Features That The Best PCD Pharma Companies Share
The Indian pharmaceutical sector today is a hotchpotch of different names, scales and ideologies. Some of the bigger names have slowly, but steadily made a global name for themselves. Not only have some of these become household names in India, they are now poised to be counted among the globally well-established companies.
So, what makes one the best PCD pharma company? Like all leaders, there are some characteris-tics that all these companies share. It is these characterizes that has allowed them to lead and dominate the domestic market. It is also these very features that will slowly ensure their global rise. Some of these features are:
So, what makes one the best PCD pharma company? Like all leaders, there are some characteris-tics that all these companies share. It is these characterizes that has allowed them to lead and dominate the domestic market. It is also these very features that will slowly ensure their global rise. Some of these features are:
Commitment To Research
No pharmaceutical company can thrive without a solid backing of its R&D division. This has been one of the drawbacks of the Indian pharma sector. The reason for this is the lack of any certainty and the high cost of failure. Fortunately the best of the industry have committed themselves to a focused R&D into new medicines and cure. As newer epidemics break out across the globe, a breakthrough medicine is what the market is looking for. A good R&D division also distinguishes a PCD company from the numerous smaller entities that churn up generic drugs.
Strict Quality Control
Many of the standards in the pharma sector are voluntary. But the best pharma companies will have almost the entire gamut of certification - from compliance with ISO, FSSAI, WHO and GMP standards to the requisite DCGI approvals. But what makes them stand out is the strict commitment to quality control.
The best PCD pharma companies have a foolproof testing method that relies on scrupulous ad-herence to standards. They follow internationally laid down rules and regulations, conducting regular examinations as well as random sample testing. The commitment to quality control also goes across all divisions - from ensuring hygienic premises, manufacturing and packing methods to its distribution network.
Regular Audits
The Indian business sector has been rocked by scams, bankruptcies and shocking closing down of a number of companies. In this scenario established companies have tightened their belts and committed themselves to cleaner business practices. Many entrepreneurs are now consciously moving away from any hint of a scandal, establishing above-board and transparent practices. At the very least, each company is now committed to regular audits and scrutiny of their financial spreadsheets.
Wide Distribution Network
Distribution and network is one of the essentials of pharma companies. In the last decade, Indian pharma companies have established a wide network across various nations and continents. From an impressive network in Asian and African countries, these companies are now making inroads in US and European countries. Despite stiff competition and roadblocks, the progress has been im-pressive. Within India too the distribution network of various pharma companies is now pretty well established. Today you can get branded and generic drugs in small towns and cities as well. How-ever, there is still much left to be done in the rural sector.
Commitment To A Vision
While most businesses see the perusal of profit as their sole aim, the companies that really make it big realise that success lies in a greater vision, something bigger than profits that the company and its employees must work for. This could be commitment to better healthcare or the spread of Ayurveda or a vision to find cure for fatal diseases. This vision distinguishes them from the rat race, gives them a focus, drive and direction.
Commitment To Better HR Policies
A pharma company is ultimately as good as its employees. As businesses move towards a more employee-centric work environment, pharma companies have not been left behind. Many of the top players have established essential policies like equal employment opportunity policies, medical benefits, overtime compensation, vacation & leave policies, performance evaluation and timely in-centives.
Nurturing Partnerships
No business can run in isolation, no matter how big it is. In this age of increasing specialisation even a top PCD company may need a number of business associations with specialists and specialist firms, such as marketing research firms, drug research labs, SEO/SMO marketing agencies and so on. Top companies see these as true partnerships, taking along their associates as a part of their own growth.
Conclusion
India's best PCD pharma companies are poised to create a global niche for themselves. They have proven themselves in the extremely competitive Indian market. As they race ahead to create a bigger global name, their essential qualities will keep them ahead of the pack.
No pharmaceutical company can thrive without a solid backing of its R&D division. This has been one of the drawbacks of the Indian pharma sector. The reason for this is the lack of any certainty and the high cost of failure. Fortunately the best of the industry have committed themselves to a focused R&D into new medicines and cure. As newer epidemics break out across the globe, a breakthrough medicine is what the market is looking for. A good R&D division also distinguishes a PCD company from the numerous smaller entities that churn up generic drugs.
Strict Quality Control
Many of the standards in the pharma sector are voluntary. But the best pharma companies will have almost the entire gamut of certification - from compliance with ISO, FSSAI, WHO and GMP standards to the requisite DCGI approvals. But what makes them stand out is the strict commitment to quality control.
The best PCD pharma companies have a foolproof testing method that relies on scrupulous ad-herence to standards. They follow internationally laid down rules and regulations, conducting regular examinations as well as random sample testing. The commitment to quality control also goes across all divisions - from ensuring hygienic premises, manufacturing and packing methods to its distribution network.
Regular Audits
The Indian business sector has been rocked by scams, bankruptcies and shocking closing down of a number of companies. In this scenario established companies have tightened their belts and committed themselves to cleaner business practices. Many entrepreneurs are now consciously moving away from any hint of a scandal, establishing above-board and transparent practices. At the very least, each company is now committed to regular audits and scrutiny of their financial spreadsheets.
Wide Distribution Network
Distribution and network is one of the essentials of pharma companies. In the last decade, Indian pharma companies have established a wide network across various nations and continents. From an impressive network in Asian and African countries, these companies are now making inroads in US and European countries. Despite stiff competition and roadblocks, the progress has been im-pressive. Within India too the distribution network of various pharma companies is now pretty well established. Today you can get branded and generic drugs in small towns and cities as well. How-ever, there is still much left to be done in the rural sector.
Commitment To A Vision
While most businesses see the perusal of profit as their sole aim, the companies that really make it big realise that success lies in a greater vision, something bigger than profits that the company and its employees must work for. This could be commitment to better healthcare or the spread of Ayurveda or a vision to find cure for fatal diseases. This vision distinguishes them from the rat race, gives them a focus, drive and direction.
Commitment To Better HR Policies
A pharma company is ultimately as good as its employees. As businesses move towards a more employee-centric work environment, pharma companies have not been left behind. Many of the top players have established essential policies like equal employment opportunity policies, medical benefits, overtime compensation, vacation & leave policies, performance evaluation and timely in-centives.
Nurturing Partnerships
No business can run in isolation, no matter how big it is. In this age of increasing specialisation even a top PCD company may need a number of business associations with specialists and specialist firms, such as marketing research firms, drug research labs, SEO/SMO marketing agencies and so on. Top companies see these as true partnerships, taking along their associates as a part of their own growth.
Conclusion
India's best PCD pharma companies are poised to create a global niche for themselves. They have proven themselves in the extremely competitive Indian market. As they race ahead to create a bigger global name, their essential qualities will keep them ahead of the pack.
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