TYPES OF PHARMACEUTICAL COMPANIES IN INDIA
Pharma business is a multifaceted business related to drugs, medicines, surgical goods, medical devices, and other healthcare services. Pharma business includes manufacturing, distribution, marketing, retailing and dispensing, and so on.
When you want to launch the pharma business, it is essential to know about various sub-categories of the pharma business. This blog explains it in detail types of pharmaceutical business in India.
- PHARMA MANUFACTURING
Pharma manufacturing business includes the production process of drugs. Along with that, a manufacturing unit has to carry out marketing, altering, and finishing of goods.
Ornamenting, packing, and labeling of drugs are also part of pharma manufacturing activity.
It involves a detailed process to launch a manufacturing unit.
- PHARMA MARKETING
There are two ways you can start the pharma marketing business- launch a marketing company or start a pharma franchise distribution company.
Both business streams are profitable and attractive. It depends on your liking and interest.
- PHARMA DISTRIBUTION
Pharma distribution model has various sub-categories such as
- C&F (Carry and Forward)
It is a business where you act as a link between the pharma company and the pharmacy store.
This stream is the most preferred one because it is equally suitable for startup companies and established pharma companies.
- PHARMA RETAIL
Pharma retail business includes opening an outlet such as a pharmacy shop, a chemist shop, medical and drug store, and so on.
Nowadays, E-pharmacy stores are also popular. It also falls under the category of pharma retail business.
- API BUSINESS
What are bulk drugs? They are the ingredients that bring the medicinal effect of drugs. To distribute bulk drugs, you need a wholesale drug license.
It is a profitable business, but it requires infrastructural support and human resources.
- MEDICAL DEVICES
Medical devices and in-vitro diagnostics include a wide variety of items that include a cardiac stent, drug-eluting stents, intraocular lenses, catheters, IV cannulae, heart valves, scalp vein and a wide range of other items.
With the increasing demand for medical facilities, the demand for medical devices also shows an increasing trend.
- SURGICAL PRODUCTS
Surgical products are used in surgeries and related work. To manufacture these products, you need a manufacturing license from the drug department.
To carry out distribution, you need a wholesale drug license number.
- COSMETIC PRODUCTS
People are more conscious about appearance and beauty nowadays. Hence, they do not mind spending on cosmetic products.
There are regulations and norms about manufacturing cosmetic products. Hence, one has to be careful about it.
- FOOD AND DIETARY SUPPLEMENTS
These products are not medicines but help in keeping good health. There is a big demand for food and dietary supplements today.