How to start-up pharma company by Pharmacy Student?

Query:
Hi sir I’m pharmacy student. I read your article on internet now i am studied in B. pharma final year and I want to start up my pvt pharma company but i don’t have any idea regarding that…so my questions are..
1. How to start up pharma company & whats are the different steps for that ?
2. What should i do for that(pvt company) after completing of my degree?
Sir you can reply me in marathi, hindi or in english language also.
Response:
Its good to think about start-up pharma company but we will advise you to get few years experience in Pharmaceutical Sector. Pharmaceutical sector is complex one and you should get some knowledge of pharmaceutical sector.

For starting pharma company, Read requirements for start-up companies in our below two linked articles:

For knowing Pharma Marketing Company click here

For knowing Pharma Manufacturing Company Click here

Here we have mentioned complete detail for starting pharma company. In marketing company article, you will also find requirements of private limited company registration or click here

Hope this information will be helpful to you…

How to set-up Pcd marketing after Retirement

Query:

I have read your article on PCD marketing. Quiet interesting and informative also. Recently i took my early retirement from a leading MNC after putting 30 years of service. My association with Dermatologists is very strong, but little hesitant to start my own PCD. Can you please suggest some good DERMA pcd company with unique brands. I happened to see some brands of —— and has some different formulations. I would like to seek your opinion on this subject. Please suggest

Response:

PCD marketing is great way for you to earn income after your retirement. As we discussed in Article about PCD marketing, you can start own marketing by taking pcd/franchise of any company.

You have two option either you can prescribed your own marketed products or you can prescribed pcd brands from doctors to start own business.

List of Derma Manufacturing companies check here

We don’t recommend any company to anyone. You can contact directly to companies and ask for product list, net rates and mrp etc.

For How to set-up pharma distribution? Read our article; How to set-up franchise Marketing?

Hope this information will be satisfactory to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

How to Advertise Over the Counter (OTC) products?

Query:

Directions for OTC products marketing and advertisement procedure…

Response:

Read about: What are the Over the Counter Products? How to start OTC Products Company in India?

You can advertise OTC as general products. OTC products can be sold without prescription. You can directly promote it to chemists/Pharmacy and general public. You can advertise your OTC drug brands through electronic, paper, digital and social media channels.

OTC drugs are defined as the drugs which are safe and effective for the use of common public without consultant or prescription of medical practitioner. But you have to be careful in few aspects. You OTC marketing and advertisement should be cautions about some following things:

  • It should not be Prescription drug
  • Your advertisement should not be misleading
  • It should not promote misuse of that drug

For doing effective OTC marketing, you have prepare a business plan. OTC is best way to build brand or we can say it is one of most efficient way for brand building. OTC drugs marketing is time and money consuming process. OTC market is also competitive one. You have to work hard to beat your competitors along with better quality and approach to customers.

OTC marketing and advertisement approach depend at your budget. If you have budget issue, start with cheaper tool of marketing. Door to door marketing is most cheaper and efficient way to market your product. Promote your product by visiting chemist & retailers regularly and convince them to sell your products. Slowly increase marketing budget and way of advertisement.

If you don’t have budget problem, you can also use advertisement tools like news paper, T.V. etc.

Read: How does a brand Set in Market? How much time require to build a Brand?

Hope above information is useful to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

Clinical Pharmacist and Qualification required to be Clinical Pharmacist

Clinical Pharmacist means a person who is a registered pharmacist as defined in Pharmacy Act, 1948 and working toward providing patient care to optimize the use of medication and promote health, wellness and disease prevention.

Clinical pharmacists care for patients in all health care settings. Clinical pharmacists often collaborate with physicians and other healthcare professionals

Minimum Qualification (Either of):

Scope of Hospital Pharmacist:

  • Senior Pharmacist
  • Chief Pharmacist

Salary Structure:

Salary Based upon experience.

Related: How to start Hospital Pharmacy?

Top Ayurvedic Companies in India

Why Indian Medical Sector Is So Corrupt?

Not all medical professions are corrupt but majority of professionals become corrupt after coming into professional. No one is corrupt by birth. Situations and surrounding throw a person into corruption. We regret for this article and feel sorry for honest and professionals.

 

There are three types of persons generally we encounter in daily life:

  • Persons having own standards
  • Persons having compromisable standards
  • Persons having no standards

Same is applicable to healthcare professionals. They are also human being.

Here we will try to find out the reason behind corruption in medical line and society most respected person is forced to indulge into corruption.

Reason 1: Highly Competitive Market: Medical sector is highly competitive. Companies use every weapon to sell it’s product. How will you convince a person to do your favor when you don’t have any special products . That’s in case of medical companies, every company has similar products and they try to convince doctors to prescribe their brands. When they fail to distinguish their brand from others, offering money, gifts, tours and freebies against prescription starts. In starting freebies amount is small. As this practice continue for long term, it becomes habit. In recent time, new doctors get this practice hereditary. They learn from seniors and indulge in this practice. Now it become a prescription generation tool. Some doctors don’t write any single brand without any commercial benefits.

Reason 2: Expensive Medical Education: In India completing medical degree is one of the hardest and expensive one. For completing a MBBS degree requires 6 years and investment of not less than 60 lac. A person who invested this huge amount will want to justify his expenditures . A 60000 salary government job or only reliability at OPD patients consultancy fees can’t overcome huge investment burden. The cost of study also throw a doctor to indulge into freebies with pharma companies. One of our known doctor who were sharing his first experience of freebies says,”He had 20 lac study loan.  He arranged nearly 20 to 25 lac from near and dears to give donation of 50 lac to take a admission in a medical college. First few years he do job in governmental hospitals. Major part of his salary went to installment of study loan. After paying installment what he left, couldn’t justify his day/night job.”

Reason 3: Freebies Culture: In medical profession, freebies have become culture. It has been part of daily routine. No one consider it bad thing. Medical companies don’t hesitate to provide freebies and doctors don’t hesitate to receive. It has become primary ritual to get started prescription at many places. Now its a marketing strategy. How much a company afford to spend at doctors is directly proportional to sale of that company.

Reason 4: Shortage of Doctors: In India, there are less doctors as compare to patients. India has approximately 1 doctor at 1681 patients. Shortage of Doctors decrease competition level, hence decrease quality of treatment and increase cost of treatment. If there is enough doctors available in India, then Doctors will want to provide best treatment at effective cost. Shortage of doctors is also one of the main reason of increased corruption in pharmaceutical sector.

Reason 5: High Margins: High Margins are also root cause of corruption. Pharmaceutical companies get huge amount of profit margin. This margin is used to lucre healthcare professionals to conduct unethical practice. Expensive gifts, money distribution, foreign tours, high profile seminar arrangements are common things that are used by pharmaceutical companies to get generate prescription.

Why Pharma Distributors are switching business to Ayurvedic?

Pharmaceutical sector is one of the favorite sector when it come to start a business. Highly profitable, regular demand-supply, growing sector and lot of reason to start. But from last couple of months, there are uncertainty and unclarity about pharma policy. Camel sits what side (Oont kis karwat baitega) is just a prediction. This financial year is crucial for Indian Pharmaceutical Sector. May be new regulations are for the betterment of pharmaceutical sector and patients but they are impacting short term and long term effects at pharmaceutical sector.On the other side, Ayurvedic Sector is new hottest trend in Indian Market. Changing mindset and increasing awareness about side effects of chemicals present in products, making brighter future of Ayurvedic Products. Increasing demand and negligible law and regulation in respect to Ayurvedic products create lot of business opportunities in this sector.

Pharmaceutical sector is growing. We can’t doubt in this. Ayurvedic products are not creating much impact at pharmaceutical sector. Ayurvedic products are only indulging share of cosmetics, OTC and FMGC products. Pharmaceutical sector isn’t in any fear to loose market share to Ayurvedic medicines in near future. Even Ayurvedic Doctors (BAMS) also prefer to prescribe allopathic medicines in replace with Ayurvedic medicines. Then why switching Pharma to Ayurvedic trend is increasing. May be distributors are not replacing pharma with Ayurvedic but they are taking distribution ship of one or two ayurvedic companies also.

Here we will try to find out reasons behind it:

Increasing Demand of Ayurvedic Products: 
One of the main reason for switching is increasing demand of Ayurvedic Products. Every one goes with trend and want to sell which is going to sell easily with good margin. Customer now started to ask about products whether they has side effects or not. If any product bears a label of Ayurvedic, it enough for any customer to buy it. Ayurvedic preparations are considered as free from side effects by most of customers (Some Ayurvedic preparations in reality may cause side effects). As customer demand for Ayurvedic Preparations, its lucrative thing for any business start-up. Over the Counter products segment are also capturing by Ayurvedic products. Food and dietary supplements and related products are overtaking by Ayurvedic Preparations.

Availability of more Companies:
Before Patanjali rise, no one take seriously Ayurvedic and Herbal Products. Few well known companies like Dabur, Himalaya, Elzac etc were only seriously involved in Ayurvedic medicines and products. After Patanjali, there is boom of new Ayurvedic Companies as we see in pharmaceutical sector. Market size of Ayurvedic and Herbal products has been increased, so opportunities also. This creates more option for distributors also to add companies in cart.

Strict Rules and Regulation in Pharma: 
As pharma industry is growing, rules and regulations are becoming strict to meet the international standards. In this changing phase of pharmaceutical sector, pharma professionals are feeling uneasiness. DPCO and generic movement decreasing profit margins whereas in other side, Ayurvedic sector are very nominal rules and regulations. Ayurvedic products are sold out either cosmetics, food supplements or medicines. For selling of Ayurvedic Products, we don’t require any license.

Similar Distribution Pattern:
Ayurvedic and Pharma products mostly sell out at pharmacies and chemists. Ayurvedic products follow the same distribution channel as pharmaceutical products except few cosmetics. This help to do both business simultaneously.

Easy to Start:
Ayurvedic Business is easy to start and require less formalities as compare to pharmaceutical business. Easiness create more scope for new comers and already established distributors to start Ayurvedic products.

Pharmaceutical Sector has huge market in India and growing with double digit figure. It will not show any impact of Ayurvedic market in near future but switching creates some aspects of future.

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

Is that possible to Re-pack Ayurvedic Products in own Brand?

Query:
I need some more information about Ayurveda marketing/sales related business.
Query number 1- One product is already available with xyz company and I will buy that product from that company @ 100/- per product in bulk orders and than will Re-pack with my brand name and will sale after that @ 120/- OR (with profitable margin) . Is that possible legally ?
Query number- 2 , I have one unani formula that may be exist in the market but i would like to manufacture that product by another manufacturing company and I would like to use my brand/company/logo name in packaging . Is that possible legally?
Looking forward your response with details .

Response:

1. This is not legal. Without re-packaging or manufacturing license, you can’t pack it in your brand. You have to get manufactured your brand name products from other manufacturers at third party/contract manufacturing basis.

2. This is possible. If you have formula and manufacturing company has approval to manufacture it then you can get manufactured product with your brand name from Ayurvedic/unani Manufacturing Company

Hope above information is helpful to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

Doctors are allowed to write Brand Names. Misconception about New Generic Prescription Law?

Misconception about New Generic Prescription Law:Recent speech of our Prime Minister rise a very controversial issue in respect of pharmaceutical sector and that is Generic Medicines. This is hot issue world wide. Every country leader whether it is USA or India, everyone is talking to implement generic medicines.

First we need to understand the difference between Branded and Generic medicines. Branded and Generic medicines are same in every aspects like dosage form, efficacy, potency, strength, purification, standards and other things. Only difference is at their marketing type.
In Indian Pharmaceutical market, If a medicine is sell through doctor’s prescription, it becomes branded medicine and if sell in open market without involvement of doctors, it become generic medicines. That’s the concept and difference that differentiate branded medicines from generic medicines in India. Otherwise we can’t differentiate between these two in India.

In western countries, patented molecule medicines are considered as Branded medicines where as medicines whose patents have been expired and all pharmaceutical manufacturers are allowed to manufacture this molecule. Products manufactured by manufacturers other than patented medicine manufacturers come under generic medicines. Indian market contains approximately 90% percent of medicines that come under generic medicines but promoted as branded medicines. So we use a new terminology for these and that is Branded Generics.

Now come to misconception and rumours have been separate across country in pharmaceutical sector. With notification of Heading ‘Use of Generic Names of Drugs’ with subtitle “Every physician should prescribe drugs with generic names legibly and preferably in capital letters and he/she shall ensure that there is a rational prescription and use of drugs

Romours are there, using brand name of medicines has been prohibited and doctors can only use generic names at prescriptions but reality is different. This notice only bound doctors to write generic names (in other sense, each molecule names present in medicine) but doesn’t prohibit or ban use of brand name/company name with it. Doctors will have two easy options:

  • Use of Brand Name then below it or in bracket use of generic name of each molecule present in it.
  • Use of Generic name first and after it or in bracket use of Brand name of molecule.

It means nothing is going to be changed, only prescription writing time for doctors has been increased. Better alternative to reduce prescription time is generate prescription through prescription software. That is only going to make some work loads of doctors.

Have a look at some merits and demerits of generic names writing at prescriptions:

Merits:

  • It will be easy to understand doctor’s prescription as generic name will be mentioned along with brand name.
  • In many cases, same brand name available for different compositions of different companies in India, it will prevent wrong product dispensing due to resemblance of brand names.
  • There may be increase in low MRP based competition as awareness about similar generic versions will increase.
  • More generic medicines will be available and road for Pure Generic companies will be boasted.

Demerits:

  • Increase of Workload at Doctors whose already has lot work pressure at daily routine.
  • Importance of Brand name will fade as generic name will be written along with brand name.
  • Substitution of a particular brand with other brands will be increased.
  • Confusion among pharma companies and doctors will rise in aspect of writing generic name and brand name.
  • Pharma companies profit margin may fall down which may effect adversely at new innovations and researches.

Government E-Platform for Pharma Trade

Drug department is reported to establish an online platform for regulating sale of all types of medicines sold in country. The objective of this step to ensure the availability of quality standard drug and regulate the supply of drugs under developed and effective way through autonomous infrastructure.

What is Proposed E-Platform for Pharma Trade?

Government has proposed an E-Platform system for pharma trade in which all pharmaceutical companies, distributors and retailers have to register them self and enter all details of sale/purchase of medicines along with batch number, quantity, expiry and other purchase/sale details like return, sale, stock, dispose etc. Details can be entered at least once every fortnight basis through mobile phone or computer. They have to fill purchase detail along with name of supplier, quantity, expiry and other related details where as sale detail with name of patient, doctor’s name against whose prescription medicines issued along with quantity, expiry and other related details. Address of patient is not necessary to mention. Detail of This step is come to prevent illegal drug trafficking and fake medicines. 
No retailer or e-pharmacy will be permitted to sell any medicines unless his pharmacy is registered on e-portal. Along with it, no dispensing/sale of drug would be permitted by any entity the area for which a license has been granted. All prescription record and patient’s detail has to enter at e-portal if any medicine include in Schedule H, H1 or X is dispensed where as patient detail is relaxed in case of medicines other than prescribed in Schedule H, H1 or X. But these medicines also could sell against prescription of registered medical practitioner only.
The details of medicines dispensed (includes prescribing doctor’s registration number or other authorized person’s identity number, name and registration number of pharmacist and quantity etc)  will be entered in the online portal and bill will be generated through the system

Hospitals and other clinical establishments will also be required to enter detail of medicines dispensed/distributed/issued/made available to patients along with any adverse reaction if occurs.

Generic for All !! Could it be possible to implement in Indian Difficult Pharma Market?

As per news, Government is going to make mandatory code for making availability of generic medicines. As Prime Minister Modi ji spoke in his speech about compulsory prescription writing of generic name of medicine by all Doctors. But only Doctor’s generic prescription is not enough to provide benefits of cheaper generic medicines to patients. Chemists and Pharmacists can substitute these prescription with branded medicines. Until there will be regulation system at complete supply chain, it is not practical to implement generic medicines theory. Chemists could make it impossible to implement. If a doctors writes generic prescription, ball will be in court of a chemist. He will be free to dispense a drug with highest margin to him. He will sell it at MRP which is much higher than its actual cost. Same is also in practice from long time in case of generic medicines. Most of chemists sell generic medicines at mrp which give them more than hundred times profit.

Along with doctors, pharmaceutical distribution chain could come under these new regulations. Pharmaceutical Distribution chain includes pharmaceutical companies, distributors, chemists, pharmacists. These new regulations could also cover distribution channel for effective and easy availability of generic medicines. New regulations could be implemented with strictness. As per news, there would be provision of punishment if anyone in supply chain offenses any provision. Punishment may vary from warning to cancellation of registration/license of manufacturers, distributors, chemists, pharmacists and/or doctors.

With view of promoting generic medicines all over India, Health Ministry is amending Drug and Cosmetic Act.  Amendment in Drug and Cosmetic Act will not only bound to compulsory generic prescription writing but also it could bring many big surprises and changes in pharmaceutical sector. After analyzing reports, last few months statements, government failure in implementing schedule H1, ban of irrational combinations and news headlines, we are predicting some possible amendments in Drug and Cosmetic Acts:

  • E-Platform for medicine Trade
  • Compulsory generic prescription writing 
  • Compulsory Sitting of Pharmacist at medical shop during working hours.
  • Authorization of Pharmacist for wholesale drug license
  • Fixing of margins at every stage of Pharmaceutical Supply Chain
  • Punishment against offenses
  • and many more
These are predictions only, in actually it may be differ but one thing is sure, Indian Pharmaceutical regulations are going to be same standard as of western countries. Hope all would be in favor of pharmaceutical industry and patients. In India, medical expenses consumes more than 20% of a person’s income.