What is Pharma PCD, Meaning and Full Form?
What is Pharma PCD, Meaning and Full Form?
To know the meaning of PCD or PCD pharma in Pharmaceuticals industry, let us start by first understanding the term “franchise”.
Instead of establishing an independent business from scratch, many individuals prefer to take a franchise from an already established company. The term franchise is relevant to all businesses and when we use it in the context of pharma, it becomes Pharma Franchise or PCD Franchise. The term PCD Franchise is also referred to as PCD Pharma Franchise. Though “pharma franchise” and “PCD pharma franchise” are often used interchangeably, they are not the same. A few differences exist between the two concepts that do not meet the eye initially. We shall dwell on those differences in our next blog.
Full Form of PCD Pharma
PCD stands for Propaganda cum Distribution. PCD pharma is a key business jargon widely used across the Indian pharma industry. The PCD pharma franchise or pharma PCD franchise is used to define the business model and agreement that exists between a PCD franchise company and a PCD pharma distributor. In this business model, a PCD pharma company grants marketing and distribution rights to a pharma distributor in his area of interest. The PCD rights enable the pharma distributor(s) to carry out commercial activities on behalf of the PCD franchise company by using the company’s proprietary information such as trademark, brand, products, monopoly rights, etc. The commercial activities referred to above include promotion, distribution, and sale of the company’s pharma products to chemists, doctors, hospitals, etc.
All the relevant information concerning the alliance between the PCD pharma company and pharma distributor is clearly defined in a pharma PCD franchise agreement. Both parties work as per the agreement which contains mutually agreed terms and conditions.
Players of the Pharma PCD Franchise Model
The 2 active participants or parties of the pharma PCD franchise model are as follows.
1. PCD franchise company/Pharma PCD Company/PCD Pharma Franchise Company
A PCD pharma company suppliers pharma products to its pharma distributors for distribution and sale to doctors, chemists, hospitals, etc in the distributor’s geographical location. The company may choose to give monopoly rights to a distributor in his area depending upon the size and competition in the area.
2. Pharma Distributor/Pharma Franchise Owner/Pharma Franchisee
An individual or a group of individuals that gets the PCD rights from the PCD franchise company is called the pharma distributor or the pharma franchisee or pharma franchise partner.
Benefits of PCD Pharma Franchise Business
A pharma PCD franchise business offers maximum benefits to both parties involved.
1. Benefits to pharma PCD companies in India
A pharma PCD company can achieve monumental brand recognition in both the Indian and overseas market through the pharma franchise model. Pharma PCD franchise helps with deeper market penetration, wider product reach, and much more.
2. Benefits to the Pharma Franchise Partner
A pharma franchise partner can enjoy the following benefits by investing in a pharma PCD franchise.
- The business requires less investment; hence the risk is low.
- The PCD franchise company bears the promotional cost, hence the pharma distributor gets all marketing material for free.
- The returns on investment are good.
- The franchise partner is the boss of his PCD franchise and can manage it on his own terms.
- There are no sales targets.
- You could work near your home in the comfort of your own city.
- Many pharma PCD companies in India give monopoly rights to the pharma franchise in his/her area of operation.
Career Options in the PCD Pharma Franchise Business
If you are someone who is looking to establish his career in the pharma sector, then investing in a PCD pharma franchise will offer the right pace and direction to your career. The domain offers ample choices in terms of specialization making it a lucrative business venture. You could start a pharma PCD franchise in any of the following fields.
- Hospital Pharmacy
- Standalone pharmacy
- OTC medicine Distribution
- Ayurvedic Medicine Distribution
- Township Pharmacy
- Pharma Drug Distribution
- Chain Pharmacy
Not to forget, if you have surplus capital, you could even start your own PCD franchise company.
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