India is one of the largest contributors to generic drugs across the world. The pharmaceutical sector of India delivers more than 40% of the generic requirement in the USA, over 50% of vaccines required globally, and around 25% of medicine demand in the UK.
India is third in terms of pharmaceutical manufacturing volumes and 14th worldwide in terms of value. The Indian pharmaceutical industry consists of around 10500 manufacturing units and 3,000 drug companies. Pharma companies and franchises play a vital role in India’s healthcare sector.
To fulfill the growing demand for new medications for conditions like hypertension, diabetes, cardiovascular health, and so on, pharma franchise companies in India manufacture unique medicines or goods.
For years, Indian medicine franchise companies have played a pivotal role in handling the healthcare sector. The main difference between the pharma companies and the PCD pharma franchise is the company or unit size.
Pharma companies create different formulations like parenteral formulations, Oncological formulations, modified release formulations, topical medicines, novel drug formulations, oral drugs, etc.
Tesni Pharmaceuticals is one such pharma franchise company in India that focuses on all such factors.
Types of Pharmaceutical Companies
Pharmaceutical companies work in several ways to create innovative medicines and treatments. Multidimensional pharma business is related to surgical goods, drugs, medicines, medical devices, and other healthcare-related products. It also includes the production, marketing, distribution, and retailing aspects of the business.
The following are the major types of pharmaceutical companies in India:
- Brand Developers
- Generic Competition
- Research and Development
- Pharma Manufacturing
- Pharma Marketing
- Pharma Distribution
- Pharma Retail
Brand Developers
In the healthcare industry, there are various types of businesses. Brand developers and pharmaceutical companies are similar to big brands like Merck and Pfizer.
Along with these big companies, there are other less-known smaller companies in the market as well.
Companies like Pfizer also carry out drug production and research & development. Such big companies are divided further into many other departments, and each of these departments deals with a particular medicine or disease.
Brand companies have made significant investments in the search for the next breakthrough medication. Such companies continue to find new ways to promote their newly developed drug and seek patents to protect their investment.
There is no guarantee that medicine in which a company has invested heavily will be a success. According to reports, only two out of every ten drugs succeed in making their mark in the world of medicine and generating revenue for the brand.
Generic Competition
There are other companies in the medication manufacturing business that produce a generic version of the brand-name drug after it has gone off-patent.
Generic medicines are inexpensive, as they do not include the high costs associated with research and development.
The product’s manufacturers later sign contracts with brand organizations or Big Pharma such as Pfizer and Merck to produce low-cost generic versions of the original products.
This is how a brand will continue to promote its products via generic alternatives.
Some examples of Generic companies that sell products at inexpensive rates are Abbott Laboratories and Actavis PLC.
Research and Development
The pharmaceutical industry relies heavily on research and development. It plays a vital role in all the categories of pharmaceutical companies.
One of the main purposes of research and development is to conduct trials to study and analyze the characteristics of the medicine for a particular disease.
Such types of pharmaceutical companies provide important analysis and feedback for the brand or the generic pharma industry.
Pharma Manufacturing
Pharma manufacturing companies primarily entail drug production. Along with manufacturing the pharma manufacturing unit focuses on packaging, labeling, and marketing of pharmaceutical products.
Pharma Marketing
Apart from launching your own marketing company, one of the popular ways to do pharma marketing is to own a pharma franchise distribution unit. Both are lucrative and profitable businesses, but it all depends on your preferences. The Pharma franchise has great marketing support from the parent pharma company.
Pharma Distribution
Pharma distribution companies have several sub-categories like stockist, wholesaler, distributor, and sub-stockist. In this line of business, PCD pharma distributor is a crucial connection between the retail pharma store and the manufacturing pharma company in India.
Pharma Retail
The pharma retail portfolio includes a wide range of categories such as chemist shops, pharmacy shops, medical and drug stores, retail stores exclusively for medical devices, retail stores for surgical products, cosmetic products, dietary supplements, etc.
In recent times, when everything has gone online, the pharma retail business is trending as well. E-pharmacy is catching up and doing well.
Conclusion:
If you are keen to start with your own PCD pharma company, look no further. Get in touch with Tesni Pharmaceuticals, a leading PCD pharma company in India. Contact us on 9824382041 or email us at tesnipharmaceuticals@gmail.com
Also Read: Top 10 Pharma Franchise company in India