Wondering whether you should enter the pharma industry? As someone who doesn’t have any prior knowledge or experience, terms like “ethical, PCD, and generic” can sound confusing. Learning the difference is important so you can better understand which sector would be the best fit for you. Moreover, these sectors vary greatly in terms of investments, required experience, and more. So let’s take a look at the three different sectors in the pharma industry so you can pick the one that speaks out to you. What Is the PCD Model? PCD stands for Propaganda Cum Distribution. This business model is perfect for those who:
You may be familiar with franchise models through fast food joints. Similar to getting a McDonald’s franchise, you can get it from a PCD pharma company. This means that you do not have to manufacture, but simply sell the company’s products. So, why is the investment requirement low? Investments Required
This all should come up to less than 50,000 INR. The stock in itself, would be worth 10,000-15,000 INR when sourced from Vivaceutical, one of the best PCD pharma companies in India. They also provide monopoly rights. Monopoly rights mean that you would be the sole seller of their products in your area of choice. As a result, no one can steal your customers even when you are not present at the store. What Is the Generic Medicine Model?This model involves pharma companies selling generic medicines directly to the retailers through a distribution channel. Sellers can approach the company through Sales representatives. Generic products often sell just as much as branded ones, it's just that consumers are not that aware of them. Usually what happens if a doctor will prescribe a specific brand to their patients and they will just go buy that. Generic medicine costs less than branded ones, and can perform better in economically weak areas. Although the medicine compositions are the same, their manufacturing processes may differ from brand name medication. In urban areas, you would require 3-4 lakh rupees to start selling generic medicine. Plus, you wouldn’t get any advice or help with sales and marketing. You would also have to make your own connections in the healthcare sector. This model is suitable for those who have a good amount of money to invest. What Is the Ethical Sector? Ethical pharma is the most popular yet conventional sector in the pharmaceutical market. You can find all kinds of medicinal drugs here through medical representatives. The ethical PCD business deals with doctors, not customers. So, if you were to enter this sector, it would require strong sales skills as it is necessary to convince doctors about the benefits of new products, which are launched in the market. Moreover, ethical products can only be purchased through prescription. So, Which Sector Is the Best For You?If you are someone who wishes to enter the pharma industry with very little to no knowledge on the subject, you would require assistance throughout getting started. In such a case, it would be best to start a PCD franchise. They have high potential for profit and require low investment.
On the other hand, the generic model is better for those who can invest a significant amount. The ethical sector is not suitable for those without extensive knowledge on the subject and ability to invest high capital. Visit us:
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