Welcome to Fitwel Pharma
Why Is Pharma Monopoly A Necessity? Marketing and business is the pharma industry is not bound by the traditional marketing strategies and also cannot be ensured to follow those rules. The pharma marketing world is a lot different from any other marketing. Even the business that happens in the pharma world doesn't follow the competitive market structure which is quite natural in any field.
Due to the restrictions that come from the features of the products being marketed and sold, there are a few problems in creating a competitive environment in the pharma marketing environment. The drugs that are sold have to be 100% precise and sure to work in the way that is expected. A quality assurance of 100% is a necessity. And most of the pharma business runs on the trust they develop on the distributor and pharmaceutical company.
Pharma monopoly guarantees a reliability on a single distributor. The distributor has a complete control over all the pharma needs of a particular area. Any company that wishes to spread its products through that area, has to contact and work only through that particular distributor. This is one kind of a pharma monopoly at the distributor level which assurances the control area-wise to help in removing redundant marketing of products. Also the distributor will be the only person responsible for anything and everything that happens in the pharma markets of that area making the dealings to converge to a single person or a single distribution firm.
On another level, pharma monopoly can also be a control over a particular drug type by the manufacturing company. A particular company might patent the rights to provide a specific composition of drugs.
This cannot be again re-manufactured or made generic by other manufacturing companies. This kind of a pharma monopoly ensures a specific company to become the sole source of one kind of drugs. The brand becomes a synonym with the drug. Advantages of this pharma monopoly come from the fact that, the complete market demand for that drug has to be met by the company helping with a drift in the profits. Problems also can arise if there is not enough R&D support to update the drug features to make it more user friendly.
Another level of pharma monopoly with the doctors can be achieved and can prove to be a healthy way to market capture. Distributors and pharma companies can tieup with the doctor by offering some percentage of sale to prescribe only the drugs of that specific company.
This can be a good sign in spreading the markets and can be beneficial if doctors of specific area are under the control of the company. This pharma monopoly, though not very healthy can be a good marketing strategy if implemented properly. In this way, pharma monopoly is a necessity of the pharma markets.
Contact-Us 511, Block-F, Titanium City Centre, Near Sachin Tower, 100 ft Ring Road,Anandnagar, Satellite, Ahmedabad- 380015 Gujarat, India Call us : +91 9033028080 ,+91 8469228080 Telefax : 079-40080800 Email : mktg@fitwelpharma.com