Third Party Manufacturing in Pharma is Easy
Let’s understand first what does it mean by third party manufacturing in pharma. Third party or contract manufacturing is referred to the outsourcing of pharmaceutical products or to get products manufactured from others manufacturing units with your own brand names. In the current time, it is a very popular strategy among all the marketing companies. Even, pharma companies having their own manufacturing plants are gotten manufactured their pharma products from other manufacturers. Multinational companies are also preferring this concept to manufacture their products. It comes with lots of benefits. Learn the benefits of third party pharmaceutical manufacturing if you’re not aware.
It is an easy way to start a pharma company in India. This strategy provides an easy solution for manufacturing pharma products of your own brands.
1. MAKE LIST OF DESIRED PRODUCTS AND REQUEST FOR RATES
Pen down your desired products which you wish to be manufactured by a third-party manufacturer. Make a list of potential manufacturers, you can find their details through online research, referral, etc.
Send them an email or call them to request for their quotation which should include Product Cost, securities, the minimum quantity of delivery schedule, etc.
2. FINALIZE YOUR ORDER QUANTITY AND PRODUCT COMPOSITION
Now, finalize the order quantity of the selected product and write down your desired product composition.
Few things to keep in mind: Minimum order quantity can be 500 boxes
For Injections – 2000 Units
For syrup – 2500 Bottles
3. PLACING THE ORDER
After finalizing product composition and order quantities, you should place a purchase order to the selected third-party manufacturer. You should also request the manufacturer to confirm your products. After confirmation, the partial advance amount should be deposited to initiate the process.
4. FINALIZE ARTWORK
While finalizing the Artwork, you should check points listed below:
– Your Brand Name on carton & foil
– Packing details, Composition, Manufacturing details
– Design & Color combination
– Marketed By company name, logo & address on carton & foil
5. SUBMISSION OF REQUIRED DOCUMENTS
– Company profile
– Director’s documents (Aadhar Card and Pan Card)
– Drug Licenses
– Sales Tax/TIN Registration Certificates
– Manufacturing Agreement
– Certificate for Non-resemblance
6. PRODUCTS DELIVERY
After the products are manufactured, you will receive a quotation from the manufacturer mentioning the details of the product and the remaining amount which has to be deposited. Your manufactured products will then be despatched through your preferred transporter after submission of documents & clearance of accounts.
Your Product is now ready for sale. Happy Selling!