The Indian pharma industry contributes 60% in the vaccine formation worldwide and considered as the world’s third-biggest drug manufacturer by the volume. However, the COVID-19 crisis has jolted the Indian pharmaceutical sector up including pharma franchise business to a great extent. Starting from Wuhan, novel coronavirus is become omnipresent and lead incurred destruction.
Let’s explore what impact the COVID exerts on society and how the pharmaceutical business get affected from it:
-Impact of COVID-19 on the pharma sector
-What is the pharma franchise business?
-How pharma franchise company is helping in the COVID-19 crisis
Today, we are juggling with the once in a century crisis. We are facing the biggest global health crisis of our era. The coronavirus pandemic is spreading like a wave and crash those who are least able to cope. Governments all around the world are rushing to slow down this speed by treating patients, limiting international and national travel, seizing all large gatherings like schools, colleges, malls, sport events and quarantining citizens.
Although, COVID-19 crisis is much more than a health crisis. It also involves economical, social and political crisis. One of major impact that this crisis has put is the pharmaceutical sector.
Impact of COVID-19 on the pharma sector
The Indian pharmaceutical industry is also gone through its major crisis in this pandemic. The very first attack of COVID-19 crisis is on medicines prize. The costs of many medications like penicillin, paracetamol, supplements and many more are raise twofold or triple to its previous cost.
This all happens due to the expanded manufacturing plant termination in China. Indian pharmaceutical sector is majorly depends upon china for APIs (active pharmaceutical ingredients), which are key step to formulate medicines. Due to the impact of COVID-19, supply chains and product exportation is disrupted due to manpower shortages, quarantine polices, hinder transportation systems and restricting access on goods internationally.
However, this dependency of Indian pharmaceutical companies upon China for APIs led the Indian government to establish a task force to assess internal API sector. Recently, government of India has also undertaken an initiative step towards it.
Government proposed an incentive package of 13.76 billion Indian Rupees for accelerating the internal production of important pharmaceutical materials like APIs, medical devices and drug intermediates. Also, India is leading in manufacturing PPE kits. Government is doing all initiatives to make Indian pharmaceutical sector as a self-sustained unit in this crisis. In this, pharma franchise business also play an essential role.
What is pharma franchise business?
Pharma franchise involves an official permission or approval provided by the pharma companies to an individual, groups or distributors to spread their business to different parts around the country or outside the country. Therefore, a pharma franchise company gives a great platform for marketing and sales of pharmaceutical goods in concerned areas. It is also known as pharma franchise PCD. PCD refers to Propaganda-Cum-Distribution i.e. PCD pharma franchise company that provides brand name, products and all associated support to their franchise partner.
In this pandemic crisis, the pharma franchise PCD shows a significant role.
How pharma franchise company is helping in the COVID-19 crisis?
The pharma franchise took a very initiative step which definitely helps to reduce this health and economic crisis.
1) Timely distribution of medicines
Medicines be always an essential part of many people. Today in the scenario of lockdown, people who are encountering with certain health problems such as cardiovascular diseases, diabetes, and thyroid issues etc. need a proper medication regularly. To cope up these needs, dealers must have the sufficient stock of such essential medications.
Here, a pharma franchise company plays a very essential role. With the help of professional relationships and specific permits, these companies helps to distribute all the essential medications to their distributors with same pace and enthusiasm.
2) Creates new boundaries
These days, there are some areas, where health sector is not in good condition. People over their face problems in getting their essential medicines. Pharma franchise also tries to create new boundaries and making new connections to deliver its products to all possible corners of the nation.
3) Delivers healthcare essentials
These pharma franchise companies are modulating and prepare themselves for a new change in a very short time. A time when the spread of coronavirus has swiped all the hand wash and sanitizers from the market hands-on hands, PCD pharma franchise companies had presented new range of these health essentials and help to cover their shortage in the markets by distributing at all corners of the India.
4) Builds up economy
This is one of the major industries along with food and essentials, which is open and doing work effortlessly to fulfill the needs of consumers. The regular pace of sales in the pharma industry may help to cope with the down economy of the nation.
5) Fast, reliable, and certified service
In this world of crisis, a pharma franchise company makes all efforts to provide all the facilities on time with full safety measures. These companies all taking updates via telephonic or internet medium to ensure all the required demands.
All these efforts of a pharma franchise company help can help the government to overcome the COVID-19 crisis.
There are many leading pharma franchise companies that are active in this time of need and the pharma franchise world is one of those, which is working day and night to fulfill the demands of distributors and consumers. To know more, you can click here.