The Pharma industry is huge and continues to grow in a multitude of ways. It is extremely important in every economy, the upkeep of which is intrinsic to the growth of any nation. The supply of medicines which is done by Pharma companies is initiated by different means. The most common ones include generic, PCD and ethical Pharma sectors. All three of these are different types of business practices. However, all of them belong to the Pharma family and have different distribution channels. Here are the following sectors elucidated:
PCD OR PROPAGANDA-CUM-DISTRIBUTION
This sector offers the rights of distributing in the market to an experienced business or a novice company. This model requires less investment and a lot of profit margin. In this kind of business model, an entrepreneur purchases a franchise right of a company to sell and promote the products. The promotion in the market is done through doctors or physicians.
GENERIC SECTOR
In this sector, the companies sell generic medicines to the retailers directly through the usage of a distribution channel. The sales representatives help further in selling the products. The generic drugs usually use the same path of administration. These products are more cost-effective than branded products. They prove to be very helpful in restoring health and wellness in economically weak areas.This is why the generic sector has an extremely bright future and wonderful business prospects in India and other developing countries.
How do generic and brand-name drugs vary?
The very glance at the pills is enough to know if you’re purchasing from the generic sector or getting your hands on some brand-name drugs. The price of the products is also an important factor, because the brand-name drugs are much more expensive than the generic drugs. The most obvious distinction between generic and brand-name prescription drugs is related to the cost. The former capture low-cost markets where the consumers aim for affordable healthcare. However, there is no quality difference between the generic and ethical medicines.
ETHICAL PHARMA SECTOR
This sector is where the medicines are marketed through a network of medical representatives. They are the brand ambassadors of the company who market and promote the products. These medical representatives share all the relevant news with the doctors concerned. They also seek to convince the doctors about the merits of the products.The actual growth and success of the ethical Pharma sector only depend upon the efficiency, hard work and dedication of the medical representatives. It also depends upon the convincing power of the workforce.
Conclusion
This sector is one of the oldest sectors in the country and is very effective when you consider it in a traditional sphere of operations.
If you are looking for Pharma companies in India Unibiotech offers extraordinary marketing support through its expertise. The company’s motto is to spread health and happiness to all through ethical means of operations.