How to Start a Pharma Company in India
- 1. How to Start a Pharma company in India
- 2. • Healthcare and pharmaceutical sectors are showing good growt h, and it seems that the future is pretty bright. • Therefore, the early you start the business, the better it is. The In dian pharmaceuticals market is the third largest in terms of volum e and thirteenth largest in terms of value, as per a report by Equity Master. • India is the largest provider of generic drugs globally, with the Ind ian generics accounting for 20 per cent of global exports in terms of volume.
- 3. Basic Types of Pharmaceutical Companies
- 4. • Brand Developers: Large and established pharmaceutical companies, s uch as Pfizer and Novartis, have a large number of drugs on the market. These mainline pharmaceutical firms have internationally acclaimed rese arch and development laboratories and a large number of manufacturing plants. • Research and Development: Smaller research and development pharm aceutical companies may not have any approved drugs on the market, bu t continue to focus on research, such as clinical trial observation. • Generic: A number of drugs on the market no longer have patent protect ion. Generic pharmaceutical companies bring these drugs back to the ma rket after patent expiration as less expensive versions.
- 5. • Drug marketing: Marketing companies in the pharma industry help increase the market reach of drugs. At times, a manufacturing company cannot sell its product in a specific re gion because the company lacks a license or marketing network to do so. • Other Types: Additional pharmaceutical companies also exist within the pharmaceutical industry. This includes those companies that manufacturer bulk compounds and chemic als for use in the production of prescription and over-the-counter pharmaceuticals.
- 6. Based upon their marketing, sale and work basis irrespective of marketing and/or manufacturing type the company can f all under any categories of •Generic •Franchise •Pcd •Branded/Ethical •Speciality company e.g. Derma, ophhalmic, cardiac, etc •Export or Import •OTC •Distribution
- 7. Following Steps are needed to start a Pharma manu facturing firm in India
- 8. According to Experts, primarily there are five steps to s tart any pharmaceutical company. Out of the five steps, the first three are mandatory to start. • Company Registration is the first step (in case of proprieto rship you can skip this process) • Wholesale Drug License Get Drug License Number • Generate Goods and Service Tax Number which is import ant
- 9. • Get the trademark registered • FSSAI Registration (In case of selling Food and Dietary Supplem ents also)
- 10. Main Procedure and Sequence to proceed in starting Pharma Company
- 11. •First and the important step is to Write a Business Plan and find a Company Name • You should also know the Brand Names and Choice of molecule s • Design of Company Logo and Printing/Promotional Material • Fix the infrastructure (place, premises, and building) for setup • Fund generation (own, loan, investment, etc) • Company Registration
- 12. • Trade Mark Registration (Optional) • Wholesale Drug License (For both Marketing and Manufacturing Company) • Manufacturing License (For Manufacturing Company) • Goods and Service Tax Identification Number (GSTIN) • FSSAI License (If required) • Search for Vendors (For marketing Companies, Third Party/Contract Manufacturers or Loan license manufacturers. For Manufacturing Companies, Packing material suppliers, raw material & bulk drug suppliers and other requirements fulfillers)
- 13. • Finalize Packaging and Packing, Design Material for medicines boxes, l abel, foils, etc • Start manufacturing in the case of a manufacturing company • Place order to a manufacturer on the basis of third-party manufacturing/ contract manufacturing/ Loan Licensing in case of a marketing company. • When the products are ready to sell, initiate marketing and promoting pr oducts.
- 14. Conclusion: • Healthcare and pharmaceutical sectors are showing good g rowth, and starting the pharmaceutical company could be a good choice as it seems that the future is bright. • The process involves various steps. You need to gather res ources and data from recognized and valid sources. • The Internet makes the task much easier. • Therefore, the early you start the business, the better it is.