Franchise is a term which is defined as an authorization granted by a government or company or organization to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent or marketing or sale for a company’s products.
Pharma Franchise is an authorization granted by a pharmaceutical company to an individual or group or distributor that allow them to carry out pharmaceutical company’s proprietary knowledge, products, trademarks, brand names and other commercial activities at monopoly right or other mutual agreed term & condition for specific area for example marketing, sale, distribution, doctor’s promotion authorization/appointment of distributors etc for a company products or services. It also known as PCD marketing. PCD means propaganda cum distributors.
Pharma Franchise/PCD is authorization of marketing and distribution rights at monopoly basis given by pharmaceutical company to pharma professional or distributor or group of professionals or distributors to use their brand name, company name and other commercial activity on behalf of company.
The pharma franchise business has many benefits that attract the number if pharma experts to invest in this sector.