Benefits of Third Party Manufacturing of Pharmaceuticals

1. BENEFITS OF THIRD PARTY MANUFACTURING OF PHARMACEUTICALS IN INDIA A Guide by Anchit Agarwal

2. Benefits of Third Party Manufacturing in pharma franchise

3. ➢Third party manufacturing of pharmaceutical business has been a widely used, popular business model from quite some time. It is also referred to as contract manufacturing. ➢You will be wondered to know that amongst the pharmaceutical products sold today, the majority are third-party products. ➢The fundamental concept of this model is to the production of drugs by a pharmaceutical company under the name or brand of another company. ADVANTAGES OF THIRD PARTY MANUFACTURING IN PHARMA INDUSTRY

4. ➢The company which outsources the production work keeps the responsibility of publicizing and promoting the products and brand. ➢This business model became popular because it gives an excellent business opportunity to both parties.

5. BENEFITS OF MANUFACTURING PHARMA PRODUCTS UNDER THE THIRD-PARTY MODEL Why is this model getting such an enormous appeal? Here are some unique advantages. ➢Third-party manufacturers give support to multiple clients (notwithstanding competing) as per the recipes and outline provided by them. ➢The pharma company gets quality products if a reliable and experienced third-party manufacturer is selected. ➢Business expansion with low investment is possible using this model. It is easy to add one more product to the product line without increasing the investment much. If the third-party manufacturer uses standardized production setup, then expansion becomes furthermore easy.

6. ➢ Both product company and third-party manufacturer get the advantages. A third-party manufacturer can produce the similar product for different companies with different brand names. Similarly, a pharma company can outsource the same drug to different manufacturers. Thus, high levels of business efficiency can be achieved. ➢ Cost-effectiveness is the apparent business benefit. The services offered by third-party manufacturers are less costly than managing in-house. The pharma company gets relieved from the worries of arranging the starting capital and recurring maintenance costs. ➢ When the products are in high demand, the third-party production becomes highly cost-effective. The product owner can negotiate on better prices based on bulk production. The third-party manufacturer will fulfill the additional requirement at concessional rates as it will increase their profitability as well.

7. ➢After outsourcing the production process to a third-party manufacturer, the pharma company gets an uninterrupted supply of quality drugs. The professionalism and expertise of both partners raise the bar higher and higher. The long professional experience of both helps in getting more business. ➢In short, the benefits of manufacturing pharma products using the third-party model are many. Finding an experienced, reputable third-party partner is a challenging task. It requires a lot of study and research. ➢Once you get a good partner, the rest of the things become easy.

8.  If you are looking for PCD Pharma Companies in India then Progressive Life Care is a Top PCD Pharma Company in Ahmedabad located in Gujarat. Which offer a Pharmaceutical franchise with extra ordinary marketing support.  Also Read: 1) How Pharma Companies Generate Franchise Queries and Boost Business? 2) How to start a successful Business in Pharmaceutical Sector?

9. Contact US Website http://www.progressivelifecare.com/ Phone No: (+91) 982 444 3968 Email ID:progressivelifecare@gmail.com Timing: Mon to Sat 11Am To 7PM