The Indian pharma industry is flourishing and has made tremendous growth in past decades. However, the main reason behind the flourishing of the pharma industry is the business models of pharma, PCD pharma franchise, and third party manufacturing. It's crucial to understand the difference between these two business models of pharma.
Understand the definition of PCD Pharma Franchise
The PCD pharma franchise, a pharma company that is established and reputed in the pharmaceutical market gives its selling marketing and distribution rights to another company with its brand name and logo. The franchisor also offers exclusive territory rights to the franchisee to avoid competition in their geographical area.
Characteristics of PCD Pharma Franchise Company in India
PCD pharma franchise company in India have numerous characteristics, these characteristics are mentioned below:
Exclusive Territory Rights
The franchisor gives a right to franchisees for selling their products with their brand name and logo in a particular geographical area, it assists the franchisee to sell the products without facing any competition in that area.
Lesser investment
Investing in a PCD pharma franchise company in India one should need less investment as compared to buying an independent business, as a franchise is already established and existing business in markets and handled by franchisors.
Training support
The franchisor wants to increase their marketing networks that’s why they will always provide training and marketing support to their franchisees throughout the investment period.
Understand the definition of third party manufacturing.
In Third-Party Pharma Manufacturing a pharmaceutical company contracts with for manufacturing their pharmaceuticals with their brand name and logo. These companies are specially built to manufacture products for pharma companies. They have better experience in handling manufacturing responsibilities and provide quality-assured products, ensuring timely delivery of goods.
Characteristics of third party Manufacturing
Third party manufacturing has numerous characteristics, these characteristics are mentioned below:
Cost-Effective
Pharmaceutical companies can save their capital investment by not building their manufacturing plant and resources needed for manufacturing pharmaceuticals but they can directly contract with third-party manufacturers to manage these responsibilities and resources.
Quality controls
Manufacturing firms are experienced specialists in manufacturing pharma products they test their all products through sample testing and other methods of testing throughout the manufacturing process. Moreover, these companies' quality standards are regulated by WHO-GMP and ISO 9001:2015 certified.
Specialization
Third party manufacturers have specialization in the field of manufacturing, they have their own manufacturing plants, resources, and modern technology to boost the production process.
The above-mentioned information will assist the masses to clear the difference between the two biggest business models of pharma. However, to get a franchise or outsource your pharmaceutical order to the best pharmaceutical company in India, give us a call at +918900000092.
