Query 1:
I’m diploma in pharmacy residing near Belgaum Karnataka state. I’m interested to start a small scale manufacturing unit. Actually I was interested in manufacturing as a third party rather than starting my own pharma company. But I’m new to this so want details. Can you help me? Can you mail me the requirements to be a third party manufacturer, estimated investment n workers needed. I’d also like to know the profitability of the business. Thanking you. Will be waiting for your reply…
Response:
Requirement and procedure you can read at our article: How to start pharma manufacturing unit?
Requirements, staff, investment will be same whether you are going for third party manufacturing or you have own marketing. Read complete detail about worker’s needed, challenges and others in this link: What is the requirements and Challenges one has to face to start Pharmaceutical Manufacturing Unit?
For being third party manufacturer, you should have adequate requirements to fulfill the consumption of companies who will give you order for their products.
No doubt it is profitable business but one condition require, you should have enough marketing companies to provide you adequate order for regular 8 hour or more shift. otherwise manufacturing unit has expensive maintenance cost. Also find for complete detail about plant here.
Query 2:
Dear sir, I am pharmacist and I have 1 year experience in pharmacy industry, so now I want to open my pharma company, problem is I don’t know how to place product in markets, and how is third party manufacturing is good profitable or not, please give me what business I can do in pharma industry to earn good or profitable, I want to investment around 50 lakh.
Response:
As you mentioned, you have one year experience in pharma sector. So we will advise you to get some more experience before investment. Pharma industry is very vast and profitable. But it is profitable for those only who know how to make profit from it, otherwise all investment could be dump.
You didn’t mention in which field you have experience. Like wise we will recommend you about business opportunities in pharma sector. You can know complete detail about opening pharma company here: How to start pharma company?
You have to learn that where you can sell or how to place your product in market before starting marketing company. you can read : How many type you sell products in Pharma Market?
Third party manufacturing is good and profitable business. One condition require, you should have good number of marketing companies who give regular order for manufacturing of their products.
Investment you mentioned is enough for all business opportunities but before start conduct proper market research and prepare yourself. Read business opportunities in pharma here. Hope above information was useful to you…