Query:
Before asking anything else i would like to congratulate you and your team for proving such a user friendly website. Its of great help for the pharma entrepreneurs, who really strive hard to make a mark for themselves. While surfing the web i hooked onto your website and found it very helpful. Keep up the great work of helping people.
Basically I am a banker, worked with banks for last 12 Years. Now i would like to start my own business of “Marketing Pharmaceuticals products – Antibiotics/generic – Tablets and Liquid – injection etc”.
I have many of my relatives who are Doctors having their own Clinics/Hospitals (Multi-specialty and Maternity, both). This provides me with an opportunity to market the intended pharma products through them. People have advised me to start with generic medicines (Tablet/capsule/injections {Antibiotics}) as it has good margins of profit.
I request your unbiased and candid opinion on this business opportunity, as i have get these medicines manufactured from companies like HETERO or many in BADDI, SOLAN.
Request to share your opinion on below mentioned queries…
1. Which all antibiotic/generic medicines i should start market with, which has good margin and are sale-able as well. (I don’t want to put my relative doctors under pressure, I want my product should be good enough to be recommended.)
2. How much investment it would require, if i plan to start with 5-10 type of different medicines initially? Please provide the break-up.
3. Do i need to be a pharma graduate/ doctor etc to start a business or do i need someone who has any such degree?
4. I would be doing this business alone, so do i need some sort of certificate etc or incorporate a company etc? please specify all certificates etc required.
5. What will be right approach to start the business (A) Should i first manufacture the medicines and push them to my relative doctors or (B) should i ask them to provide me the list of medicines (products,composition etc) and than get them manufactured?
I have limited money to start with, and not in a position to take much risk, hope you understand, so please give my the genuine advise and hand holding too.
Response:
1. We recommend all our readers to conduct market survey before launching any product because each area or even each doctor has different taste while prescribing any antibiotic or drug. You have good number of known doctors, so you can consult them before making any decision.
2. Investment depend at cost or rate of any drug. Each molecule has different cost or rate. Actual investment could be find out only after selection of products. Here we providing general idea:
Whole documentation and process: roughly 50000
Cheap antibiotics range from 95 to 270 per 100 tablets so: 95 rs*500 box=47500/- if batch size is small costing could be less or increase in batch size it could increase.
Costly general antibiotic range from 300 to 900 per 100 tablets. You don’t need to go in antibiotics costlier than 900 rs per 100 tablets/caps in initial stage. Costly antibiotics batch size could be small depend at manufacturer. Investment per product is approximately 70000/-.
Other products like PPI’s could cost you less and these are also good selling products. Read: How much investment is required to start pharma business?
3. You don’t need to be a pharma graduate to start pharma business but you need drug license for it. For drug license you need to appoint a pharmacist or partnered with any pharmacist.
Read: How to start Pharmaceutical Company?
4. You can start a company or firm to start this type of business. You need two compulsory documents to start with:Wholesale drug license number and GST number
5. You should first consult your relative doctors and get list from them & then go into manufacturing. Otherwise they can say they don’t prescribe these molecules.
Hope above information was useful to you…
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