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\nStarting a pharmaceutical business may sound very exciting, and it is actually, but there are many challenges in the path as well. Here you know the factors that becoming pharma business tougher and harder with time.\n

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factors that becoming pharma business tougher

FACTORS THAT BECOMING PHARMA BUSINESS TOUGHER AND HARDER WITH TIME

Starting a pharmaceutical business may sound very exciting, and it is actually. However, there are many challenges in the path as well.

The heat of the low margin is the biggest one. Yes, it is not a much-known fact for those who look at the business from outside.

Pharma business is a low margin business nowadays.  Gone are the days when high MRP and high-profit margin were the signature characteristics of it.

With the introduction of Drug Price and Control Order 2013, the things have changed.

With every passing year, more and more drugs are trapping in the net of DPCO; making the life of pharmaceutical companies tougher.

Do you think, it is the only thing that is acting as a stumbling block? No, there are several other hurdles as well.

starting a new pharma business is like walking

STARTING A NEW PHARMA BUSINESS IS LIKE WALKING ON THE ROPE

You must be a daredevil if you decide about launching a new pharma industry after knowing the different aspects making it difficult terrain.

  • Changes happening in the export market put a tremendous burden on Indian companies. Take the US as an example where the recent price control has put Indian companies under tremendous pressure. India exports generic medicines to the USA, and the profit margins are pretty high. Now it is not possible to maintain that profitability. Since Export is one of the biggest sources of income, the things have become difficult now.
  • Another troublemaker aspect is high competition. Daily new companies are emerging in the market, and every day new people visit physicians and medical stores for recommending their products. Since the competition is cutthroat, representatives use all possible means to win the deal. It is needless to say that fair and unfair, all practices prevail. Those who can’t tolerate with unethical means are forced to exit from the scene. Therefore, pharmaceutical companies find it a tough game.
new and new rules and regulations are being

New and new rules and regulations are being introduced every year as the sector gets matured and structured. It is not an exception situation with pharmaceutical sector. Every sector faces it during the evolution. Experts say that still a long way to go as far as standardization is concerned. Indian pharmaceutical market will be in top-three within next five years. However, it doesn’t comply with the international standards. As efforts will be made to make it standardize further, the situation will be further difficult.

  • International pressures on pricing are increasing. As importers know that there is a room for a price reduction, they are constantly putting pressures. It is not possible to resist such pressures in the modern world where everything is transparent. When big companies find it impossible to maintain profitability by exporting the material, they will explore the possibility in the domestic market. It will put pressure on medium and small-scale industries.
  • Online pharmacy is the new business concept. It will become further popular in the coming times and trouble established companies.
thus running a pharma company becomes hard

Thus, running a pharma company becomes hard and tough with time.

  • If you are looking for top PCD pharma companies in India then Progressive Life Care is a best PCD pharma company in Ahmedabad located in Gujarat. We offer pharmaceutical franchise with extraordinary marketing support.
  • Read More Articles:
  • How to Export Pharmaceutical Products and Medicines from India?
  • Which is the best pharma company for PCD franchise?
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