Third party manufacturing is a business model of pharma that offers numerous growth opportunities to the pharma companies working in the Indian pharmaceutical market. The pharma companies source their manufacturing help from third party manufacturers. This business model undoubtedly offers the greatest help to the pharma companies working in the Indian pharmaceutical market. The business model is preferred and trusted by everyone. However, it still demands better insight from the pharma companies. In this blog, we will explain the process of outsourcing your pharmaceutical manufacturing order to third party manufacturers and the documents required to outsource your pharmaceutical manufacturing order to third party manufacturers.
What is third party manufacturing?
This is the most helpful business model of the Indian pharmaceutical industry, under this model a pharma company outsources its third party manufacturing pharma orders to third party manufacturers. These manufacturers manufacture pharmaceuticals on behalf of pharma companies. Moreover, they also take care of pharmaceutical manufacturing risks and responsibilities on behalf of pharma companies, who outsource their manufacturing order to them.
What advantages does it offer to pharma companies?
The third party manufacturers offer various advantages to the pharma companies, who outsource their pharmaceutical manufacturing orders to them. These advantages are mentioned below:-
- The third party manufacturers are the experts in manufacturing pharmaceutical goods. They have specially built manufacturing plants with modern machinery and technology to boost the production process of pharmaceutical goods.
- The manufacturing firms are also specialized and have years of experience in manufacturing pharmaceutical goods. They are expert in offering quality assurance on the pharmaceutical goods they manufacture for the pharma companies.
- The manufacturing firms are also experts in saving manufacturing costs on pharmaceutical goods for the pharmaceutical companies. So they can utilize this cost for other core competencies of the business.
Process of third party pharma manufacturing
- First, to outsource your third party pharma manufacturing it is suggested to finalize your order quantity and composition.
- Once the quantity and composition are decided then the pharma company or individual should raise a quotation for their product.
- Once both parties finalize the quotation, you have to arrange the necessary documentation for outsourcing your pharmaceutical order to the third-party manufacturers.
- After this packaging material for your product should be decided.
- Once the packaging material is approved by the pharma company, who outsourced their order to third party manufacturers. Then, the manufacturers start their manufacturing process.
- After the product is manufactured it is delivered safely by the manufacturers to the pharma company.
Documents required for third party manufacturing pharma
The necessary documents for outsourcing your third party manufacturing order to a Pharma Contract manufacturing company are mentioned below:-
- Drug License
- GST Registration
Third party pharma manufacturing firm in India
Casca Remedies Pvt Ltd is a third party manufacturing company in India. We had our manufacturing plant in Ambala Cantt, Haryana since 1988. We are a WHO-GMP and GLP-certified firm that offers quality-assured and affordable products to our business partners, the pharma companies who outsourced their pharmaceutical manufacturing orders to us get timely delivery of the pharmaceutical products.