The pharma business in India ranks third in the world IN terms of volume and 14 in terms of valuation. The revenue of the Indian pharmaceutical sector is expected to reach $55 billion in 2020 from $29.61 dollars in the year 2017.
But when it comes to PCD pharma companies are a little different as exact guidelines are not available on the internet about their credibility or about their reputation. There are some reputed lists which shows a few names as the pharma franchise company but they charge the companies lakhs of rupees to put their name on the list and without conducting a thorough check of the companies. So be very careful while choosing a PCD pharma franchise.
PCD Pharma Franchise Model:
Propaganda cum business model is a model where the pharmaceutical company manufacturing the drugs signs up agreements with distributors. That distributor becomes the monopoly pharma company in that particular territory. With the exclusive rights of selling its products IN your region there is no one to compete for the same brand. This is the reason why the pharma franchise companies are gaining so much popularity these days.
Generic Sector in India
There is also the generic sector, where the pharma companies sell generic medicines to the wholesalers and retailers via the distribution channel. Sales representatives to represent the process.
The quality, performance, and the use of generics drugs is similar to the branded drugs with no difference in the route of administration as well.
The cost of these medicines is significantly lower than the branded drugs. That is the reason they are more easily accessible by the economically weaker sections of society.
The products are different in appearance and packaging and at times also differ a little in the formulation. Going with the recent trends there is a wide scope for generic medicines in India.
Best pharma Franchise Company must use the PCD model for better business.
Ethical pharma sector:
Then there is the ethical pharma sector where the marketing is done by the medical representatives. They promote the products to convince the physicians, retailers and medical professionals.
The success in this field depends on the medical representatives, the brand ambassadors. They should have excellent communication skills and convincing power. This is the oldest business model which is found to be quiet useful. Top pharma Franchise Company follow this process.
With all the model’s lets now see the risk of starting a pharma franchise company.
- Not choosing the right pharma company- the most significant risk factor. Lack of research might lead you to a company which ain’t good dealing in the fraudulent business.
- Having compatibility issues- the pharma sector is a complex one and it’s not so easy as it looks. Before launching you should be convinced about your capabilities of your team.
- Market conditions – as a pharma franchise company it’s very critical you understand the customer needs, failing to make the right balance might cause you a high probability of facing hardship in profit making.
- As the pharma franchise company, you must be aware of the flow of money. This business is just not a one-time investment but requires continuous cash flow. Pcd pharma distributors can help to flow the cash.
Looking at the above article we see the challenges and threats about starting out with the pharma franchise companies. Rednirus Supliers is one of the best PCD Pharma franchise companies portal out there which helps to grow your business with quality products and be the next business leader in the pharma business.