As the demand for healthcare facilities and medicines has globally increased, several young aspirants are looking to make a career in the pharma industry. It is one of the rising sectors in the whole country that provides good opportunities (more…)
A pharma PCD franchise company has a very important role to play in the pharmaceutical industry in India. This type of company offers exclusive business rights to the distributors to get hold of a market and to establish an efficient supply chain. To ensure such business prospects, the company has important functions to perform.
Functionalities of a PCD pharma franchise company
The company will have to have a state-of-the-art manufacturing unit. It must have GMP certification and other approvals from the respective pharmaceutical regulatory bodies. It must have a valid license and should practice the standard industry protocols to manufacture medicines.
A PCD franchise company must have a proper legal presence in the registry of the Indian Government. It must have WHO certification too to ensure validation of the products manufactured on the premises!
Role of PCD pharma franchise companies
The impressive growth rate of the pharmaceutical industry in India is partly due to the presence of these efficient business plans offered by the franchise companies. The development of a proficient supply chain solely depends on how a pharma franchise company works. Its capability of manufacturing products, executing orders, and maintaining the demand-supply balance decide the future of the Indian market.
Due to the heavy popularity of this flexible business idea, many enthusiasts also take up this plan and establish their businesses making medicines available for the population.
Importance of PCD pharma franchise companies
As you can understand, a PCD franchise company is a strong entity that decides the fate of the pharmaceutical industry in India. The increasing demand for medicines in the healthcare industry can only be met when such business plans are executed by these companies.
In a nutshell, PCD pharma franchise companies have become a backbone for this industry offering remarkable business plans to establish in a target market!
Indian Pharma companies received 372 approvals to launch generic drugs in the US fiscal 2019, up 8.6% from 340 in the previous year. The development comes even as India got 15 warning letters in calendar 2018, lower than the US with 19, and China which topped the list with 24 warning letters. As against this, India had the ignominious distinction of topping the list with 9 warning letters in 2015 and has since appeared to have cleaned up this act.
In terms of approvals, Zydus Cadila topped the list with 60, with Indian companies cornering nearly 40% volume share in highly remunerative $60-billion-plus US generic market- a key driver of growth for the domestic industry. In an indication of having resolved data integrity issues by investing in skill sets, domestic companies grabbed the opportunity by the US Food and Drug Administration (USFDA) to speed up the generic competition.
Indian generic filings have been rising year-on-year, unfazed by regulatory pressure from the USFDA, and a spate of warning letters issued to their facilities over the last couple of years. Over 2015-17, Indian companies have faced intense regulatory glare from the US, with nearly all top companies having been issued warning letters over manufacturing violations at their plants. This seems to have changed last year with fewer warning letters for Indian companies, compared to other major countries.
However, in 2018 India received fewer warning letters compared to the other nations.