A Pharmaceutical Contract Manufacturing company is a Contract Manufacturing Organization (CMO) specifically for pharmaceutical products. A pharmaceutical manufacturing company in India may want to outsource their pharma manufacturing on a contract basis to well-equipped drug manufacturing companies. These companies also provide raw materials, machinery and skilled manpower to manufacture their product. Third party manufacturing companies take pre-formulated drugs and manufacture it.
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These contract manufacturing companies spend their time and resources developing, formulating and testing the drugs while the drug company is able to focus on other business objectives. This is due to the time-consuming, difficult and resource heavy tasks associated to manufacturing drugs. Due to the rise in the number of third-party manufacturing companies in India, it can be difficult to ensure the best ways to choose among the contract manufacturing companies in India. Here are top three things to remember before hiring a pharmaceutical contract manufacturer –
One of the most important things to remember is to go through the third party manufacturing company’s track record with regards to compliance to drug administrators of a country or a region. The quality and compliance set by regulatory bodies such as The Central Drugs Standard Control Organization (CDSCO) in India or the Food and Drug Administration in the United States of America, are put forward with strict vigilance. Any lapse in judgement should be considered while choosing among the contract manufacturing companies. You must also observe their inspection rates and scores to ensure the best quality for your product.
2.How big is the fish?
More product equals to more profit. Although this might not be the case all the time, it is important to consider the size of your order and the capacity of the third-party manufacturing company. Some of the best Indian Pharmaceutical companies have their regular list for certain drug production. The shareholders of the company and other stakeholders might hold this factor accountable if profits are lost due to a side-lined order. The demand for your product might be through the roof but if your third part manufacturer is unable to meet your deadlines, it could mean considerable losses for your company. You must strategize in a way where your order is not side-lined by a bigger fish in the pond.
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3.Can they keep a secret?
This factor can be critical in determining which third party manufacturing pharma company in India gets your order. A confidentiality agreement is important to both parties. Inspect the systems, procedures and agreements carefully before going forward with the order. Steps like a strong electronic security system, employee background and other factors can determine the airtight nature of the pharmaceutical contract manufacturing company. A leak proof system can avoid a lot of trouble for both parties on the long run.
Aries Drugs Pvt. Ltd. Is one of the best Indian contract manufacturing pharmaceutical companies, that can cater to your needs based on your requirements. You can get in touch with us to discuss your needs by dropping us an email or calling us directly.