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How to Start a Pharmaceutical Business

1. Have the funding.

A pharmaceutical business requires millions of dollars to set up. Investors should be petitioned for the funds, and in order to convince them, you should come up with a viable business plan.

2. Get proper licenses and permits.

These are required for drug production and distribution. Investigate your state’s specific regulations.

3. Protect yourself with a patent.

If you are producing new drugs, you need a patent to protect your investment in R&D.

4. Have a premises in mind.

Any business involved in manufacturing needs a set base. This could be either rented, built or bought.

5. Get the right equipment and furniture.

The basic equipment needed will comprise of; RMG, FBD, a blender, shifters, 2 multi mills, a blister packing machine, 2 tablet compression machines and a pan coater (if the tablet will be coated).

6. Hire a qualified staff.

They should have very high credentials based on their position in research, development, testing and manufacturing of the drugs.

7. Have a consistent and feasible marketing plan.

Research the available market and potential competitors, and adopt strategies that reach and mobilize your base.