How to Create an Effective Facebook Advertisement Campaign Pharmaceutical and Healthcare Sector?

We all know Social Networks. We all know Facebook. We all know Facebook sells ads. We all see sponsored posts in our news feeds. We have become used to these posts. Facebook is a business who sell ads to its member. Facebook emerged as a powerful tool for marketing and branding in online era. But unfortunately researches show that only 10% of Big Pharma and Healthcare Brands are successful in creating good social presence and followers engagement. Facebook and other social networks are marketing monsters tools that can’t be ignored by Healthcare Sector. But most of companies are suffering to get followers engagement. That means either people are not interested to get healthcare information at social networks or Companies have been failed to create such information and social presence that are unavailable to satisfy users requirement.

Social Networks could be helpful in brand building along with getting some business but for this we have to learn how to use face for business promotion. Here we are going to discuss about Facebook Business Promotion and effective Facebook Ad campaign. In this article we will discuss things to understand for effective Facebook Page building, How to create a Facebook business page, how to run effective facebook ad campaign. First discuss about important things about Facebook Page.

Before starting with facebook ad. We first learn to need about Facebook way of working. We have a option of creating Page. Facebook considers a Page as Business. If we are going to create a page at facebook. Facebook will thing its our business. For example we created our Facebook Page Pharma Franchise Help to promote our blog at social network. This page prime purpose to create presence at social network. That doesn’t become effective and number of likes, shares wasn’t as effective as it should be. Reason of not getting popularity was not poor content or not having good information but prime reason is that Facebook has changed its policy and number of Page feeds in Users Post was declined by facebook at major extent. It has removed 90 percent of page feeds and only show 10% page feed when an user log in his account.

That’s the major set back for new facebook pages who recently become aware about Facebook as advertisement tool and we consider it free marketing tool. That was our elusion, it was not more free. Either we have to create more viral content or we have to pay to facebook for showing in users feed. With page having 25000 page likes, a page post will hardly reach to 1500 users organically. Percent of organic reach is much lesser then we expect. From 1500 users hardly 80 to 90 person will engaged with post. Engage word is used at Facebook for any action taken by user for particular post like Likes, Share, Comment etc. These numbers are very less.

Reason behind these lesser organic reach is to boast advertisement and encourage business pages to pay more to facebook for more engagements. So facebook is no more free for business. Its free for its users because they help it to get money from businesses. Facebook Ad is good way to making brand awareness and effective way to tell people that we are also present in market. But its good way to get instant business in healthcare sector or not is matter of more research.

Things to be considered For effective Facebook Ad Campaign:

  • Start with Low Budget and Increase it gradually according to response from previous advertisements.
  • Don’t Directly Sell any thing at Facebook. Facebook is not for selling purpose. Facebook is one of the best tool to get brand building and brand awareness. Selling too much or offering too much can’t cause negative branding.
  • Use Best image related to company/organisation/service or providing valuable information is good way to start Ad campaign. Image and videos get more engagement as compare to simple text post. Facebook also advice to get started with image (with minimum written portion) and video to get better results.
  • Provide valuable information at Business Page. Don’t promote unnecessary own self. People use Facebook to contact with other people, acquire knowledge and spend free time interestingly and with entertainment. They don’t use it to buy or sell any thing. If we provide valuable information, own brand will automatically highlight.
  • Small Post, Interesting Images and Short Videos are best way to contact with our followers. Original post, images and videos get more engagement as compare to copied.
  • Don’t follow or copy techniques and ideas of other pages. Create own style and ideas to promote own brand. If others are using any idea and we use same then why people will like or follow us to get information or entertainment.
  • Post regularly. Pages with regular posts get more engagement compare to pages with rare posting.
  • Create a Blog. Blog is one of the most crucial way followed by big brands to engaged with its customers and followers. Having blog and posting regular posts at page give it more ethical look to a Business Page.

This could also be helpful to generate franchise/pcd queries for Pharma Companies. As we mentioned in our Article how to generate sale and parties for Pharmaceutical franchise Company, Facebook may be an important tool for getting Pcd and Pharma Franchise Queries and generating sale. Now many pharma franchise companies have started to experiment facebook ad. Before this Google Adwords was only way to get franchise queries by means of using online advertisement other then promoting own website or certain portals whose most of queries are always fake. Facebook Ad is good way to making brand awareness and effective way to tell people that we are also present in market. But its good way to get instant franchise query or not has not surety. As we analyse it, its not an instant way to get franchise distributor or persons. Its way to promote company to create interest and awareness about products and services.

How to Create Facebook Business Page?
Steps For Desktop:
Step 1: Log in at Facebook profile (Individual/Company etc)

Step 2: Click at Right corner button as shown in below image

Step 3: Click at Create Page as shown in above image.
Step 4: A create page option will open. Showing option for which type of business we want to start or page will represent which type of option from below options. Options will be generally as like:

  • Local business or Place
  • Company, Organisation or Institution
  • Brand or Product
  • Artist, Band or Public Figure
  • Entertainment
  • Cause or community

As shown in below image

Step 5: Click at Company, Organisation or Institution Option if we want to promote Company. Click at Brand or Product option if we want to promote any one or certain products.

Step 6: Choose from the category and Enter Name of Organisation or Company.

Step 7: Click at Get Started at shown in Image above. A Page Showing Company Name will be open as shown in Below image:
Step 8: Add Cover photo, Set user name and add logo or company profile picture at places shown in picture above. We can also invite our friends to like this page.
Step 9: Now Facebook Business page has been created. This will be like as below image after adding all things:
Now we have a Facebook Business page for advertising, promotion and brand awareness at this giant social network.
Steps for Mobile:
For mobile Facebook app either login in Facebook app or Facebook Page Manager App. In Facebook app click at profile section. Scroll then below to find Create Page option. In page manager app click at left side menu, scroll down to find new page option. Enter Name of Page as per Company Name or Brand Name and Follow the steps.
Step 1: Click at Create page option as shown in Image below:

 Step 2: Click at Get started option for proceeding to building page as shown in below image:

Step 3: Enter Page Name from which you want to start. Name may be Company Name, Brand Name or Any other related name.
Step 4: Choose Category for your page. Click at choose category option. 

 Step 5: Choose Category. Select as per need. Whether we are company, organisation, a brand or product or blog or website. What ever we are, we have to choose.

 Step 6: Choose Sub category as shown below:

 Step 7: Click at next to proceed

 Step 8: Add Company/Organisation or blog or any other related website if we have. If don’t have skip it.

 Step 9: Add profile picture. Generally logo. If don’t want, skip it

  Step 10: Add cover picture. Generally best from the images. If don’t want, skip it

Step 11: We will have Final Facebook Business Page
How to Run an Effective Ad Campaign at Facebook?

Facebook allow to advertise Page, Post and company website in Business Page. These can be handled by our Business Page. Business Page is boosted to get more likes and create brand awareness among facebook users. Page Post is boosted to get more visitors at particular article, product web page or service section etc. If our motive to get more visitors to our website then we can boost website to users to get more visitors to our website.

Facebook campaign could be fruitful if managed properly and could have been totally waste of money and time if not managed properly. Facebook has huge user base. These users belong to different interests, professions, regions, languages, society and cultures etc. All are not useful to us. One of the main reason of failure of Facebook ad Campaign is not targeting accurate audience. Visitors at our website that don’t have pharma interest or those don’t need any type of distribution or those don’t have qualities to become future customer are not of our interest. Like wise Page likes from persons who are not interested in our products or service or not related to our profession are not useful to us. We need only pharma professionals or who have interest in our products or service and has possibility to become our future customers.

Before promoting or starting advertising campaign at facebook, first we need to choose our audience type and who could be our future potential customers. If we are looking for pharma franchise distributors, we need to promote our page, website or post at targeting persons who could be our future franchise associates. Our target audience could be Medical Representatives and Other Pharma Sales Persons, Distributors/Stockists, Chemists/Pharmacies, Doctors, Doctor’s staff members, Hospitals, and other pharma professionals etc.

If we want to get most of from our facebook campaign then we need to target these communities only. Along with interest type promotion, we also need to set geography of campaign. Suppose we need parties or distributors from South India then we have to set location and geography of our campaign to get most of from lowest budget as possible. Until we set-up target audience base campaign, we can’t find benefits from Facebook advertisement. Without homework it will be waste of money.

For starting Facebook Advertisement Campaign, following step will be involved. Other then this Facebook also give boosting option frequently while we post, add website or scroll down to our feeds as showing in above two images.

Step 1: Visit at own Facebook Page. For example: www.facebook.com/pharmafranchisehelp
Step 2: Click at Promote. Promote option is available at Facebook Page as shown in above two image and below image:

Step 3: A pop-up showing How would you like to grow your business will open. Choose best option we want to start promotion. Click at promote your page to get more likes and engagements. Click at Get more people to contact to get click at call to action button which could be set-up according to individual need. Click at Get more website visitors to promote company/organisational website so people reach directly to company website by clicking at ad link.

Step 4: Change Ad Creative like Wording, Images, re positioning image etc.

Step 5: Audience Setting. Most crucial Step. Right audience selection can build a brand whereas wrong audience type can result in waste of time and money. Choose carefully audience section.

Step 6: Set-up budget and duration of your Ad. First we should start with lesser amount of money. Gradually we can increase money and duration also.

Step 7: Click at Promote Button. It will ask to add money, credit card and other options for paying for advertisement at Facebook. Add money or use credit card to pay to Facebook and Ad will be submitted for review. If Ad get approval then it will start to show in users news Feed.

Hope above information is helpful to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

Mail Social Media Powerful Marketing Tools are:

How to Hide Rates from Stockist in Pharma Franchise Marketing?

Query:

First of all Thank You Very Much for your website. I got much knowledgeable information about Pharmaceutical Franchise from it. 

Nowadays, I am working as a Pharma Marketing Professional since 2 years. But, I have planed for Pharmaceutical Franchise. As I haven’t Drug License, I will do it with appointing a Stockist/Distributor.
For this I have less knowledge in some scenarios. Like :

  1. I don’t want to disclose my Net Rate with Stockist/Distributor?
  2. I don’t wish to disclose Net Rate to my MR’s?
  3. After appointed a Stockist. Can I stock medicines in my own home?

Kindly resolve my issues/doubts as soon as possible.

Response:

  1. If you will purchase through appointing stockist/distributor then there is very very less chances you can hide rates from distributor. In one way you can hide rates from distributor/stockist if company invoice at stockist rate and that will not be possible by a company to do it at regular basis because how they will show increased profit margin. If any company will be ready to invoice at stockist rates then you can hide rates from distributor.
  2. You don’t need to show rates to MR’s. You can handle distributor by own. Don’t disclose any rates to MR’s.
  3. You can’t stock medicines at home. It is illegal to stock medicines at without licensed premises. Medicines can be stocked at licensed premises only…

Hope above information is helpful to you….

Click at below article link to read in detail about particular topic.

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

What is the Difference between Drug and Medicine?

Drug and Medicine are two similar words and can be used as synonyms for each other. Most of persons get confused while differentiating between these. Here we are going to find out the difference between Drug and Medicine:

Have look at definition for Both Drug and Medicine:

Drug: Drug is defined as the all chemical or natural substances capable of being used for therapeutic purposes. The expression Drug also includes narcotics, etc.


Medicine: Medicine is defined as drugs used for therapeutic purposes. All medicines are drugs but all drugs are not medicines.

Form definition of both word one thing is clear. For being a Medicine a substance should possessed the property of Drug. A substance has to fulfill Drug specification first to become a medicine. We will understand it with following example:

Suppose we have five substances named as X, Y, Z, A and B. These five substances have different properties. These substances may be natural, semi-synthetic or synthetic and/or chemical in nature. All substances have therapeutic properties for management of Pain, inflammation and Fever. In technical language these substances are Analgesic, Anti-inflammatory and Anti pyretic therapeutic action.

By Therapeutic action, one thing is clear, all four substances could be classified as Drug. Then what will be the criteria for a drug to become a medicine. Now elaborate other properties of substance X,Y,Z, A and B.

Along with above mentioned therapeutic effect, X is a Steroidal drug having potential side effects, due to which X is not using in treatment, cure and management of any disease.
Y is an Non steroidal Anti Inflammatory Drug (NSAID) which requires more trials and research to be launched into market.
Z is a drug substance claimed for Analgesic, Anti-inflammatory and Anti pyretic therapeutic action but scientific data or literature for supporting this claim is not available in any type of therapy.
A is a NSAID which is used for claimed indications by healthcare professionals.
B is a steroid drug which has serious side effects but any other substitute is not available and use for claimed indications by healthcare professionals.

Form above five which drugs fulfill the criteria to become a drug. Drugs which are still used for claimed indications by healthcare professionals. Now we got the point. X,Y,Z,A and B are drugs but only A and B are used for claimed indication for curing, treating and managing any particular disease and/or condition. So, A and B will be termed as Medicine also.

Hope above information is helpful to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

Related Articles:

Most Highest Profitable Business Opportunities in Pharmaceutical, Ayurvedic and Food Sector!

Most-Highest-Profitable-Business-Opportunities-in-Pharmaceutical-Ayurvedic-and-Food-Sector

Pharmaceutical Business is one of most profitable business throughout world. Main problem that is faced by most of person are from where to start, what are the legal and documentation formalities whether they are from pharma background or from any other background. Here we are going to prepare a list of businesses that are highest margin business in pharmaceutical business opportunities along with Ayurvedic and Food Sector:


1. Pharmaceutical Marketing/Distribution Company

Licenses and Legal Formalities:

How to Sell?

2. Pharmaceutical Manufacturing Company

Licenses and Legal Formalities:

How to Sell?

3. Carrying and Forwarding Agent (C&F)

Licenses and Legal Formalities:

How to Sell?

4. Wholesaler/Distributor/Stockist
Licenses and Legal Formalities:

How to Sell?

5. Pharmacy/Chemist/Druggist

Licenses and Legal Formalities:

How to Sell?

6. PCD Pharma and Pharma Franchise Marketing and Distribution

Licenses and Legal Formalities:

  • Wholesale Distribution Agency; or/and
  • Appoint a Wholesaler or Distributor

How to Sell?

  • Prescription Marketing
  • Generic Marketing
  • Pcd/Franchise Marketing
  • OTC Marketing
  • Institutional Sales (Hospitals, Tenders etc)
  • Export

7. Pharmaceutical Raw Material Supplier

Licenses and Legal Formalities:

  • Wholesale Bulk Drug License Number
  • Goods and Service Tax Identification Number
  • Shop Registration (if Applicable)

How to Sell?

  • Supply to Pharmaceutical Manufacturers
  • Institutional Sales

8. Pharmaceutical Raw Material Manufacturing

Licenses and Legal Formalities:

  • Company Registration
  • Bulk Drug Manufacturing License Number
  • Bulk Drug Wholesale License Number
  • Goods and Service Tax Identification Number

How to Sell?

  • Supply to Pharmaceutical Manufacturers
  • Raw Material Suppliers
  • Institutional Sales

 

9. Ayurvedic Marketing /Distribution Company
Licenses and Legal Formalities:

  • Company Registration
  • Goods and Service Tax Identification Number

How to Sell?

  • Prescription Marketing
  • Generic Marketing
  • Pcd/Franchise Marketing
  • OTC Marketing
  • Institutional Sales (Hospitals, Tenders etc)
  • Export
10. Ayurvedic Manufacturing CompanyLicenses and Legal Formalities:

How to Sell?

  • Direct Marketing ( Marketing type mentioned for marketing/Distribution company)
  • Third Party/Contract Manufacturing

11. Food and Dietary Supplements (Nutraceutical) marketing Company

Licenses and Legal Formalities:

How to Sell?

  • Prescription Marketing
  • Generic Marketing
  • Pcd/Franchise Marketing
  • OTC Marketing
  • Institutional Sales (Hospitals, Tenders etc)
  • Export
12. Food and Dietary Supplements (Nutraceutical) manufacturing CompanyLicenses and Legal Formalities:

How to Sell?

  • Direct Marketing ( Marketing type mentioned for marketing/Distribution company)
  • Third Party/Contract Manufacturing

13. Cosmetic Marketing/Distribution Company

Licenses and Legal Formalities:

  • Company Registration
  • Goods and Service Tax Identification Number

How to Sell?

  • Prescription Marketing
  • Generic Marketing
  • Pcd/Franchise Marketing
  • OTC Marketing
  • Institutional Sales (Hospitals, Tenders etc)
  • Export

14. Cosmetic Manufacturing Company

Licenses and Legal Formalities:

How to Sell?

  • Direct Marketing ( Marketing type mentioned for marketing/Distribution company)
  • Third Party/Contract Manufacturing

15. Printing and Packaging Material Manufacturer and Supplier

Licenses and Legal Formalities:

  • Company Registration
  • Any Legal Requirement for setting-up printing industry
  • Goods and Service Tax Identification Number

How to Sell?

16. Machinery/Equipment Manufacturer and Supplier
Licenses and Legal Formalities:

  • Company Registration
  • Any Legal Requirement for setting-up machinery or lab equipment industry
  • Goods and Service Tax Identification Number

How to Sell?

17. Consultancy and Legal Service FirmLicenses and Legal Formalities:

  • Firm Registration
  • Goods and Service Tax Identification Number
  • Legal Qualification (If required)

How to Sell?

  • Plant or/and New Company Set-up
  • Legal matter Consultancy
  • Placement and Man Power Provider
  • Marketing, advertisement and administration Support etc

18. Blogging and/or Industry Informational Website

Licenses and Legal Formalities:

How to Sell?

  • Write information articles, Videos, designs and/or News
  • Share through Social media, Website, Blog
  • Earn through Adsense or other online advertising tools
 
19. Pet/Glass Bottle, Cap Manufacturer and SupplierLicenses and Legal Formalities:

  • Company Registration
  • Any Legal Requirement for setting-up these industry
  • Goods and Service Tax Identification Number

How to Sell?

  • Supply bottle and caps to Manufacturing Companies
Hope above information is helpful to you…
For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

How to Calculate Net Rates?

Query:

 
I am Anoop Rawat calculating as per your formula. PTR and PTS example given below:
Product MRP 60/- Rs GST 18% Slab, 
GST 60*100/100+18=6000/118=50.84
PTR 50.84*100/100+20=5084/120=42.36 GST 18%=7.63
PTS 42.36*100/100+10=4236/110=38.50
This is PTS. Our Question is How to Calculate Net Rate because GST include Net Rate. I Know the net rate. Some body provide me. So help me How to calculate Net rates?

Response:

Calculating MRP, PTR and PTS you can check at our article: How to calculate MRP, PTS and PTR?

Net rates are calculated based upon the cost and profit margin at the product. Net rates calculation doesn’t depend at MRP of product but MRP calculation depend at Net rates.

Net Rates are calculated as per formula: Cost x %margin + %GST (If net rates are inclusive of GST).
If you are marketing company, Cost is calculated on the basis of Formula:
Cost= Third Party Rate + Transportation + Other Expenses + % Profit Margin

If you are manufacturer the Cost is calculated on the basis of Formula:
Cost = Manufacturing cost + Packing Material Cost + Taxes + Transportation + Promotion Material + Expenses.

After fixing the Net rates, you can fix MRP accordingly but after Fixing MRP, it’s very difficult to fix Net rates.

Read in Detail about: How to Calculate Maximum Retail Price?

Read in detail about How to calculate Net Rates, Profit margin?

Facts of GST that can Shock entire industry

Goods and Service Tax (GST) is not a simple word which is related to a Tax structure. It is beyond the tax structure. It is a Surgical Strike at Industry level. Everyone is talking about only tax structure or how it will applicable or how many returns is to be filled in a month. Actaully it is bigger and bigger than it. It is going to be a tough time for Fake sales Firms or business who do tax evasion.

Its a changing time and every chartered accountant and account professionals are busy to find out information about GST. Rumour market is on high level. Some news are true and some are false. It is not easy for anyone to clarify his wording about Goods and Service Tax (GST). Our account consultant is also not assure about what gst will bring with it. But he has few facts that are going to be shocking for market.

Related post: What is Goods and Service Tax (GST)? GST rates for Pharmaceutical/Ayurvedic/Nutraceutical Products
How to generate e-way bill under GST?

In GST, every firm and company is going to be submitted its all record. Record means generally Stock in hand, Credit in market, Debit in market, sale, purchase etc. If you are a good firm. File return regularly, pay actual tax and have stock matched with your books, then you don’t need to take any tension. If you don’t have loan, tax and stock ratio as per your books then you may be in trouble for next few months. Due to GST, businesses have started to give discounts to clear remaining stock.

Have a look, what could happen if we don’t have proper books maintenance. Suppose we have back credit limit of one crore but our books are showing stock of 20 lakh with 10 lakh credit in market. Total of 30 lakh investment proof, we have in hands. We file return regular with showing 10% profit every year. In that condition, how a business will justify remaining amount investment. If we show more stock then we have to show more purchase and that we will not available at that time. Where 70 lakh of business credit limit ( Loan) has gone. This would be the story of every small and micro scale industry. In India, It is major problem. Business money doesn’t get invested into business. That is invested either in property or in car or other things.That’s why 90% of small and macro scale businesses will face this type of problem. It will down credibility of business in eyes of bank when business will move for more investment by bank.

Another problem is opposite to it. Suppose we have started a business with 10 lakh investment by taking loan and show it in our initial books. Now we have 20 lakh stock and 10 lakh credit in market. We show similar 10% profit in our business and turnover of 40 lakh annually. In 4 lakh annual income. No further chances of investment in business after deducting personnel expenses.
We are doing business from last 4 years. How we will justify the investment.

These two problems is not so easy to face as it seems. Its going to be tough time for many companies in pharma sector as well as other sectors. It could be next demonetization. Demonetization at Tax.

What are making pharma business Harder and Tougher with Time?

We remember when we hear about DPCO (Drug Price Control Order) in 2013 for first time. That was time when pharmaceutical sector feels the heat of low margin. Before DPCO, HIgh MRP and High profit margins lucre other business professionals to enter into pharmaceutical sector. After DPCO, Pharma sector started to change. In initial stage 348 essential drugs had been taken under price control. After implementation, more and more drugs have been added in price slab.

DPCO is not single thing that makes pharma business less lucrative. DPCO Mrp is reasonable to earn good profit margin but many other factors that are making harder to start pharma business. Recently price control in American market put Indian Pharmaceutical Companies under pressure. India is second largest exporter of generic medicines to USA. Indian Pharmaceutical Companies enjoy high profit margins in regulated and developed countries that they can’t think to earn in India and other developing countries. This price and margin pressure may continue to other countries as well. Road a head to pharmaceutical companies is not easy and margin able.

Other Factors that becoming pharma business tougher and harder with time is as follow:

Competition: Pharmaceutical sector has one of the most competition sector. At daily basis more than 15 medical representatives visit to a single doctor for prescribing his company’s products. Numbers may be increase at some area’s. As companies pressure of building sale is increasing, sales professions start to convince doctors with any possible way, ethical or non ethical. This cut throat competition makes harder place in pharmaceutical market to open new business.

Strict rule and Regulations: With time, as a sector develops, rules and regulations start to become strict to compile with growth. Indian Pharmaceutical Market will be in top 3 by 2020 but Indian Pharmaceutical Market lacks standards which compiles with international standards. There is need of more regulations and standards to meet standards with respect to international norms. At regular basis, pharma sector is experiencing new rules and regulations. Recently announced regulations are E-portal, plant specification should compile with WHO-GMP standards,  compulsion of pharmacists at medical store, ethic codes for Doctors, new pricing authority etc.

Price Control Pressure Internationally: With increase of price control pressure internationally, Indian big pharmaceutical companies will increase their concentration at domestic market. This may benefit Indian internal pharmaceutical market but this will make situations more tougher and take competition at highest level.

Online Pharmacies: Online Pharmacies in Indian is not popular currently but it is building its presence and becoming popular in some parts. We can’t neglect power of internet in digital era. Online Pharmacies will affect our distribution system in pharmaceutical sector i.e. Retailers/Chemists, Wholesalers etc. Slowly but steadily online pharmacies are being accepted by patients. In long run it is going to be important part for selling pharmaceutical products.

Highly Invested: Last but not the least. Pharmaceutical business starting cost is increasing day by day. Investment is increasing whereas margin is declining. This makes pharma business tougher to start.

But still Pharmaceutical sector is lucrative one. People are enjoying doing business in this field and making money. For Persons having experience is pharmaceutical sector, starting business is easy as it were be.

Thanks for giving time to read it…

For any suggestion, query and correction, mail us at pharmafranchiseehelp@gmail.com

Related Articles:

How to Register A Company in India? 

Top Pharma Business Opportunities

How to Start Wholesale Business in Pharma?

How to Start Retail Business in Pharma?

How to start Pharma Company?

Doctors are allowed to write Brand Names. Misconception about New Generic Prescription Law?

Misconception about New Generic Prescription Law:

Recent speech of our Prime Minister rise a very controversial issue in respect of pharmaceutical sector and that is Generic Medicines. This is hot issue world wide. Every country leader whether it is USA or India, everyone is talking to implement generic medicines.

First we need to understand the difference between Branded and Generic medicines. Branded and Generic medicines are same in every aspects like dosage form, efficacy, potency, strength, purification, standards and other things. Only difference is at their marketing type.
In Indian Pharmaceutical market, If a medicine is sell through doctor’s prescription, it becomes branded medicine and if sell in open market without involvement of doctors, it become generic medicines. That’s the concept and difference that differentiate branded medicines from generic medicines in India. Otherwise we can’t differentiate between these two in India.

In western countries, patented molecule medicines are considered as Branded medicines where as medicines whose patents have been expired and all pharmaceutical manufacturers are allowed to manufacture this molecule. Products manufactured by manufacturers other than patented medicine manufacturers come under generic medicines. Indian market contains approximately 90% percent of medicines that come under generic medicines but promoted as branded medicines. So we use a new terminology for these and that is Branded Generics.

Now come to misconception and rumours have been separate across country in pharmaceutical sector. With notification of Heading ‘Use of Generic Names of Drugs’ with subtitle “Every physician should prescribe drugs with generic names legibly and preferably in capital letters and he/she shall ensure that there is a rational prescription and use of drugs

Romours are there, using brand name of medicines has been prohibited and doctors can only use generic names at prescriptions but reality is different. This notice only bound doctors to write generic names (in other sense, each molecule names present in medicine) but doesn’t prohibit or ban use of brand name/company name with it. Doctors will have two easy options:

  • Use of Brand Name then below it or in bracket use of generic name of each molecule present in it.
  • Use of Generic name first and after it or in bracket use of Brand name of molecule.

It means nothing is going to be changed, only prescription writing time for doctors has been increased. Better alternative to reduce prescription time is generate prescription through prescription softwares. That is only going to make some work loads of doctors.

Have a look at some merits and demerits of generic names writing at prescriptions:

Merits:

  • It will be easy to understand doctor’s prescription as generic name will be mentioned along with brand name.
  • In many cases, same brand name available for different compositions of different companies in India, it will prevent wrong product dispensing due to resemblance of brand names.
  • There may be increase in low MRP based competition as awareness about similar generic versions will increase. 
  • More generic medicines will be available and road for Pure Generic companies will be boasted.

Demerits:

  • Increase of Workload at Doctors whose already has lot work pressure at daily routine.
  • Importance of Brand name will fade as generic name will be written along with brand name.
  • Substitution of a particular brand with other brands will be increased.
  • Confusion among pharma companies and doctors will rise in aspect of writing generic name and brand name.
  • Pharma companies profit margin may fall down which may effect adversely at new innovations and researches.

Secrets behind using wholesale drug license and Pharma Company Name

Query:


I want to start a pharma marketing company(OPC). I had a wholesale drug license and a TIN. Please suggest me either the company name should be same as the name mentioned in the wholesale drugs license or any other name I can choose for the company. Hope your kind help will pave the way to proceed further. Anticipating your response. Thanks and regards

Response:

There could be both way, you can start by name as mention in drug license number and also by having other name but ethical way to start company is to start with name as mention at drug license number. You should discuss with concern drug authorities in your area before taking any step in this matter.
For more information, read below articles:

Importance of Marketed by address

Use of marketed by address at third party concept

Hope above information is helpful to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com

How to Start Pharma Business?

Query:
I m ——-, going to start my own business of medicine. Please give me details …
how to start it ? From where should i manufacture them ? 
How to do their marketing ? etc

Response:

If you want to start pharma business in India, you will require license and registartion for it. Read in detail about starting pharma business at our article: How to start Pharma Business in India?

If you can find the top business opportunities in Pharma Business at our article: pharma business opportunities in India

You can get manufactured your products at third party basis. read about third party manufacturing by clicking here

How you can market your products, you can read at our article: How to sell Medicines? marketing Types

Hope above information is useful to you…

For any query and suggestion, mail us at pharmafranchiseehelp@gmail.com