On a global scale, the pharmaceutical sector in India holds the third position in terms of capacity. This standing has attracted the attention of both domestic and international players in the pharmaceutical industry.
Over the past few decades, the government has introduced several initiatives to encourage the establishment and growth of pharmaceutical companies within the country. Amendments to the Patents Act of 1970 have been implemented, allowing for increased financial aid, subsidies, and other forms of support for the pharmaceutical and biotech sectors.
To entice fundamentally strong pharmaceutical companies, full foreign direct investment has been permitted in various sectors, including India’s biotechnology sector. As the pharmaceutical sector continues to evolve, it is expected to experience substantial growth in the future. Key importers of Indian pharmaceutical products include the USA, the UK, Australia, Brazil, and Germany.
Therefore, venturing into the pharmaceutical industry remains a profitable endeavor, whether through launching a manufacturing unit, establishing a distributorship, or creating a PCD (Propaganda Cum Distribution) pharmaceutical company.
Requirements for Company Registration:
To register a pharmaceutical company, certain prerequisites must be met:
Minimum Number of Directors:
A minimum number of directors are required, with the specific number varying based on the type of company. While foreign nationals can serve as directors, at least one director must be an Indian citizen.
Director Identification Number (DIN):
Directors must obtain a Director Identification Number (DIN).
Digital Signature Certificate (DSC):
Directors and shareholders must possess a Digital Signature Certificate (DSC).
Registered Office Address:
The company must have a registered office address.
Sector Experience:
The company owner or at least one partner/director is expected to have experience in the pharmaceutical sector. Additionally, at least one director or member should be a registered pharmacist under the State Pharmacy Council.
Company Registration Process:
The process of registering a pharmaceutical company involves several steps:
Choose a Company Name:
Select a name that complies with the provisions of the Companies Act, 2013.
File the Registration Application:
Submit the company registration application.
Obtain DIN or DPIN:
Obtain the Director Identification Number (DIN) or Designated Partner Identification Number (DPIN) for directors or designated partners.
File the Registration Application with ROC:
File the company registration application with the Registrar of Companies (ROC) on the Ministry of Corporate Affairs (MCA) website, ensuring valid documents and payment of the required fee.
Required Documentation:
Provide necessary documents, including PAN cards of all shareholders and directors, ID and address proof of shareholders and directors, proof of registered office address, and the company’s Articles of Association (AOA) and Memorandum of Association (MOA).
After completing the necessary documentation, subsequent steps include creating a product list for a PCD pharmaceutical company.
Licenses and Registrations:
After obtaining company registration, a pharmaceutical company must apply for various licenses and registrations, including:
Drug License:
Companies involved in drug manufacturing or selling medicines in bulk require a drug manufacturing license or a wholesale drug license.
Goods and Service Tax (GST) Registration:
Obtain Goods and Service Tax (GST) registration.
FSSAI and Trademark Registration:
Apply for FSSAI (Food Safety and Standards Authority of India) and trademark registration.
These steps are essential prerequisites for opening a pcd franchise company in Gujrat, ensuring compliance with regulatory parameters.
