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India, home to a phenomenal flourishing pharmaceutical industry, offers endless low-cost alternatives for companies desiring to enter the expanding market. Third-party manufacturing is one such solution that has gained immense popularity. In this model, pharma franchise companies outsource the actual manufacture of medicines to third-party manufacturers who are specialized in this process so that they can spend more time on marketing and distribution. Quality products are assured.
Third-party manufacturing, also known as contract manufacturing, is when a pharmaceutical company outsources the production of its products to a dedicated manufacturing unit. These manufacturing units are certified, equipped, and have the expertise to manufacture medicines under stringent regulatory standards.
Huge investments need to be made in setting up an independent manufacturing unit, which includes the cost for infrastructure, machinery, raw materials, and regulatory approvals, among others. With third-party manufacturing, these expenses are avoided, and pharma franchise companies can use these resources for branding and distribution.
Reputed third-party manufacturers in India comply with WHO-GMP and ISO standards and produce medicines that meet global quality benchmarks. In this way, customer and healthcare professionals' confidence is guaranteed.
Outsourcing of production allows pharma franchise companies to focus on marketing, sales, and CRM, resulting in deeper market penetration and revenue generation.
Third-party manufacturers are equipped with ready-to-use formulations and established supply chains, facilitating a fast-paced launch for pharmaceutical companies that want to introduce new products without the wait of establishing any production plant.
With third-party contract manufacturing, pharma franchise companies can widen their product lineup into tablets, capsules, syrups, injectables, ointments, and more without investing in several production lines.
Accordingly, the third-party model gives flexibility to scale up or reduce production according to sales performance with changing market demand, thereby minimizing risks and optimal inventory control.
The agro-industries’ credibility is what stands between life and the success of your pharma franchise business. Thus, you should watch out for some aspects when selecting a manufacturing partner.
. Certifications & Compliance – Verify whether the manufacturer has WHO-GMP, ISO, and DCGI approvals.
. Product Portfolio – Determine whether the manufacturer has diverse formulations complementing your business goals.
. Production Capacity – Even at peak time, a manufacturer should meet your demand.
. Quality Assurance – Check their quality control and testing methods to ensure product efficacy and safety.
. Timely Delivery – Select a manufacturer that enjoys strong supply chain and logistic support in order to avoid experiencing delay issues.
Third-party manufacturing presents a viable and economical option for pharma franchise companies in India wanting to grow their business while avoiding manufacturing expenses. Such collaboration would allow the company to focus on marketing, sales, and branding while getting better-quality products into the market.
If you are searching for a trustworthy partner in third-party manufacturing in India, connect with us today to find the best options for your pharma franchise business!