How to start own pharma company?

Query:

I have 15 years of experience in pharmaceuticals marketing. Last 2 yrs I am PCD business now want to start my own Pharma Company. I have my own proprietary wholesale drug license.

Response:

As you have 15 years of experience in pharmaceutical marketing, then Starting an own Pharma company will not be difficult for you. As you are selling PCD products then it will easier for you to sell your own products. I feel you know better than me what’s it need to establish a company because you are senior than me in Pharma profession.

As you mentioned, you have wholesale drug license, you can start you own marketing Pharma Company at this whole sale license. You can get manufactured your product on the basis of this license. Manufacturing companies mainly ask for your drug license number and Goods & Service Tax Identification Number (GST). You can complete process here for marketing company

No debut you can start with this wholesale license but Main problem you can face is name of your firm. If you want to get manufactured your brand names with company name as same as name of your firm, then no problem at all. But if you want company name different from your firm name, then some problem may arise. I am not assured at this point but few persons do this. But that is not authentic.

My own perception is that license should be same as your company name. If not then you should mention- A division of ——– like this. If possible, you should have to go with company registration and trade mark registration process.

Initially you can start with 2 or 3 products. That will not disturb you’re your regular business also. First go with products, you sell most. Increase products as you feel, you should launch new products.

Query:
I have Distribution drug license , GST but i want my company and that should reflect HO or Corporate office based at big places like DELHI not company address i.e Odisha . 

Response:
This is not a big issue. you can place marketed by address from big cities like Mumbai or Delhi or other famous city names at your products packing. But address which you are going to put at your packing should be real like your relative address, friends address etc. You can show it is your administrative or head office. There is no restriction to make your admin office to place at any particular destination.

Your admin office or head office could be at your house or your friends house or working place. Place address at your packing from these place. But billing address will be your actual address. You can sale and purchase of drug from only your registered address at drug department. Register your company as private limited or One Person company. It will give your company best reputation and corporate profile.

Query:

Is it possible and authentic to hide?

Response:

It is matter of debut for me also whether it is authentic or not but it is possible. In reality, you will find most of marketing companies use this tactic for their better reputation. Even big names in Pharma sector use this. For example if a company has its Drug license number and operation from Cuttuck (Odisha) and want to sell at same place then it is not possible for them to sell there with Cuttuck address. People give them negative review and will tag like local drug.

No problems to show you are big corporate Company; it is come under marketing tactic. One thing you should be caution about address you place at your boxes, it should be real, even you are not functioning any kind of work from there or it’s your relative’s address. Drug department some time may use it for communication for your product related matters or you can receive any type of communication letters from anyone at this address. Second thing there should be responsible person that can deliver immediate information to you.

Query:
I am running a franchise company so i want to launch 3-4 products with my own new company without informing marketing or may in some cases my own company as the sister concern of existing franchise company.

Response:
Starting with 3-4 products is not a bad idea, it will also give you experience in own marketing company. As you feel you are running these products, you can add more products in it. It is good idea to hide identity of your company from market otherwise in market no one take your products seriously and you can suffer. You can show in market it is sister concern company of your existing franchise company but can’t mention at your products packing.

You can make products card, literature or other promotion material that shows it is related to your current company. When distributors do work for more than one Franchise Company, they show all companies are related to each other. Even in some cases, they prepare single product card for all company’s products they market. Read Packing material detail here..

 

Query:
What is major difference between single owner company and more than one owner Company?

Response:
In first look, both seem similar. But one owner company is always considered as a firm only not company. Only after company registration, it becomes company. No problem to work as single owner company but it will always consider as firm only.
Query:
Can I use same place and license for my new company or else please what is the suitable alternative? 

Response:

From my point of view, you should start your company with new drug license number and GST number with separate identity without involvement of you current business and firm. Currently it will be easy for you to start at current location and with current firm but after some time, it will become difficult for you to differentiate between your company work & priorities, and current firm work.I may be wrong but I have seen persons who was started their brand at existing firm with separate identity but after some time they were forced to withdraw or stop manufacturing of their brands due to mismanagement and without proper concentration at own brands.

You should separate your all company work separate from your current business.

 

Query:
Now please do help me little more. Please guide me how to register my Pharma Company with single owner

Response:
For registering Pharma Company, you can go through One person company Read here how to start Pharma marketing company.
Query:
Can I start in a rented house? Response:
Starting in rented place is not a problem. All banks and corporate houses have rented premises from where they operate. For rented premises you have to provide rent agreement at affidavit from premises owner.

 

Query:
What is the process in detail to register private limited company?

Response:
For registration as a private limited company, you will require minimum two person. If possible, you can include your close relative or family member as your partner in your firm and go through private ltd company. Read whole process for private ltd company here

Hope you find above article useful…

you can mail us at pharmafranchiseehelp@gmail.com

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