If you plan to launch any company in the domain of Pharma, it is often daunting to decide upon the niche. This domain is multifaceted and every other facet is equally interesting and exciting. The return on investment is high provided you move forward systematically. If you are perplexed about the three known business streams in this file – PCD, ethical pharma, and generic medicines. All the pharmaceutical companies in India or abroad fall into any of these categories. Its time to understand the difference between the same, have a look at them as under:
PROPAGANDA-CUM-DISTRIBUTION OR PCD – Whether you are a newbie or veteran in the business, PCD business is the right choice. This option can give you the rights of distribution and marketing from any best pharma company. You are given a specific area where you need to market the products. You get the franchise rights to sell these pharma products. All you need to do is to find out doctors and clinics to endorse the products. You need less money to enter into this domain, and also have higher chances to make good profits.
Generic Sector- This model deals with directly selling out generic medicines to the retailers with the help of the distribution channel. The sales representatives facilitate the same. Since the cost of generic medicines is lower, hence these can easily penetrate economically to the weaker section as well. There is a huge scope in generic medicines in the country.
Ethical Pharma Sector – The product marketing in this sector is carried out with the medical rep network. These promote the products and thus convince the retails along with the medical professionals and physicians. To be successful with this model, you need a strong network. Mrs play an important role and can help you in establishing this business model for you.