Third Party Manufacturing Quality & Packaging Available

by Tyler P. A Passionate Blogger - Entertainment If you want to outsource your pharma company services, then you may want to read the following article.

The concept of third party manufacturing in the pharmaceutical industry has turned out to be one of the key factors in the current day. It has become one of the easiest ways for the business houses to expand if they are interested to start a pharma marketing company or extend their manufacturing business by manufacturing other companies’ products along with their home products. To make it even more easy to understand, it is the process of outsourcing the manufacture of pharmaceutical products to some other manufacturing unit, run by some other business house, instead of producing it in-house. And this is one of the most modern concepts in the present day business scenario. Even large multinational business houses get their products outsourced to some other company to have them manufactured.

What is it?

Let us deep dive into the world of third party manufacturing and understand their modus operandi. When a firm or a company (marketing company or manufacturing firm), let’s say Party X, gets into an agreement with another manufacturing firm, let’s say, Party Y and Party Y agrees to manufacture the generic or patent as well as proprietary products of Party X in their own manufacturing unit, on the basis of Party X’s wholesale license, it is called third party manufacturing. A huge chunk of pharma companies are engaged in such a model to have their products manufactured. And it is one of the most successful methods ever followed.

Why the success?

Third party manufacturing pharma companies occupy a dominant role in the modern day pharmaceutical industry. One of the most accepted reasons for such success is the simplicity of operation and easy availability of finished products. You don’t need a lot of investment if you are interested to have your products ready. Even people or marketing companies with no production units can have their products manufactured and take it to the market. On the flip side, this process also allows the manufacturing units to have enough work and recover the money they had invested during setting up their production system. Starting and running a pharmaceutical production unit and also managing the daily operation of marketing and sales is a very tedious task. Hence, this new model has eased out the process to a great extent and have made lives of business houses much more simple.

Cost Involved:

The cost calculation of this third party manufacturing model is slightly different than having the production done in house. The cost here, is primarily dependent on the raw materials (active ingredient/s and excipients cost), primary packaging cost (box, foil, label), secondary packaging cost (tape, shipper, PVC), manufacturing process cost, quality control cost, transportation cost, labor charges, applicable taxes and finally profit margins.

The time to manufacture:

Most of the third party manufacturing pharma companies are extremely prompt in terms of their timelines and deliveries. They know they are in cut throat competition and hence they prepare the machineries, labor and skillset in a way that they get an edge over their competitors. On an average, manufacturing of a completely new product takes 30 to 45 days while the manufacturing of a repetitive product takes as low as 15-25 days. However, this is to be kept in mind that finally the manufacture duration varies from firm to firm and contract to contract. In a more generic way, if you need to know couple of major milestones while thinking of a third party manufacturing, keep in mind the four main pillars of the entire process: Product Approval, Packing Material, Manufacturing Process and finally Transport.

Conclusion:

Hence as noticed, third party manufacturing is one of the path breaking innovations in the pharmaceutical industry. It has simplified the process of production, eased out the method of operation as well has turned out beneficial for the market by supplying products to the market.

If you are looking for a third party pharma manufacturing company, the author recommends Vibcare Pharma.

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Created on Sep 12th 2017 06:19. Viewed 579 times.

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