What are the Various Types of Pharmaceutical Companies in India?
Pharmaceutical companies are a multifaceted business dealing in drugs and medicines, medical devices, surgical equipment, and everything else related to healthcare services. The business includes discoveries, development, manufacturing, distribution, marketing, retailing, dispending, and much more.
Drugs are crucial for healthcare and disease control and treatment. Drug development involves various processes. Depending on the activities of the plant, there are many types of pharma companies and pharma franchises.
About Pharmaceutical Companies In India
Different wings of pharma franchises and companies have a distinct role in the country’s healthcare sector. As diseases are on the rise, there is a steady demand for new research and better formulation of medicines. Pharma franchise company in India develops and manufactures innovative solutions to combat the increasing demand for new medicines for diseases of cardiovascular health, diabetes, hypertension, and others.
Drugs can not only control these conditions but also prevent and even cure different diseases.
For several years, Indian medicine franchise companiesplayed a key role in handling diseases. The only difference that sets pharmaceutical companies apart is the source of raw materials followed by processing and development. Thereafter, companies handle the formation as well as the marketing of drugs.
Another unique way of distinguishing PCD pharma franchises from regular companies is the size of its unit.
Pharmaceutical companies make different formulations like oral drugs, topical medicines, parenteral formulations, modified release formulations, novel drug formulations, oncological formulations, and others. In addition, these formulations use various active substances, additives, and fillers.
Types of Pharmaceutical Companies
Some of the broad categories of pharmaceutical companies are:
- Brand Developers: These are giant healthcare companies like Pfizer. These companies have different departments, each dealing with a particular medicine or disease. Brand developers are of three types:
- Formulation manufacturers
- API manufacturers
- Contract manufacturing organizations (CMO)
- Generic Competition: Several pharma companies produce generic versions of a particular branded drug. Generic medicines are available in the market at lower rates, though the products do not pass the high costs of R&D.
- Research & Development: R&D is a vital part of medication manufacturing. It plays a significant role in small as well as large companies. The purpose of R&D is to perform trials to detect the characteristics of diseases. Without this crucial step. It would be impossible to identify and cure disease.
- Others: Other companies in this business cater to different business objectives like chemical production, compound production, etc. There are biological product businesses that produce serums and vaccines
Now for the key categories of pharmaceutical companies:
- Pharma Manufacturing: Pharma manufacturing is a business that includes a drug production process. In addition, the manufacturing unit also carries out marketing, changing, and finishing of drugs.
Ornamentation, packing, as well as drug labeling, is also a part of the pharma manufacturing unit.
- Pharma Marketing: There are two ways to start pharma marketing – either by launching a pharma marketing company or by introducing a pharma franchise distribution unit. Both these streams of business are attractive and profitable.
- Pharma Distribution: There are many sub-categories of pharma distribution such as wholesaler, stockiest, sub-stockiest, carry and forward (C&F), and distributor. In this business, the PCD pharma distributor acts as the link between pharma companies and pharma stores. It is the most preferred stream because it is suitable for startups as well as established businesses.
- Pharma Retail: Pharma retail includes outlets like pharmacy shops, chemist shops, drug and medical stores, and others. Today, e-pharmacy is also a popular concept. It is a category of retail business.
Other categories include medical devices, API business, surgical products, cosmetic products, and dietary supplements. A pharma franchise company mainly acts as the link, whereas the departments are largely responsible for respective roles.