What is the Importance of drug license for business? Well, it is a statutory and mandatory requirement if you want to run a business of selling or distributing drugs in India. And if you want to run a wholesale business, then you need to obtain a Wholesale Drug License.
A reputed company like Fossil Remedies always operates under the law of the land. Hence, it runs a Pharmaceutical wholesale business with all required licenses.
According to the Drugs and Cosmetics Act,1940, it is mentioned in Form 20B or 21B to grant permission to sell and distribute drugs.
If you check the Drugs and Cosmetics Rules provisions, then it says that wholesalers need to compulsorily obtain a wholesale drug license to sell, exhibit, stock, or distribute drugs in India. Wholesale drug licenses can be issued to individuals for products like drugs and biologicals.
It assures the retailers and customers that the product sold by the wholesaler is safe and doesn’t have any health risks.
A wholesale drug license will open various opportunities for wholesalers.
Let’s understand the various Wholesale drug license benefits when you acquire it.
Benefits of the Wholesale Drug License
It executed drug related activities
If you own a registered pharmaceutical company, then you need to remain constantly updated about what is happening around you. Not just that, you need to comply with the existing regulations as well. Don’t think this is a tedious task. You will get great benefits from that.
A wholesale drug license will help your pharmaceutical company maintain a seamless supply chain. Not only that, but it will allow you to continue the business without difficulty and legal complexities.
It improves drug management and efficacy
When you comply with the rules laid down by the government authorities, it has a positive impact on your pharmaceutical company. You will see improvement in the efficacy of business and drug management.
Aids to drug hygiene
Manufacturing drugs need very high precision in hygiene. This is because they get contaminated very quickly.
The Central Drugs Standard Control Organization or CDSCO gives guidelines under the Drugs & Cosmetic Act 1940. You are supposed to follow these guidelines as a wholesaler to maintain the best possible hygiene of your products.
When you obtain a valid wholesale drug license, you ensure that the drugs are stored properly. Also, you reduce the possibility of getting noticed by government authorities because of the changes in drug procurement procedures.
You build good relations with retailers
A wholesale drug license ensures that you as a license holder follow every possible measure given by the government authorities.
This brings transparency to the business processes and practices. Drug retailers are always concerned about the quality, price, and storage of the drugs.
Therefore, a wholesale drug license ensures that your retailers do not have to worry about these attributes.
It increases market exposure
When you obtain a wholesale drug license, it not only helps you to sell, exhibit, stock, or distribute drugs properly but also it increases your market penetration.
With increased visibility, you can explore new opportunities to expand your business.
