Pharmaceutical Marketing Company Registration

Elements of Pharmaceutical Marketing Company

Online Legal India LogoBy Online Legal India Published On 26 Sep 2022 Category Business Plan

A drug license generally acts as authorisation given by a government agency that permits companies to conduct operations connected to pharmaceuticals and cosmetics. No one is allowed to run a business that deals in pharmaceuticals or medicines without a certificate proving they have a valid drug license.

The 1940 Medications and Cosmetics Act covers all drugs and cosmetics, including Ayurveda, allopathic, homoeopathic, & Unani formulations. Such drug licensing regulations assist the government in regulating and upholding the standard of medicines marketed in India. This article will examine the application process for drug licenses and the significance of such a license in India.

Benefits of Acquiring a Pharmaceutical Company Registration

The benefits of acquiring a pharmaceutical company registration are as follows:-

  • Businesses are required to submit this kind of pharmaceutical company registration application since it is against the law to manufacture or sell medications in India without one.
  • Having such a medication license gives your company credibility and trustworthiness and aids the government in monitoring & regulating the sale of medicines in India.
  • A pharmaceutical license certificate demonstrates to your customers that you adhere to strict quality controls while producing pharmaceuticals.
  • Customers are reassured that their medications and products are safe and do not present any health risks by the presence of such a valid license.
  • Applicants can use the import medication license to develop their businesses and sell their goods internationally.

Types of Pharmaceutical Licenses

The government of India permits the following categories of pharmaceutical licenses:

Manufacturing Permit - Enables producers to create any type of medication or treatment.

Sale License - The following categories of licenses are available to let businesses sell drugs:

  • License for wholesale drugs
  • Drug Store License
  • License for Restricted Drugs
  • Loan licenses are used by companies who produce pharmaceuticals at another facility's manufacturing complex.
  • Enterprises can import medications with the use of import licenses.
  • A multi-drug license is required for businesses that run pharmacies under the same name in many states.

Checklist for Pharmaceutical Company Registration
 

The business owners should make sure they have a capable pharmacist on staff before submitting an online drug licencing application. All of the medications offered by these institutions must be handled by a qualified individual.

In case you are seeking a Retail Pharmaceutical License, you will require a qualified pharmacist. A graduate with over a year's worth of experience or an undergraduate with at least four years will be needed for a wholesale permit, on the other hand.

The establishment's carpet area must be greater than 10 square metres in order to start a pharmacy. If you want to apply for a wholesale drug licence, your property must be well-ventilated and have a minimum space of 15 square metres.

All medications must be kept in a cold, sterile, and well-ventilated location. The facility must have the essential setups and facilities in case specific vaccinations or medications need particular storage circumstances, including low-temperature zones. All such properties must thus be equipped with sufficient refrigeration and cooling systems.

A pharmaceutical examiner will visit your place of company to ensure you have all the necessary information before completing the drug licence verification. To confirm that they possess the necessary expertise and skills, they may also speak with a knowledgeable individual or pharmacist.

Pharmaceutical Company Registration Process

  • Prepare a project report or consult pharma specialists for help. Gain experience in pharmaceutical sales and marketing.
     
  • Construct a business strategy.
     
  • Select a location for your company's setup. 
     
  • Find a shop, building, or location for an office, licenses, & stock. It can be rented or owned, but as per government rules & regulations, there must be enough room.
     
  • Money Source
     
  • Analysis and Make a list of all the molecules and combinations you want to use, depending on the speciality you wish to pursue (general, pediatric, cardiac, cancer, etc.).
     
  • Complete naming the company and all of the product brands. Make sure these don't resemble any companies or brands that are already operational in the market. It is challenging to select a distinctive name because thousands of brands and businesses exist.  
     
  • Work as a firm or register as a company under the Company Act as a private limited, one-person company, or limited liability partnership, proprietorship, partnership.
     
  • The hiring of a certified pharmacist or competent individual in accordance with standards. (If neither you nor your partners are an EP or a pharmacist.) To obtain a drug license, you must be a certified person who is either capable or a pharmacist. We shall cover the needs of competent people.
     
  • Get a drug license number by applying. You must create a file and attach the necessary documentation before submitting it to the district drug control office.  Applying for a drug license under the same name as your business registration or company registration is advised. If your business is registered as Xyz Pvt Ltd, then you need to obtain a license with that name.
     
  • Upon receipt of a drug licence number. 
     
  • Request a GST number.
     
  • Look up, contract manufacturers or third-party manufacturers. Contact a pharmaceutical manufacturer and submit an application for a loan license if you want to demonstrate production using your marketing company's address as well.
     
  • Order from the manufacturer
     
  • Make a contract or arrangement.
     
  • Complete payment and other procedures (often 25% advance & 75% against Performa invoice), packaging and packing are finalised.
     
  • The manufacturer will finish all work.
     
  • When the goods are ready, the manufacturer will let you know & give you a Performa invoice  
     
  • The manufacturer will dispatch the item to your billing address after the balance is paid.
     
  • Transportation
     
  • Receive
     
  • Launch your pharmaceutical interests' marketing, promotion, & distribution campaigns.
     
  • The applicant will obtain a special Registration Number after successfully registering, which they can use moving forward and for future reference. Additionally, the printouts must be sent to the relevant authorities within 15 days of filing the online application in jurisdictions where applicants must physically provide the required documentation.

Eligibility
 

To be authorised to oversee every part of a pharmaceutical marketing company, a competent individual must have one of the following characteristics:

  • After graduation, get documentation demonstrating at least a year of experience working for a wholesale drug-licensed firm that is acceptable to the drug licencing agency. 
  • Pharmacist with State Pharmacy Council registration.

Investments Required for Registering a Pharmaceutical Company
 

Fixed expenditure
 

The location, the store or office, the furnishings and fittings, the computer and electronic equipment, as well as other fixed investments for the pharmaceutical marketing company Expenses related to any extra requirements, such as fees for registration and licensing, etc.

Capital investment

All costs that are categorised as capital investments include rent and bills, employee wages and regular expenses, bank loan instalments, advertising and promotion charges, and other costs.

Investment in inventory
 

Big investments in the stock of products are included in inventory investments.

Documents Required for Pharmaceutical Company License
 

The essentials documents that are required to perform the registration of a pharmaceutical company are as follows:-

  • The application will be filed in Form 19, together with additional forms of comprehensive information.
     
  • You or your spouse (if any) should be a licensed pharmacist, an experienced person, or a qualified individual who has been duly registered with the appropriate local authorities. If you don't meet the requirements listed above, you can designate or engage an experienced person (EP) or certified pharmacist to perform all work on your behalf.
     
  • The size of the premises should be at least 10 square meters (the required space may vary) & should only be one premise.
     
  • Affidavits
     
  • Charges  
     
  • The blueprint or plan of the premises
     
  • Copy of a frozen purchase bill with the full address.
     
  • If applicable, the air conditioner
     
  • Lease or ownership deed for the property.
     
  • Electricity cost for the property.
     
  • Owner, partner, pharmacist, EP, etc. affidavits, etc.
     
  • For a private limited company, a receipt for firm registration. 
     
  • You must send a list of directors, address verification, a copy of your association's bylaws, and the application form.
     
  • Any partnership agreements
     
  • Any other papers that the local drug controller requests

Scope of Work
 

The pharmaceutical industry is supported by a huge number of Indian & foreign pharmaceutical companies operating profitably in India, making it the third biggest market in the world in terms of volume. Currently, Hyderabad, Mumbai, Bengaluru, and Ahmedabad are the most important and well-known pharmaceutical centres in India, and these cities are home to several domestic and international pharmaceutical firms. All appropriate company kinds may be created for the intended forms of engagement in the Indian pharmaceutical industry.  

Conclusion
 

With the expert assistance of our qualified and seasoned lawyers, all relevant licensing kinds are also attainable. The Indian Drugs and Cosmetics Act & Rules and the Indian Drug Controller General are the only relevant legal documents for these objectives. Online legal India's legal counsel may also assist business owners and professionals in formulating elegant growth strategies, choosing workable business plans, and predicting the future of the Indian pharmaceutical industry.

 


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