Difference between PCD, Generic, and Ethical Pharma Sectors? – The pharmaceutical industry is quite large. There are a lot of small enterprises and sectors inside it, which are in major focus. Across all sectors, Pharma Franchise and PCD Pharma Franchise are prominent.
Simultaneously, the pharmaceutical industry is directly linked with the nation’s economic growth, which is an extra factor that boosts the popularity of the pharmaceutical business sector.
Difference Between PCD, Generic, and Ethical Pharma Sectors
It is necessary to distinguish between PCD, generic, and ethical pharma sectors. There is a wide difference between the three here.
1. PCD (Propaganda- Cum- Distribution)
PCD stands for propaganda-less distribution means a type of sector in which a pharma company contracts a franchise agreement with a person or group of people.
The PCD franchise business deals with marketing and distribution rights for products by the parent pharma company.
Under the PCD model, the entrepreneur is required to purchase the franchise rights of a pharma company and start selling their products. They usually interact to physicians and doctors to promote the company’s products.
A person, who wants to start a firm in this field, needs to invest a lesser amount. In addition, marketing and promotional costs will also be provided by the pharma company only.
2. Generic Sector
In this generic pharma sector, generic drugs are manufactured by a pharma company and sold directly to retailers with distribution channels and sales representatives support.
Generic medicines use a similar administration route and simultaneously display the brand name of the products. In addition, they have similar quality and performance levels.
The advantage of being in the generic sector is that generic medicines are priced lower than branded drugs. It is an economically effective and efficient business.
Sometimes the making process can also change, which affects the cost of the drug. The cost of generic medicines is held much lower than that of branded medicines.
3. Ethical Pharma Sector
Ethical pharma is the traditional and most popular part of the pharma industry. Here, all types of medicinal medicines are spread through medical representatives.
Medical representatives share all necessary information with doctors. They aim to convince doctors about the merits of the products over others.
There are many marketing techniques and methods used with the doctor to promote a specific drug range.
PCD, generic, and ethical pharma are all three different types of business practices. However, the general point is that they all belong to the pharma family and have different distribution channels.
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