PHARMA FRANCHISE ON MONOPOLY BASIS
Pharma Franchise involves monopoly rights which are given to franchisee by the pharmaceutical company. Pharma Franchise on monopoly basis is key to this business. Pharma Franchise business cannot be run effectively without monopoly rights. Monopoly rights give freedom to its franchisee to expand his business in the designated area, without the apprehensions of infiltration or interference by any co-franchisee. By signing few papers the PCD Pharma company and the franchisee mutually agree to support each other.
Steps in the Pharma franchise on monopoly basis business :
1. Manufacturing of Pharmaceutical Products: First of all, Pharma products are manufactured in Manufacturing Units which are certified with WHO-GMP, ISO 9001: 2008, ISO and / or 14001:2004 certificates. The sourcing of APIs and Expedients, manufacturing the products according to relevant guidelines (IP/ BP/ JP/ USP), QC and retention of samples during the life-time of that products are all responsibilities of the manufacturing plant. There are whole set of detailed guidelines which are followed for each of these steps.
2. Packaging of Pharmaceutical Products: After manufacturing comes Packaging. Packaging is important for protection, presentation and promotion of Pharmaceutical products. Type of packing depends upon the guidelines contained in the relevant Pharmacopeia(s) The examples of strip packaging for tablets are blister/ Alu-alu/ Poly-strip pack. If Packaging is presentable and attractive, then promotion can be done easily, which is also very important in Pharma Franchise business. Sometimes some compromise on packaging is done to make the products affordable (provided guidelines allow so) . But this compromise should be limited only to Packaging and not to manufacturing.
3. Ready products to PCD Pharma company : PCD Pharma company in Chandigarh takes its delivery from Manufacturing plants, which may or may not be owned by the same management. Manufacturing plant delivers finished products to Pharma franchise company/ PCD Pharma company and they store these products.
4. Distributors are appointed: PCD Pharma Franchise company gives Pharma Franchise of its products to its distributers on monopoly basis for allotted areas. Distributors give requisition of Pharma Products to the Pharma Franchise company and it delivers the products to distributors.
5. Distributors appoint MRs : Distributors further appoint MRs to reach medical practitioners of their area. Here MRs role is very important as prescription generation depends upon his work only. And this whole business depends on prescription generation.
6. Prescription is done: Then medical practitioner prescribes medicines to patients. Here quality of products matters a lot. If patient and the medical practitioners is happy with the medicine’s result, then only the medical practitioners will continue to prescribe that medicine.
7. Medicine is made available at Retail chemist shops : Then it is the major responsibility of Distributors to make the medicine available in medical stores.
Better the efficacy, bigger the Pharma Franchise business
So we can conclude that success of Pharma Franchise business depends on many factors. But product’s efficacy and work of MR are key factors.