just catch-up How to start pharma marketing Company? Documentation, license, procedure, steps etc. Part-1 here
I read your article but I still have a few doubts. Can i ask you and get them clarify. Firstly what are the services you offer to start up pharma entrepreneurs like me
All things what is in reach of us. From products to marketing, Dispatch to sale etc.
They may be anything right from providing information till the marketing ….don’t hesitate and just go on with what you can do from your side.
First things first.
I am a start up guy maintaining cordial relationships with a few doctors all over my circle. Not many but upto 25 doctors. I am about to start with psychiatrists for now. I differ in making a mark as a pharmaceutical marketing firm. I discuss with doctors and make my research and ask their expert opinion regarding drugs and then only I fix to what drugs should I be providing under out brand with our trademarks.
To me stability standards and safety are the priorities. I don’t compromise on ethics and morals for money. Now guide me through the process of getting drugs manufactured by third party manufacturers but they should come under our pharma like marketed by address ———————- with our TRADEMARKS.
Trade mark is different process and third party manufacturing is different. I explain both things separately. First you need to take drug license number and GST Number
Without these no reputed third party manufacturer will manufacture your product. After taking both licenses, your firm will be formed. Finalize all things, like company name (as you have finalized)
Choose brand names for compositions, you have selected.
That’s over. I have it since 2015. GST Number is also over. Tell me the next steps. Now I am talking to doctors regarding formulations they want.
Read here: How to fix MRP, PTR and PTS?
Doctors will be fixed and finalized today itself.
Brand names means trademarks for each and every drug I want to get manufactured right ?
I should be contacting an advocate for this right?
Now tell me what’s the problem you are facing
Now for trademarking is there a special kind of an advocate or is anyone suitable and also the present rates for trademark registration is not displayed anywhere and also another doubt is if we trademark a drug say propranolol ….what about the different variants based on their strengths..say like i want 10 20 and 40 should i go for 3 trademarks or one is enough.
Rates could be confirmed by advocates who handle trade mark process. These advocates only handle trademark related things. In india, only five office of trade mark registry where you can apply
Trade mark doesn’t given to salt name. These are issued at brand names like Suppose you choose ” popo ” name for propanolol. Trade mark will be given to “popo” not propanolol. This is at least two year process. If your brand name “popo ” will be registered then you can use any strength after it like popo-25 or popo-50 etc.
Oh ok so only one trademark is enough for its all variants. No need to go for each and every strength.
Yes only one is enough for all strengths.
Now how much does we have to pay for those who handles our trademarking section….i mean what’s the proper amount based on your experience
You have to pay nearly 7500 per name. As per previous fees. 4500 Government Fee
3000 is charged by advocates
3000 per name ?
Do they help in fixing the names too ?
Is it because of that they ask such amounts ?
Or we should do our searching and fix it ?
Actually its long process of nearly two year
Once you have applied, government assure that it is not used by any other company, only after confirming, Government issue registration to any name. Till then you can use only TM mark only not R. Some ask for 1000/- only but they don’t take care.
In this fee they handle all objection
But if some another company opposed you name then you have to submit fee for opposed name
We don’t need such people who doesn’t take full responsibility. Do you know anyone from chennai who could handle trademarks for us. Chennai is 500 kms from our office. I am from AP
Sir, I know only in Delhi. You can search through net in chennai.
Ok that’s fine.
Just asking….anyways we can ultimately have the work to be done without hassles or least possible delay. Can u manage in delhi. Tell me who is efficiently related to these and will take our work if given. Tell me anyone whom you know and could get them done. Why because we won’t have to go after them. We will be busy meeting doctors and manufacturers.
I can’t handle because I also don’t have time to follow up. But i assure they will care of all your things. I can give you number and detail. You can take all details from them. They cared my brand name —– very well. They will care your brand names also.
I am going to invest a huge amount and don’t know what will happen to it now. What’s a good amount in your opinion to start a allopathic pharmaceutical. Tell me then. Caution me.
Start with 4 to 5 products or as you thing is essential. Because after some time you will need more money to invest for stabilizing it.
First you will invest at products
Second you will invest at doctors
Third you will invest at retailers
You are gonna to invest at three locations
First time you have to available your product at all counters. You have to give commisions or tours to doctors. Second one you will receive order from chemists but not payment. Payment will come when you will supply third order to chemist for your first order
Two order payments you have to invest at all chemists you cover, plus doctor will take all his commission writing. Soon you will find stock is going to be finish, you have to re order it.
Here you will also have to invest.
Now calculate how you have to invest to survive your initial phase to take your company in profit
That was as per my experience
If you have better option then you can do any thing different. If you have better plan then you can share it with me.
Read here: How to calculate profit margin in pharma marketing?
I am thinking about all the things you have mentioned
And in terms of money. How many lakhs is a safe bet ? Just give me a figure. I have tied with only doctors who have their own counters. husband and wife as doctor clinics. And inpatient doctors with own hospitals. I am starting with only one division- Psychiatry
You can start with 5 to 7 lakh in starting
Read Here: How much investment is required to start pharma marketing company?
I will be finalising by medicines list today…
What else documentation should I get done before starting or approach third party manufacturers
I have wholesale license and GST number
I have my visiting card as MANAGER and the firms card and the current accounts needed
They will ask for only license or GST.
Not any other
Make agreement with them
I have a few new formulations in my mind
How should i proceed with them
And also what I feel – it is very important for me to meet the manufacturers in personal for the first time rather then mailing them or contacting them on phone. What do you suggest?
Meeting will be better
You can visit their factory to check quality standards
I am thinking of puducherry tamilnadu to meet manufacturers but for psychiatry drugs and allopathy do you suggest any zones like HP or solan or any other manufacturers. I need quality and stability
Poducherry is good option because it is nearby to you.
My first preference is for the patient. Even if i loose money i am good with that but can’t compromise for ethics and morals. From where you get inspiration of all details.
Wholesale license and GST number combinations are done …..Trademarks and meeting manufacturers is remaining. Should I wait for trademarks and then meet manufacturers or should i meet them in advance and get the availability and quotes and then mail them when i get the trademarking done. I am thinking like why waste time. let the trademarks and the meetings go hand in hand and save time and know the availability of our desired molecules and also the pricing. What do you suggest ?
Just go to meet manufacturer
Trade mark is not an issue but before choosing make sure not matching to any other company’s brand name
Before meeting the manufacturers i will ask you a few things regarding how much can i ask them regarding pricing and also regarding payments in advance. Many told me not to pay anything in advance to anyone until unless you want that product from them. They told me that once paid money won’t be recovered at all
Third party manufacturing has one simple payment term condition
Remaining against performance invoice. Until you finalized all packing detail and other things, you don’t need to pay any thing to them
Oh is that the same with everyone ? I have seen a form stating that they mention it in a sale agreement ..right? I won’t take one more second of your time for today….It’s more than you can spend on me