What to look for in a Third Party Pharma Manufacturer
Pharmaceuticals is an integral parts of our lives and so a huge business. Per Capita expenditure on medicine & healthcare products is rising year to year by 8-9% in India. To meet the medicine demand at the same time compete in the market in terms of quality, market Share, Profitability & Reputation building requires lot of resources and energy. Young & dynamic professionals are entering into the market by launching Medicine Marketing or Trading Companies and offers niche & innovative products in the market through Third Party Pharma Manufacturer.
In the current time, Third Party Pharma Manufacturing is very popular strategy among all the marketing companies or Pharma Franchise Companies. Third party or contract manufacturing is referred to the outsourcing of pharmaceutical products or to get products manufactured from others manufacturing units with your own brand names under an agreement. Third party Manufacturing or Contract Manufacturing Concept is being used as a Expansion Strategy by Pharma Marketing companies to expand their product range. Even Pharma Companies with own manufacturing units get their products manufactured by other manufacturers.
It is hard to find a single manufacturer for all the products you are planning to manufacture. To get rid of this hassles new companies & some of old Marketing companies prefer to hire a third party manufacturing Management & Consultation company to get their dosages manufactured at best price & intime. Here are few points that must be considered while selecting a Pharma Contract Manufacture or third Party Manufacturing Company :
WHO-GMP Certification: – Whether you hire a Third Party manufacturing Company with own manufacturing unit or a consultation firm always look for Their WHO-GMP certification for your required dosages type.
ISO or CRISIL Certification: These agencies verifies the business documents & other legal documents to ensure the company is following the ethical business practices.
Product Tracking & Management Tools: Some of the top Pharma Contract Manufacturing Companies provides their clients with an user panel over web, android or IOS to track and manage their frequent orders online.
Transportation & product Handling: If a Contract manufacturing company have tie ups with one or two Transporters & Courier service providers could be considered the best compare to one hire Transporter randomly.
Few other points to be considered are as follows:
Minimum & Maximum batch Size – Minimum order quantity can be 500 boxes
For Injections – 2000 Units
For syrup – 2500 Bottles
Cross Countries IEC & DCGI Certifications
Documents Required for 3rd Party Manufacturing:
1. Profile:
(Brief Profile with Copy of PAN Card of the company and a Copy of Memorandum & Articles of Association in case of Pvt. Ltd or limited Company. Partnership deed/ Affidavit for proprietary in case of Partnership firm or Proprietorship firm.)
2. Name, Address & Telephones with copy of Aadhar Card and Pan Cards.
( Of all Directors, Partners or Proprietor both official and residential.)
3. Copy of Resolution for Authorised Signatory to Deal:
(For limited , private limited and partnership companies)
4. Drug Licences :
(Attested copy of Drugs Licenses to be provided)
5. Sales Tax / TIN Registration Certificates.
(Attested copy of Sales tax Registration Certificate to be provided)
6. Agreement for Manufacturing.
7. Certificate for Non-Resemblance.
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