Ideal product list for Pharmaceutical Company
Proper product selection is essential for any pharma company. Whether you are running Pharma manufacturing company or operating PCD Pharma Company, selection of the correct product list has always a prime role in the success or failure of the business. There are two types of molecules can be provided by any pharma company. One is the latest product molecules which are good for competition and second is running product molecules which are responsible for a good sale. So it is very important for any start-up pharma company to make product list keeping in mind above given points. We are here offering you an example for making proper product list for your PCD Company.
We are here providing this suggestion for example purpose only. You can create your own product list as per market demand, budget and business strategy. Following given factors are also responsible for final product selection.
Seasonal Products- Some products are known as seasonal products because their demand increases in a particular season only. For example, anti-malarial medicine, anti-cold drugs and cough syrups are seasonal products. They can boast sale in the season but also sometimes remain in stock as non-moving products.
Product Trend- Like any other business market, pharma is also an innovative business market. New, innovative and more effective drugs can change the market trends easily. Even doctors also love to write new and more effective products making old molecules out from the market. So it is always beneficial to conduct proper research before making the final product list.
Antibiotics- Antibiotic product has always huge demand and they can cover your large part of the sale but due to tough competition, they provide lesser margin. You need to remain updated for your antibiotic products as per market trend and government policies.
Antacids- These medicines are also high selling products. Most doctors prescribe antacids with various multivitamin tablets. Some doctors prefer Omeprazole, some prefer Rabeprazole or Pantoprazole. Each one is high in demand with or without their combination.
Multivitamins- These are also medications which can provide good margin and huge sale. Some well-known names are Ginseng, Biotin, Babilona, Lycopene and many more prescribed by doctors.
Injection- Injections are also high selling form of medicines. They can provide low margin but have a high rate of consumption. Some Pharma Franchisees are supplied directly to clinics and healthcare centres.
Drops- Eye and ear drops are another form of medicines which can provide an edge over competitors because not all pharma companies have eye/ear drops in their product list. Some companies are managing separate division for this section.
Ayurvedic and Herbal- Ayurvedic products are making your product list complete. Some ayurvedic products must be included in your product list at least pain oil, liver tonic or gynae products can be included.
Above given products are a good choice but you can also add skin and derma range if you have a good budget. Similarly, Liquids and syrups are also important. Ideal product list should contain capsule, tablet, liquid, drop, syrup, soft gel, injection, sachet, ointment and ayurvedic products.
