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Pharmaceutical Exporter And Distributor In India
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Pharmacy is one of the fastest growing sectors in India. It has been clocking impressive growth numbers of about 14-17 percent since last five years. Businesses associated with this sector have reaped the benefits of it. Specially the researchers and retailers in pharmaceutical business. Brisk growth has been observed at retail sales and wholesale sales and export. Let’s have a look at how every Indian Pharmaceutical Distributor is going about their setup. To obtain a license to run this business it is necessary to be a member of DGCI which is the regulatory body of pharmaceutical industry. DGCI demands a monetary deposit. The returns are shared between the regulatory body and the members. The money received by DGCI is used in maintaining their setup to monitor the activities of all its members. Post membership these wholesalers tie up with various manufacturing companies so that the dependence and cost factors on stockists and distributors can be reduced as much as possible. These wholesalers then supply to retailers they are associated with as per demand needs. Earlier the manufacturers used to sell their goods to stockists and distributors. The manufacturers are not happy with the new arrangement since they will have to deal with multiple wholesalers which would burden their management. The food and drug administration has declared that no wholesaler can be denied supply and doing so will attract penalty under the Drug Price Control Order and Competition Act. Whether this business will benefit the consumers at large is subjective to the various state laws.
Every Pharmaceutical Exporter in India is trying to exploit the growth period and gain a bigger market share than their peers and competitors. To maintain the quality and yet achieve growth Government of India is planning to launch a brand pharmacy India campaign. IBEF is involved in this project. The campaign will be executed in three phases. In the first phase the industry and its members will be promoted in domestic market in tier-I and tier-II cities. If the response is positive the government plans to continue the same campaign unchanged in exporting countries. If the campaigns do not receive positive response then an entirely new campaign will be developed and the entire procedure will be repeated. The government and regulatory bodies have come on a common platform to achieve the set targets. The regulatory bodies feel this will give their members a face on the global stage and will form a strong identity and brand understanding amongst other countries and India too. Healthcare ministry are in talks with many celebrities to embrace this campaign. The whole idea behind roping in a celebrity is that they gain mass acceptance. One such example is of renowned Indian actor Amitabh Bachchan who was involved in campaigning 'polio free India' project which have borne positive results. This campaign will be launched after approval of all the members of the regulatory bodies involved with the Healthcare Ministry of India.
Almost every Pharmaceutical Wholesaler in India has all the infrastructure capabilities. By infrastructure capabilities we mean warehousing, stocking, maintaining and deliverability of manufactured drugs. Keeping this in mind The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has planned to setup their own warehouses in African countries to start with. This is so because African continent is the biggest importer of drugs in the world and India is one of the cheapest manufacturers. This arrangement suits and benefits both the regions. Also Nigeria is strategically located in Africa and has been politically stable since past five in the tumultuous region. Nigerian government has welcomed this move from Pharmexcil and is extending support for hassle free setup in their country. Not only big business houses in India in pharmaceutical sector will benefit but it will also open new avenues of growth for various start-ups and small medium enterprises associated with this business. Healthcare ministry of India has setup a special committee of senior bureaucrats to execute and monitor activities of this setup at various levels. This move will play a key role in supply chain and will help to manage and control the storage and movement of medicines. There will be optimization based on real time information and will enhance utilization on both ends.
For the past 3 years I have been writing informative and high quality articles on pharmaceutical company. In the above article have covered topics such as indian pharmaceutical distributor, pharmaceutical exporter, pharmaceutical wholesaler in india.
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