Third Party Medicine Manufacturing Company – Let us first reflect on the meaning of third party manufacturing of pharma products and the role of a third party medicine manufacturing company. The term third party manufacturing of pharma products alludes to the process of outsourcing manufacturing of pharma products to another manufacturing company under your own brand name. The companies that do third party pharma manufacturing are called third party manufacturer companies.
In the present times, it is a mainstream business model among all the pharma franchise companies. In fact, even smaller pharma manufacturers having own manufacturing facilities are reverting to third party pharma manufacturing companies to take advantage of large production capacity and reasonable prices. The third party medicine manufacturers are very popular in India and abroad because of the numerous advantages they offer.
We will focus on the benefits of using a third party pharma manufacturing company, but first, let us look at the steps to get pharma products manufactured from third party pharma manufacturing companies.
Third Party Manufacturing of Pharma Products Done in 6 Simple Steps
- Create a List of Desired Pharma Products and Send Enquiry for Price Quote
Write down your list of desired pharma products that you want to be manufactured by the third party medicine manufacturing company. Create a list of several top third party manufacturer companies in India that could be your potential business partners. It is easy to find the names online and via references. Your following step should be to email or call all the potential third party medicine manufacturers to gather information about their price quote, minimum order quantity, payment terms, etc.
- Finalizing Quantity & Medicine Composition
Next, you must decide the quantity of pharma product you desire from the third party pharma manufacturing company. Also, finalize the product composition.
- Place the Order with the Third Party Medicine Manufacturing Company
Once the product composition and quantity are finalized, you should put in a buy request to the chosen manufacturer. Once the third party manufacturer accepts and confirms the order, you should initiate an advance payment in order to start the manufacturing process.
- Finalize the Packaging & Labeling
Take care of the following points while finalizing the packaging and labeling of pharma products.
- Brand Name and Logo to be Put on the Packaging
- Product Name, Composition, Manufacturing Details
- Package Design, Color
- Marketing Company Name, Address, Logo on the Box
- Other Legal Requirements & Documents
You must furnish the following documents to the third party manufacturing company.
- Company Name and Profile
- Aadhar Card and Pan Card of the Company’s Director
- Wholesale Drug License
- TIN & Sales Tax Certificate
- Third Party Pharma Manufacturing Agreement
- Non-resemblance Certificate
- Finished Product Delivery
Once the desired products are prepared, the third party pharma manufacturing company will send you a quotation with the product details and the amount that is due for payment to the manufacturer. Once the payment is complete from your end, the third party manufacturer will dispatch the order via your preferred logistic company.
Benefits of Using a Third Party Medicine Manufacturing Company
Third party manufacturers offer plenty of benefits to their associates. Some of the benefits are as follows.
- Top third party manufacturers provide high-quality pharma products prepared in WHO-GMP certified manufacturing facilities.
- Third party medicine manufacturers offer large scale production capacity at reasonable prices.
- Third party manufacturers employ a dedicated in-house quality control team.
- The top third party manufacturing pharma companies guarantee a timely and regular supply of products to pharma franchise companies.
- Most third party manufacturers offer all-inclusive manufacturing starting with material procurement, development, warehousing, and delivery.
If you have any questions related to third party manufacturing of pharma products, then call Rednirus Suppliers at +91-9876542225.