WHAT IS A PHARMA FRANCHISE?
It is an authorization of using brand name, proprietary knowledge, products, trademark etc.of a pharmaceutical company by an individual or a distributor. This authorization helps the franchisee to start their business using the name of franchisor he needs not to do marketing for the new brand name. Pharma franchise is also known as PCD which means the monopoly right given to the distributors by pharmaceutical companies to use their brand name in the particular area.
WHAT IS MONOPOLY RIGHT?
Monopoly means the single supplier of a particular commodity or product in any particular area.In PCD franchises Monopoly Agreement or Monopoly Right means that only a single person or entity at one location as mentioned in an agreement have the right to sell the medicines of a particular company. Before getting the PCD franchises confirm first that if that particular area for that particular company is vacant or do the already have provided monopoly right to some other person of that particular area. Monopoly agreement is the important part of the deal while. So it is suggested to get the written agreement from the company you are making deal with. This will provide the security of your business.
DRUG LICENSE, (DL NO.
Drug License Is the document which is required to do the business in pharm. Drug license is issued by the central drugs standard control organization and state drugs standard control organization of India.
Normally two types of DL are being issued by the drug control organizations one is retail Drug License and other is wholesale drug license. Retail DL is issued to a person who sells the medicines on retail bases such as a person who runs a chemist shop. Wholesale DL is issued to that person who wants to sell drugs on wholesale level. Sometimes retail DL may be issued to a person who possesses the degree or diploma in Pharma from the recognized university.
PROMOTIONAL MATERIAL
Promotional materials are used in every day sales by the medical representatives. They are the main marketing tools provided by company to the franchises free of cost to promote the products. Promotional materials are the most proven marketing strategies. Some Pharmaceutical companies provide promotional material free of cost to their associates so that they can enjoy a powerful brand and professional image in the market.Pharma companies offer various promotional materials to support their franchise, such promotional inputs include following main items.
WHAT IS GMP?
GMP stands for Good Manufacturing Practices. There are certain quality standards set in GMP the production unit having the GMP certification, has to follow the guidelines set by GMP while manufacturing. GMP is a system that ensures the product is constantly produced and controlled according to the quality standards. GMP covers all the aspects of production from starting material to the hygienic staff. Every time products are made the correct procedure must be followed at each step.
WHAT IS WHO?
WHO stands for World Health Organization. It is a specialized agency of the United Nations that is concerned with international public health. Like GMP in WHO there are also some set quality standards which the manufacturing unit has to maintain while manufacturing the products. The quality standards of WHO are stricter than GMP. WHO system ensures that products are produced and controlled according to the set guidelines.