choosing location for your medical store. First thing, you can consider that how many hospitals and dispensaries are present in that area. Also you need to check out prescription come out from hospital or dispensary for medicine dispensing or internal medical store is available and no prescription come out outside for dispensing. Second thing, if any hospital or dispensary is not available then you can consider population of that area. If there are good population then there is good chances, there will be good sale of Over the counter (OTC) drugs and other general medicines.   If any from above condition is fulfilled then you need to check how many medical stores already present in that area. If there is no or very less number of medical stores present then it is good place to star...

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 requ...

Question:   I have read some of your articles and I must say your team is doing a great job in providing needy ones with  complete knowledge and details of Pharmaceutical Industry  of India. I had a small doubt and I would be grateful to you if you help me out of this. I am doing graduation from an open university (Delhi University, School of Open Learning (SOL)) and side by side doing a job in a  registered Pharma Company . The company recruited me on 10+2 basis. I just wanted to ask you whether I will be eligible to take the  drug wholesale license  in my name after graduation if I show the experience of 3 years in a registered pharma company alongside a B.A. degree. or I will have to show the experience in pharma industry after graduation ? Advice: For taking  wholesale drug license , a person should have one from the following eligibilities: Either  Registered pharmacist  under state pharmacy council or Person having minimum of one y...

Question:  I would like to startup a pharmaceutical distributorship/Stockist in Kerala, preferably in Alappuzha. I am looking forward to starting a wholesale business for an ethical pharma company . Can I take agency for multiple companies under one distributorship?.. Answer:  Yes Sir, You can take as number of companies agencies as you want at your wholesale drug licensed firm.. There is no restriction at number of companies distribution ship you can take if you have wholesale drug licensed firm/company. Check related links: Top start-up and Business Ideas in pharmaceutical industry How to apply and renewal for Drug license (Wholesale/Retail)? What is profit margin of Pharmaceutical Retailer (Chemist and pharmacies)? Prescription Drugs list in India How to start medicine business? Retail Drug License Wholesale Drug License

Pharmaceutical retailers deal into retailing of pharmaceutical products. They are in direct contact with patients or their caretakers. Pharmaceutical sector is regulated sector. Pharmaceutical Manufacturing , marketing , distribution and retail all is regulated through drug and cosmetic act & rules. For becoming pharmaceutical retailer, one should have retail drug license from drug department. For applying for retail drug license , applicant should have fulfilled predefined requirements and documents. Pharmaceutical retailers are Chemists, Drug Stores , Pharmacy Store , and online Pharmacies etc. There are little bit different between all these pharmaceutical retail businesses. Pharmacy stores are the pharmaceutical retailers who employ the service of registered pharmacist and are engaged into compounding, preparing and dispensing of drugs against prescription of registered medical practitioner . Chemists are the pharmaceutical retailers who employ service of registered pharmac...

Pharmaceutical Distributors are the part of  pharmaceutical distribution channel  who supply pharmaceutical products to retailers, hospitals, pharmacies, resellers and institutions etc. Pharmaceutical distributors, stockists and wholesalers are synonyms. It’s very difficult to  differentiate between wholesaler, stockists and distributors  at some level. Some time they work independently but some time their works are similar irrespective of wholesaler, stockist and distributor. For starting pharmaceutical distribution business, one needs to take  wholesale drug license . Wholesale drug license is issued by licensing authority (Drug inspector or specify by state government) under district drug control office. This wholesale drug license is same in case of wholesaler, distributor, stockist, CFA,  pharma marketing company  etc. A license on form 20B is issued for drugs other than those specified in Schedules C, C (1) and X to sell, stock , exhibit o...

Franchise is an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products. That’s same for all sectors with some modifications. When it applies in pharmaceutical sector, it requires some alterations because pharmaceutical sector is different from other sectors. Pharmaceutical franchise is a form of franchise business that is used when a pharmaceutical company gives franchise to a distributor/person/firm. Pharmaceutical franchise is different in many aspects from other sectors franchise because pharmaceutical sector is regulated sector and marketing is different as compare to other sectors. PCD (Propaganda cum Distribution) is also a sort of franchise business in pharmaceutical sector. Medicine’s sale depends at doctor’s prescription in pharmaceutical sector that creates difference from other sectors where consumer is actual customer. But in pharmace...

Online pharmacy is a latest trend and has only 1 percent share in Indian retail market but it is growing with CAGR of 13.6% and expected to surpass US$105 billion by 2025 globally. The global E-pharmacy market was valued at US$ 36.7 billion in 2017. In India, it is expected to grow at CAGR of over 20% to surpass US$ 3 billion mark by 2024. List of top most online pharmacy companies: NetMeds 1mg Apollo Pharmacy Healthkart PharmEasy MyraMed MedsonWay Care On Go Metapharmacy.in Medidart.com Buydrug.in Medplusmart mChemist Pharmaceutical sector is regulated in India under Drug and Cosmetic Act & Rule, 1940. From manufacturing to dispensing, every step is regulated and has to take license for it before entering into business. Drug and Cosmetic Act & Rule doesn’t differentiate between Offline and Online pharmacies but it also fall under Drug and Cosmetic act & rules as it is related to medicines and pharmaceutical products. In this article, we will discuss a...

Pharmaceutical sector is a regulated sector and regulated under drug and cosmetic act & rules. Pharmacy is related to pharmaceutical retail business and for starting pharmacy business, you will require to take Retail drug license. Most of times, we misunderstood the pharmacy term and we consider a pharmacy as a drug store and chemist shop. But there is difference between chemist shop and Pharmacy. Licensing requirements and documents also differ to some extent in both. But most of times they are used as a synonyms for each other.  Pharmacy is the pharmaceutical retail business that employs the services of a registered Pharmacist and maintains the compounding of medicines along with dispensing of pre-packed formulations against prescription of registered medical practitioner . The term Pharmacy shall be held to mean to include every store or shop or other place: Where drugs are dispensed, that is, measured or weighed or made up and supplied ; or Where prescriptions are comp...

Pharmaceutical sector is regulated under drug and cosmetic act & rules. Every activity i.e. manufacturing, distribution, retailing and dispensing is regulated under this act. Chemist shop is come under retail business in pharmaceutical sector. Pharmaceutical retail business includes Drugs store, druggists, chemists and pharmacy. There are some minor differences between all these but we are not covering here. You can check difference between Drug Store, Druggist, Chemist and pharmacy here Chemist/Druggist shops/ Medical Stores are the pharmacy retail stores who employ the services of registered pharmacist but don’t maintain a pharmacy for compounding of medicines against prescription of registered medical practitioner. Chemists and Druggists deals in pre packed medicines and dispense in actual form of packaging as received from manufacturer. Requirements for Starting medical store: Shop at prime location or at location where number of medical practitioners/hospitals are ...

Pharmaceutical sector is regulated under Drug and Cosmetic Act & Rules, 1940. All activities i.e. manufacturing, marketing, distribution, retailing, dispensing is regulated under Act. For doing any of activity in pharmaceutical sector, one must take a license for performing that activity. In this article, we will discuss about how you can start pharmaceutical distribution business. For starting pharmaceutical distribution business, you need to have following things: Distribution of Pharmaceutical Company Wholesale Drug license Number Goods and Service Tax Identification Number FSSAI License  (If doing Food and Dietary Supplement distribution also) Distribution of Pharmaceutical Company: For starting distribution of pharmaceutical products, you should have distribution of at least one pharmaceutical company. You can take distribution of one or more pharmaceutical companies. Procedure for taking distribution of a pharmaceutical Company: Choose distribution type you wan...