Difference between PCD, Generic and Ethical Pharma Sectors

If you are planning to launch a business in the pharma sector, it is somehow difficult to decide about the niche. Since this factor is multifaceted where each facet is equally existing as the other. You are likely to get good returns if you invest wisely and move forward systematically.

In case you are confused about the three streams — PCD, ethical pharma and genetic medicines, then this article will give you the required information concisely and precisely.

Propaganda — Cum — Distribution or PCD

PCD is a type of sector in which a pharma company signs a franchise agreement with another individual or group of people. The franchise holder gets the power to use the domain name of their associate, marketing distribution rights etc.

If you are planning to set up a business in this sector, you can start with a low amount. The marketing and promotional costs will be provided by the pharma company (such as Venus Remedies). It can be a good option for young entrepreneurs. A plus point of this sector is that you need not establish premises or hire multiple staff for executing your work.

Generic sector

Here the pharma companies directly sell the generic medicines to the retailers through their distribution channel. This process is facilitated by the sales representatives. The quality and use of these generic products are similar to their equivalent branded drugs.

However, the cost of generic medicine is comparatively lower than the branded products. They look different in appearance and packaging. For instance, the generic medicines for lower respiratory tract infections will look different than their equivalent branded drugs.

Ethical Pharma

In the Ethical Pharma sector, the medicines are marketed by the company with the help of several market representatives. These representatives are assigned the job of promoting and sharing scientific information with doctors about the product.

For instance, the representatives will tell the doctors that Ceftazidime and Tobramycin newly launched medicines to treat various bacterial infections. The doctors will prescribe these products to the patients and they will be sold by the retail chemists.

Bottom line

Ethical pharma sector is the oldest model that has been found quite useful. It believes in ethical means where the products are sold purely based on their merits. No unethical practices are allowed in this sector. However, it is up to you which sector you choose as per your proficiency and preferences.