If you compare the pharmaceutical sector of India globally, then it ranks third globally in terms of capacity. That is the reason it is bolstered by many domestic and international pharmaceutical players.
In recent decades, the government has also introduced a number of initiatives aimed at motivating the establishment and growth of pharmaceutical companies in India.
Changes have been made to the Patents Act of 1970 so that more financial aid, subsidies, and other support can be extended to the pharmaceutical and biotech industries.
It will attract pharma companies that are fundamentally strong. Also, full foreign direct investment has been permitted in India’s biotechnology sector, among others.
The pharma sector has evolved, and it is expected to grow with greater momentum in the future. The major importers of Indian pharma products are the USA, the UK, Australia, Brazil, Germany, and so on.
Therefore, opening a pharma company is always profitable. Whether you launch a manufacturing unit, open a distributorship, or a pcd pharma company.
Requirements to register your company
You will need at least a minimum number of directors. The number varies based on the type is concerned. It is possible to have foreign nationals be directors, but at least one director should be an Indian citizen.
Directors need to obtain a Director Identification Number (DIN).
Directors and shareholders must have a Digital Signature Certificate (DSC).
The company must have a registered office address.
The company owner or at least one partner/director is supposed to be experienced in the pharmaceutical sector. At least one director or member should be a registered pharmacist under the State Pharmacy Council.
The process of registration
How to Register A Company in India?
You have to choose the name of the company that complies with the Companies Act, 2013 provisions and its rules.
You will have to file the company registration application.
You will have to obtain the Director Identification Number (DIN) or Designated Partner Identification Number (DPIN) for the directors or designated partners.
It is important to file the company registration application with the concerned ROC on the MCA website and you need to have valid documents and then you need to pay the fee.
The documents Required to Register a Pharma Company are PAN cards of all shareholders and director, ID and address proof of shareholders and directors, and proof of registered office address. Other important documents are the company AOA and MOA.
Once all required documentation is done, you can proceed to other steps like making a pcd pharma company product list.
Licenses
A pharmaceutical company also needs to apply for various licenses and registrations after obtaining the company registration, which is as follows:
Drug license
Pharma companies that make drugs of any type are required to obtain a drug manufacturing license. The companies that sell medicines in bulk should have a wholesale drug license.
Goods and Service Tax (GST) registration
FSSAI and Trademark Registration
These are the steps that need to be followed before opening a pharma company in India. They are required parameters.
