You are the whole and sole owner of your business. The profit margins are higher, and the growth opportunity better. The more you put into the business, the more you get. It gives independence. You are the decision-making person in your business.

Yes, targets are there, but they depend on the area you are operating into. The targets could be monthly or yearly it depends on the company policy.

The following are the mandatory documents to get a pharma franchise • Drug license copy (wholesaler/retailer) • GST copy issued by govt.

Selling and marketing the products are managed by the franchise. The pharma company provides promotional material and marketing support. It depends on the contract agreement. Similarly, the responsibility of marketing and distribution also lies with the franchise. Pharma company sends a medical representative to train the staff.

The money you need to launch the franchise business depends on factors like the number of products to be marketed, product types, batch size, molecules, and so on. Typically, a small franchise can be started with an amount of 50K rupees. The majority of it is spent on buying products and promotional material. As such, it is not mandatory to have a shop, warehouse, or depot. It depends on the terms and conditions imposed by the pharma company.

There is a provision of 12% or 18% GST on the invoice amount as per the current slab. It is subject to change. You have to keep updated with the latest tax rates.

Generic medicines are those drugs which are marketed under a non-proprietary or approved name rather than a proprietary (Patent) or brand name. Generic drugs are equally effective and inexpensive compared to their branded counterparts. E.g.:- Nimugin contain the molecule Nimesulide and market with the brand name of Nimugin while generic version also contain molecule Nimesulide and market with the name of Nimesulide only.

Generic medicine makers don’t face the same costs as manufacturers of brand-name drugs as they often invent the drug, a process that can cost hundreds of millions of dollars. The rationale behind drug patents: They give pharmaceutical companies a period of years when only they can make money on a product in which they have made a large investment. That investment also includes advertising. For a generic manufacturer, no such investment is required — not in development and not in marketing. The drug’s formula is known, the clinical trials are complete; the generic maker’s only requirement is to demonstrate to regulators that its version is as good and effective in humans as the original. That is an enormous economic advantage for these companies, which is why their drugs are much cheaper.