PharmaHopers (Pharma Franchise Portal) Explains the Indian Future of Pharma Franchise & PCD Pharma Business in 2019
/ -- The Drugs Technical Advisory Board (DTAB), back in May, showed a green flag to the proposal for amending the Drugs & Cosmetics Act. This is to make pharmaceutical marketing firms liable for any negligence in the regulations; earlier the company marketing substandard medicines were not held accountable for making patient consume low-quality medicines in India. This has definitely put pressure on the Pharma Marketing Companies to go for the reliable and trusted third party pharma manufacturing companies which would follow all quality standards and regulation by FDA and other authorities.
Many times, big pharmaceutical companies get their medicines manufactured by smaller companies. Today, if something (a violation) happens (Product quality), only the manufacturer can be held responsible, Now, legal action will be taken against both (the manufacturer and marketing company).
This amendment has lately made pharma professionals reconsider what to expect from third party Pharma Manufacturing company. Third party manufacturing has shown tangent growth of late in the majority of medicine production as it cuts down a good amount of cost and benefits the bigger pharma companies.
There are numbers of third party Pharma Manufacturing Companies out there in the market which practice quality manufacturing for medicine and follow norms. All one has to do is choose the right company in order to stay away from any sort of illegal trouble. Whereas, the third party Pharma Manufacturing Companies need to upgrade to best manufacturing standards.
Indian Pharmaceutical industry has gained prominence since the 1970s but back then, not much attention was given on the manufacturing standards. Now after 48 years, the scenario is completely different. 9 percent of pharma market is oriented, 70 percent is generic, and remaining 21 percent is over-the-counter (OTC). In order to stay ahead in this highly completive business sector, company has to put its best foot forward.
Why Pharma Companies go for third party Pharma Manufacturing?
Third party pharma manufacturing is hassle-free which attracts most pharma marketing companies. There are approximately 250 large units and about 8,000 small scale units, which form the core of the pharmaceutical industry in India including 5 Central Public sector units and these companies go for the third party pharma manufacturing services because of the following reasons:
Cost-effective Manufacturing Pharma Companies get time to work on the expansion Variety of Medicine to market in Industry Third party Pharma Manufacturing Companies should pay good attention to the quality of medicine at every level of manufacturing. It is companies' responsibility to use high-quality ingredients, chemicals for the formulations.
Experts at PharmaHopers have only tips for the pharma marketing company i.e. 'Choose right third party Pharma Manufacturing company which is approved by authorities and follows the norm. One should definitely go an extra mile to find our genuine company which could provide best third party pharma manufacturing services at present'.
Today, Pharma Companies are looking for innovative cost-effective ways to produce drugs and third party manufacturing is one among them. PharmaHopers is one of the most trusted and reliable B2B (Business to Business) portal which has third party pharma manufacturing companies from all across the country. In this evolving world of medicine, the future of third-party pharma manufacturing is constantly improving and PharmaHopers play a key role in keeping up with the evolving future of third-party Pharma manufacturing in India.
PharmaHopers is an ambitious and dignified PCD Pharma Franchise Companies business portal, with the vision of connecting pharma professionals with the best pharma companies, working with prestigious clients and companies across India. It is one place which provides one stop solution for importers, exporters, manufacturers, traders, services providers, distributors, wholesalers, and governmental agencies to promote and find pharma opportunities online.
With Vision 2020, PharmaHopers is working towards finding a spot in the World's Top 5 B2B Pharma Marketplace exclusively for the Healthcare Industry. This business portal currently has more than 500+ pharma companies registered with their own or third party manufacturing facilities with over 50,000+ poducts ranging in all categories like Pharma Tablets, Capsules, Injections, Syrups, Powders, Oinments, etc.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)