• Difference Between PCD, Generic and Ethical Pharma Business

    citriclabs | Difference Between PCD, Generic and Ethical Pharma Business

     

    The pharmaceutical industry is a large part of the Indian healthcare sector. There are lots of businesses and people working in it and there are many ways to set up a business. In India, medicines are always in demand. There are many people out there who depend on medicines to live their lives. If you want to get into the pharma industry, firstly you have to understand the differences between PCD, generic, and ethical medicines is a good place to start.

    Difference Between PCD, Generic, And Ethical Pharma Business

    PCD Business:-

    This is also known as Propaganda Cum Distribution. Many pharma companies in many states are in this category. The motive of this type of Pharma Company is that it signs a professional agreement with a person or a group of persons. This is a franchise and marketing agreement. The franchise owner gets the power for marketing distribution rights and usage of the domain name of the pharma company.

    People who want to enter the pharma market as a PCD pharma distributor will have a great opportunity for the simple reason that it requires low investment or capital. If you don’t have so much money to invest, then the PCD model is always with you for your help. Some of the benefits of the PCD model are:

    • No need for huge capital investment
    • No need for huge premises to start.
    • There is no need for so many staff to start the business.

    Generic Business:-

    Generic medicines are manufactured by PCD pharma companies and they are directly sold to the retailers with help from a good sales support team and distribution channel. There is one thing to understand in this model it works very well in a country like India where the price of a product is a huge factor. When you know how many people are ready to purchase your product or what is the demand for your product in the market.

    Generic drugs are available at a type of the cost of brand-name drugs and thus have a huge demand.

    They have the same strong and normal ingredients as brand-name drugs and they look different, they offer patients the same kind of cure and treatment they don’t do partiality with their patients. That is the reason many people prefer generic medicines over others. The benefits of the Generic pharma model are:

    • It has the same formulation as brand-name medicines
    • Highly popular in lower-income areas
    • This benefits those who can’t afford expensive medicines and borrow from others to take medicine to save their lives.
    • This is an extremely beneficial model for young entrepreneurs to enter the pharma market to earn profits.
     

    Ethical Medicine:-

    This is the greatest model that medicine franchise companies often use to increase their sales. The promotion work is mainly done by medical representatives who contact doctors and healthcare providers. They directly promote their medicines. The benefits of this model are:

    • High-quality medicines or drugs are available only through this model.
    • The profit margin in the sector is higher than that of other entrepreneurs.
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