I have few doubts which if you can clear out as I have just been into the business for sometime now and initiated wholesale drug license and other pre requisite required to start Pharma Marketing Business.
Doubts and Queries.
- As per your article how can I get market value/sales of particular Formulation/brand from market.what are the way to get that Sales Figure? Top brand and their formulations growth & sales? Link to Article: How to Sell through Prescription?
- What would be minimum to maximum percentage Doctor charges for writing prescription (Cash & Commission) & is that to be calculated on MRP basis?
- Does Contract manufacturer works on Minimum Quantity Basis? Payment terms and it their any contract based on annual basis or Batch basis?
- I want to start with Chronic Segment and there are many players into the field which are big pharma’s. How to Convince Doctor to Prescribe my brand? just for understanding and strategy design.
- Contract manufacturers are to be selected based on Products/Formulations(Aripiprazole/ofloxacin) or dosage form(solid,liquid,gel etc)?
- What are Pre Contract understanding need to be taken in consideration while dealing with CMs?
- How to get information about Contract Manufacturers , are there any directory or publications providing information?
- Sales and Value figure, you have collect from various sources, new letters of companies, monthly/quarterly/yearly sales analysis by experts and agencies.
- Minimum charges depend and vary area to area. It could be 20% to 50%. Charges is calculated at PTR basis or Price to Stockist basis and some times MRP basis depend at your commitment with doctors.
- All contract manufacturers work at minimum quantity basis. We refer it as minimum batch size. Payment term that is followed by most of manufacturers are 25% advance and remaining against proforma invoice. One time contract is signed by both parties. You don’t need contract at every batch.
- At every segment, you will find lot of competitors. Its depend at you how can you convince doctor for prescribing your products. Most of companies follow techniques we discussed in our article: How to sell through Prescription in Pharma?. You can meet doctors as regular basis. Leave some sample at your visit so doctor can try at his patients and could be assured about quality of your product. Once he will be convinced about quality of your product, you can use more promotional tactics like commission, gift etc.
- Contract Manufacturers are to be selected at basis of dosage form and your requirement.
- Most important thing to be consider is Timely Delivery and Quality of their products. These two factors is key for selecting Contract manufacturers.
- Contract manufacturers you can search at google. There is lot of websites who will provide you information about third party or contract manufacturers. You can follow our article for list of contract manufacturers information