A Pharma Franchise is a specific type of franchise business. To better understand it, let’s first define what a franchise business is.
Franchising occurs when a company grants permission to an individual or another firm to market and sell its products under its brand name. In simple terms, a franchise is a legal agreement between two parties: the franchiser, which is the parent company that owns the brand, and the franchisee, which is the person or organisation that obtains the rights to sell the franchiser’s products.
Pharma PCD (Propaganda cum Distribution) Franchise is similar to a Pharma Franchise. It involves a pharmaceutical company granting exclusive authorization to a distributor to promote and distribute the company’s products under its brand name.
**PCD Full Form** Propaganda cum Distribution
No, both PCD and Pharma Franchise are the same.
The methods of transporting goods include air, water, and land, which encompasses both rail and road. Customers need to determine which mode of transport is the most suitable for their needs.
GR stands for Goods Receipt, while LR stands for Lorry Receipt. These terms are synonyms for Bility. The transporter issues this receipt once the material is loaded onto the vehicle for delivery.
An account ledger is a record used to track, summarise, and report a company’s transactions. It chronologically records all customer payments and sales transactions. By maintaining an accurate account ledger, you can easily review financial activities and ensure proper payment collection from customers. They are recorded in chronological order.
The following are the means by which payments can be received:
– **PTR (Price to Retailer)**: This is the price at which goods are sold to retailers, and it constitutes 28.5%.
– **PTS (Price to Stockist)**: This is the price at which goods are sold to stockists, and it accounts for 10%.a stockist.
For easy calculations:- use rokmex’s PTR PTS calculator
To start a pharmaceutical business in India, obtaining a drug license is essential. The Central Drugs Standard Control Organisation (CDSCO) and the State Drugs Standard Control Organisation are responsible for issuing these licenses. Typically, there are two types of permits issued:
1. **Retail Drug License** – This license is granted to individuals operating a chemist shop.
2. **Wholesale Drug License** – This is issued to those who wish to sell drugs at a wholesale level.
3. **Doctor Registration Number** – It’s useful for doctors to prescribe medicines, and even wholesale or retail can be given for billing.
In some states, a retail drug license may only be issued to individuals who have a degree or diploma in pharmacy from a recognised university.
At Rokmex Biocare, we manage billing for both Retail and Wholesale Drug Licenses, as well as doctor registration numbers.
Third-party or contract manufacturing involves outsourcing the production of pharmaceutical products, or having other manufacturers create products under your own brand name.
**ProForma Invoice (PI)**: A proforma invoice is a preliminary bill of sale sent to buyers before the shipment or delivery of goods. This invoice typically describes the purchased items along with key information such as rates, maximum retail price (MRP), batch number, and expiry date. Please note that a proforma invoice is not valid for claiming Input Tax.
**Tax Invoice**: A tax invoice is a commercial document provided to the buyer that contains details about the products or services supplied by the seller. This type of invoice is valid for claiming Input Tax.
The promotional materials that are being provided by Rokmex Biocare are as follows:
A monopoly occurs when there is only one supplier of a specific commodity in a given area. In this situation, a single person or entity has complete control over the market. A Pharma Franchise monopoly agreement specifies that only one person or company can operate in a particular location, as outlined in the contract. To secure a monopoly, it is advisable to look for available locations in your target area.
A sales tax is a tax imposed by a governing body on the sale of specific goods and services. It is applied to both domestically produced and imported items. If these goods and services are resold without any added value, sales tax is not charged again on that resale. Sales tax is enforced by both the central government and state governments.
The World Health Organisation (WHO) is a specialised agency of the United Nations focused on international public health. The WHO system ensures that products are manufactured and controlled according to high-quality standards. In fact, the WHO manufacturing process adheres to more rigorous criteria than Good Manufacturing Practice (GMP).
GMP is a system designed to ensure that products are consistently produced and controlled in line with quality standards. It encompasses all aspects of production, including starting materials, facilities, equipment, staff training, and personal hygiene. There must be systems in place to provide documented evidence that correct procedures are consistently followed at every stage of the manufacturing process, every time a product is produced.
WHO-GMP certificates are highly valuable as they demonstrate that a company maintains quality throughout each department (for GMP certificates) and that it produces formulations that comply with international quality standards (for WHO GMP certificates).