Diseases and medicines have become an indispensable part of our lives ever since the evolution of mankind. Health problems are on the rise and with it, the pharmaceutical business. Pharmaceutical companies provide drugs or medicines that are required for medical treatments.

Now, in terms of volume, the Indian pharmaceutical business has become the third largest in the world and fourteenth in terms of value. It is estimated to touch US $20 billion and enter the list of the top 10 global pharmaceutical markets. Due to the increase in demand for generic APIs and India has emerged as a frontrunner in the production of these generic Active Pharmaceutical Ingredients (APIs), the future of the Indian pharmaceutical business development seems favorable.

This is essentially the most organized sector in India and performs an essential role in sustaining growth within the subject of world medicine. The trade can attain great heights in production, manufacturing, analysis and development, due to the presence of low cost manufacturing facilities, educated and expert manpower and low-cost labour power. Many Indian companies have made their mark on a global level as they have tied up with several MNCs for research & development of diseases like cancer, AIDS and other third world diseases. The major players within the Indian market are Ranbaxy, Dr. Reddy's, Cipla, etc. What adds to the Indian pharmaceutical business development is the outsourcing received from MNCs who look for a reduction in their manufacturing costs. The Indian pharmaceutical business is yet to reach its maximum potential. However, it does not seem too far with effective measures taken in marketing, research and development.

Franchising has gone to many sectors and pharma sector is one of such. Therefore, the pharma business development program aims at increasing distribution and discovering new international markets. For this, the pharmaceutical industry will need to engage in increasingly aggressive marketing strategies through pharma franchise companies. You can take a franchise of a pharmaceutical store where you have to sell different types of medicines. There are also few pharmaceutical companies offering manufacturing franchises.

For a fee, the franchisor provides the nuts and bolts of a pharmacy operation. The franchisee gets expert help creating and executing a business plan, selecting an appropriate pharmacy location, obtaining the necessary business licenses and permits, meeting state regulatory requirements, creating management systems and other mandates, installing and learning information management systems, getting access to third-party contracts, creating a professional look and feel, building a marketing program, and more.

Pharma franchise companies also offer pharma franchisees significant training to individuals starting their own pharma franchise business. The growing importance of the pharma franchise results in pharmaceutical companies that are structured and managed like consumer brand companies, with the franchise regarded as a semi-independent business unit. As with any corporation, pharma franchise companies require planning, implementation and Management.

The Pharma franchise business is extremely lucrative and provides enormous growth opportunities, The wake of investments gives a promising future to the pharmaceutical industry. It has large potential for growth and there are a number of upcoming initiatives with tie-up firms, both within the domestic and world market.

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