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How to Begin and Set Up Pharma Manufacturing Company in India?
The Make in India initiative by the Indian Government provides remarkable support to entrepreneurs looking to set up a pharmacy manufacturing unit.
By streamlining the processes and procedures, entrepreneurs can focus on what matters most, success in their business venture by opening a medicine manufacturing company.
How to Start a Pharma Manufacturing Company?
Before setting up a pharmaceutical manufacturing plant in India, you must choose an appropriate and unique name for the company.
Once you have chosen one, decide which type of manufacturing you would like to specialize in Modern or Ayurvedic medicines, Homeopathy, or Unani.
The options also include branded pharma companies, over-the-counter drug companies, generic pharma companies, export-oriented pharma manufacturing companies, and pharma hospital supply and distribution companies.
You can also initiate a manufacturing unit for medical devices, surgical instruments, ophthalmic drops, and parenteral drugs.
How Do you Register a Pharma Company and Ensure it is Legally Safeguarded?
To ensure that your company is legally protected, you must register it under the legal framework. Companies registered under the Companies Act 1965 or Companies Act 2013 provide comprehensive coverage in structure and liability.
Additionally, partnership firms must register under the Limited Liability Partnerships (LLP) under Partnership Act 1932. You can also opt for MSME registration.
Documents Needed to Fulfill the Requirements of your Pharma Business
To meet the medicine manufacturing business requirements, you need a bank challan copy or fee receipt for payment purposes. Additionally, you will need details of staff and written consent for full-time employment.
It is also essential to have a layout plan of the premises, purchase documents or rent agreement to prove ownership. You must provide bills for equipment and machinery purchased, in addition to partnership deeds, MOAs, AOA and details of all authorized partners.
Be sure to acquire permission from State Pollution Control Board and a site plan, loan license letter and NOC from the Municipal Corporation. A clearance must be obtained from the Drug Controller General of India.
Steps Needed to Get the Pharma Manufacturing License
- Fulfill the requirements as per the Drugs and Cosmetics Act of 1940
- Verify and clear the blueprint of the layout plan
- Apply for a Drug and Cosmetic manufacturing license
- Make payment as per the suggested mode of payment
- You require to fill out a diversity of forms based on the category of drugs
Moving Forward: You can Even Connect with us to Start a Pharma Franchise Business in India
Kamron Group is a top-notch manufacturer and marketer of pharmaceutical products with tremendous experience as a Pharma Franchise Company in India. So, if you want to become part of a Pharmaceuticals Franchise, we are the best PCD Pharma Franchise Company in India.
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