10 Things Every Pharma Professional Should Know

1. What is Drug License?

A Drug License is a license issued by Drug Control Authority for conducting a particular task for example sale, purchase, stock, manufacture, distribute, import, export or any other covered under Drug and Cosmetic Act and Rules, 1945.

2. What is Drug License Number?

Every Drug License has a unique number which is used to maintain all record related to the holder and his firm. This number is known as Drug License Number.

3. Licenses Required to Start a Pharmaceutical Marketing Company?

• Drug License Number
• Goods & Service Tax Identification Number(GSTIN)
• Company Registration (Optional)
• Trademark registration (Optional)
• FSSAI Registration (If dealing in food supplements)

4. Licenses Required to Start Pharmaceutical Manufacturing Company?

• Drug Manufacturing License Number
• Wholesale Drug License Number
• Goods & Service Tax Identification Number(GSTIN)
• Company Registration
• Trademark registration

5. How to register a brand in pharma?

The pharmaceutical sector also has to follow the procedure to register its brand name like other sectors. Go to the website ipindia.nic.in and follow the process.

6. What is Pharmaceutical Trading?

Sale and purchase of pharmaceutical products and services are known as pharmaceutical trading. For pharmaceutical trading, you should have licenses. Doing this without any formalities is a punishable crime. Pharmaceutical traders include chemist, distributors, marketing companies, raw material supplier, etc.

7. What is Pharma Purchase and Pharma Sale?

Purchasing of pharmaceutical products or services from authorized pharmaceutical trader or manufacturer is known as pharma purchase and selling of pharmaceutical products or services to authorized pharma trader or manufacturer is known as Pharmaceutical sale.

8. What does Franchise mean in Pharma or what is Pharmaceutical Franchise?

Franchise in pharma means authorization by a pharmaceutical company to distributor or person or group of distributors to access or use its company name, brand name, products, services, etc.

9. How to calculate PTR and PTS?

In Pharma marketing, we have to calculate the number of things to provide rates and margin to the retailer, stockist, etc. To calculate PTR and PTS, please use the PTR and PTS calculator developed by Vibcare Pharma. You can find the calculator link below.

PTR & PTR Calculator

10. How much profit margins in Pharma?

Retailer margin is generally 20% or some time with the scheme. Stockist margin is 10% or some time with the scheme. C&f margin is 6-8% or sometimes with the scheme. Discussed margins may vary company to company, products to products or area to area, etc.