If you have experience in Pharmaceutical market and want to start your own pharma business then we are going to explain here about one of the best option i.e. Starting pharma marketing company. It could be best option for you. Worry about how to start your own pharmaceutical company! Here we are providing few quick steps that can help you during this process. Along with pharma marketing company, many other business opportunities is available in healthcare and pharma sector. Have a quick look at other business opportunities in Pharma Sector:
- Top most business opportunities available in Pharmaceutical sector
- How to start pharmaceutical manufacturing company in India?
- How to start Ayurvedic business, manufacturing and marketing company?
- How to Start Pharma Distribution Business?
- How to Start Pharma Retail (Pharmacy Business)?
- How to Build Strong Distribution Channel?
Every State of India has almost same form of formalities. Only minor requirement could vary state to state. You should first confirm to Drug Inspector office about starting pharma marketing company.
You can view this video for knowing how to start Pharmaceutical Marketing Company in Hindi audio where as content is in English.
Documentations and Licenses:
- Company Registration
- Drug Licence number (D.L. No.)
- Goods and Service Tax ( GST ) Registration
- Trade Mark registration
- FSSAI Registration
First three documents is must for starting. You need to get issued drug license number for whole sale, stock, purchase, sale, exhibition and distribution of drug. For Whole sale drug license number, you have to visit to your local drug control or drug inspector office. Goods and Service Tax identification number is issued by tax authorities.
- Take Experience and/or training to start Pharmaceutical Marketing Company
- Write a Business Plan
- Choose Location of Business. Search for shop/building/premises for office, licenses and stock. It may be rented or owned but there should be adequate space as per government norm.
- Finance Source (Own Saving, Bank Loan, Investment etc.)
- Research and Prepare list of all molecule and combinations, you want to launch in market.
- Finalize Company Name and Brand Names of all products. Be sure these don’t resemble to any other company or brand already working in Market. Due to presence of thousand of brands and companies, it become difficult to choose unique name but you should try your best. Already registered or in process Trade Name and Company Name you can search at http://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx . Trade name in class 5 and Company name at class 35.
- Company Registration under Company Act
- Appointment of registered experience person or registered pharmacist as per norms. ( In case if you or any of partner are not EP or Pharmacist)
- Wholesale Drug License Number Registration.
- Registration of company under Goods and Service Tax
- Finalized all vendors i.e. manufacturers, printer etc.
Procedure and Sequence:
- Write a Business Plan
- Choose Company Name
- Choose molecules and Brand Names
- Designing of Company Logo and Printing/Promotional Material
- Choose place and premises for starting company
- Fund generation (own, loan, investment etc)
- Company Registration (OPC or Private Limited)
- Trade Mark Registration (Optional)
- Apply for Drug License
- Apply for GSTIN (Goods and Service Tax Identification Number)
- Search for third party manufacturers
- Finalize vendor for manufacturing (read whole procedure for pharma third party manufacturing here)
- Place Order to Manufacturer
- Make an agreement/contract
- Finalize Packaging and Packing, Design Material
- Complete payment and other formalities (Generally 25% Advance and 75% against proforma invoice)
- Then all work will be done by Manufacturer
- When products will be ready, manufacturer will inform you and will send proforma invoice (Time taken for new products is approximately 30 to 45 days)
- After remaining payment manufacturer will dispatch the product to your billing address
Along with applying for above registrations, you can move upward with following steps. Following work, you should finished before issuing registration certificates, so you can save your time and you can meet with your deadlines.
- Designing of Logo
- Company Profile
- Preparation of Visual Aids
- Preparation of Product cards and other promotion materials
Now you have products with your own brand names and your company name. Have a quick look at documents required for particular registration and licenses:
Requirements for Company Registration:
- DSC (Digital Signature Certificate)
- DIN (Director Identification Number)
- PAN (Permanent Account Number) Card
- TAN (Tax Deduction and Collection Number)
- Identity Proof (Electronic ID / Aadhar Card / Passport / Driving License)
- Passport Photo
- Address Proof (Bank Statement / Mobile Bill / Telephone)
- Rent Agreement (Notarised: For rented property) or Ownership proof
- Latest Electricity Bill
- MOA(Memorandum Of Association) or/andAOA (Article Of Association)
- NOC if required
Requirements for Drug License Number:
- Local drug inspector/drug selling authority office can provide you full details of requirement for a whole sale license. Few we are describing here. Procedure and details for applying for D.L. number can be change according to government policies.
- Application will be submitted in form no. 19 with other detailed information forms.
- You or your partner (if any) should be a registered pharmacist or Experienced Person (Duly registered under local authorities) or competent person. If you don’t have any of above qualification than you can appoint or hire a registered pharmacist or EP (Experienced Person) and make him authorized to handle all work on your behalf ( Appointment letter will be submitted with application)
- Premises size should have minimum of 10 square meter area (requirement of area may vary) and should have single premises.
- Fees ( mode of fee and prescribed fee may vary)
- Blue print or layout of Premises
- Freeze purchase bill copy with complete address
- Air Conditioner if applicable
- Ownership or Rent agreement deed of premises.
- Electricity bill of premises.
- Affidavit of proprietor, partner, pharmacist, EP etc.
- Firm registration receipt in case private limited firm. List of directors, address proof, article of association etc is also to submit with application form
- Partnership deed if any
- Any other documents as asked by local drug controller etc.
After submission of documents, inspection will be carried out by local drug authority for accuracy and correctness of detail submitted with the application. Drug authority reserves the right to approve or reject your application if not satisfy with application.
After issuing of drug license number for sale of drugs for which you have applied will be granted. List of licenses and forms you can check here. Now you are permitted to sale, purchase, or get manufactured drugs with your marketed by address.
Qualification and Eligibility for EP or competent person:
- Person Should have one of the below qualification or eligibility to be EP or competent person:
- Registered pharmacist under state pharmacy council or
- Minimum one and half year experience at registered wholesale drug licensed firm after graduation and name is registered as EP at Drug Office
Requirements for Goods and Service Tax Registration (GST):
GST is essential in India for doing any type of business/trading but below 40 lac annual turnover, there is no requirement of gst registration. GST registration is compulsory to obtain within 30 days after exceeding turnover above 40 lac. Unlike VAT, GST is valid in all states. It can be applied through portal provided by state government or center government. Here we are describing few most common requirements for Goods and Service Tax:
For applying for GST Registration, you can follow following Steps.
- Go to www.gst.gov.in
- There will be the two options: New User and Existing User
- Click at New User
- Enter your detail for apply GST
- Enter you mobile number and Email Address of the authorized signatory of the business entity. This number and e-mail will be used for all future communication from the GST portal
- You will receive a OTP at mobile number and e-mail id you entered in previous step
- Enter this OTP.
- After that follow all steps and enter information and scanned images as mentioned in Provisional registration form
Documents required for applying for GSTIN:
- Digital Signature Certificate (Class II)
- Address Proof of Business Entity
- Proprietor/Partners/Directors Address Proof
- Aadhaar Card, PAN and Image etc
- Ownership Proof or Rent agreement
- Partnership deed or memorandum of association/certificate of incorporation
- Back Statement and Bank Detail
These are steps for starting Pharma Marketing Company in India.
If you want to sell and purchase nutraceuticals or food products along with pharmaceutical products, you have to get registration certificate from food and drug department issued by FSSAI.
Click below links to read procedure and documents required for next two registrations
If you have started the procedure for setting up above steps, mean while start art work and packing designing and other office decoration work, finalizing the vendors, trade mark of Company name, brand names etc. Issuing of D.L. no. and TIN takes nearly one months or less or depends upon many other factors.
Read Here: How can you establish your pharma company?
Scope of Pharma marketing company and different types of companies you can start with below procedure:
- Prescription selling Company
- Generic Selling Company
- OTC (Over the Counter) selling Company
- Distribution and Hospital Supply Company
- Export Company
- Import Company
- Derma Products Company
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