Third Party Pharma Manufacturing
Why collaborate with third party pharma manufacturing companies?
Do you want to launch your own company by making limited investments? If you want to open a brand in the industry of cosmetics, nutraceuticals, and herbal products, you are at the right place! In this blog, we are going to share the benefits of collaborating with third party pharma manufacturing companies. When you collaborate with ideal manufacturing companies, you can expect easy outsourcing activity with transparent and flexible operations.
What is third party pharma manufacturing?
Pharma companies are hiring 3rd-party manufacturing units to manufacture bulk pharma products. To collaborate with the 3rd party manufacturing company, you need to check whether they have the following set of documents or not:
• Company’s profile
• Branding
• Drug license
• Manufacturing document along with license
• TIN number
• GST Number
Why the demand for pharma products in India is rising?
India has more than 2000 pharma manufacturing units certified by WHO and GMP. The pharma industry of India is expected to rise with a CAGR rate of 17% in the upcoming next 5 years. There are plenty of forces that are behind the rising demand for pharma products & third party pharma manufacturing.
- The increasing number of illnesses & diseases like cardiovascular disease, respiratory issues, etc.
- The growing economy & population with growth in health infrastructure
- Improvement in disposal income
- Rising demand for quality pharma products and supplements
The demand for pharma medicine third party manufacturing is always high. To start manufacturing from 3rd party requires specific documents mentioned above. The complete process of collaboration with pharma manufacturing third party companies is seamless and quick.
What qualities should you look for when joining hands with any 3rd party manufacturing company?
- International quality standards
- Stringent testing practices
- Low capital investment
- Range of design & packaging
The manufacturing pharma company you choose should meet international quality standards. The company should be WHO GMP certified and guarantee the customers offer the best possible quality.
The pharma manufacturing product company should test their products after manufacturing and before releasing them in the market. They should follow strong testing approaches to ensure quality.
Being a third-party manufacturing company of pharma products, they must keep their order quantity minimal. The capital investment should be low, and the output you expect should be high.
Always choose a company that offers an in-house designing and packaging team who are responsible for assisting the clients in choosing the right design & packaging options based on their budget and need.
The Indian 3rd party pharma manufacturing company upholds a strong commitment to quality assurance. The company should employ a range of effective strategies to ensure the consistent delivery of products. They ensure the delivery of high-quality products at affordable prices.
Pharmavends, the biggest b2b pharma marketplace in India is offering list of 1000+ pharmaceutical medicine third party manufacturing companies under one roof. All the listing pharma companies are WHO-GMP-certified by the Government bodies. The team of pharmacists strictly follows good manufacturing practices. The companies offer services that include analytical development, formulation development, clinical trial supplies, and multiple dosage forms.
