To enter into the biz world or give a refreshing start to your business, knowing the current information about the industry is the first step forward. If you are a budding entrepreneur and are considering pharma franchise business as an option, here is all that you need to know as a beginner.
The first rule is to abide by the rules. This might seem obvious but following the rules and regulations set forth by the authorities is the most important in this case. This is because the end user in this particular case is a patient who is trusting you with his life. Additionally, the government has revised its policies regarding pharmaceutical companies to ensure ethical environment in the different processes that take place in the pharma industry right from raw materials purchase to marketing of the products.
All the PCD pharma companies function under the surveillance of the following authorities:
- World Health Organization or WHO
- Food and Drug Administration or FDA
- Medicines and Healthcare Products Regulatory Agency or MHRA
These organizations are a group of knowledgeable and experienced personnel keeping an eye on the various processes taking place in a PCD pharma company. These processes take place at three different units namely:
- Research and development unit
- Manufacturing plant
- Drug marketers or distributors
The Research and development unit
Evidently, this is the unit where all the research and development of new drugs takes place. There are biotechnology units that might exist as separate R&D companies exploring and developing new products and then offering manufacturing licenses to companies who want to produce the drug. Research companies can also exist as an in-house R&D unit which is a part of the internal functionary of a manufacturing firm.
The manufacturing plant
This is where the actual processing of the raw materials takes place to produce healthcare goods. A PCD pharma company is a place where pharma producers collaborate with distributors or marketing support firms for the best results.
Marketers or distributors
To sell its pharmaceuticals, a company would need a selling license and a good reputation in the market. Pharma companies generally prefer to outsource this important task to pros which are franchise companies possessing a selling license for drugs. They have a special task force to achieve high selling rate in different markets.
Orange Biotech is a trusted Indian PCD pharma company willing to give away their marketing rights to franchise companies and marketing entrepreneurs in various parts of the country. Get the advantage of working with the best, talk to us today!