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How to Open Generic Medicine Store?Benefits,Earning Details

Updated On : 03-Mar-2024

Hello friends, you all know that in today's time it has become difficult to live with any medicine, we go to the doctor to get the treatment of the smallest disease immediately and the doctor prescribes the medicine after buying it from the medical. By taking time, it gives quick relief from the disease. In today's time, the demand for medical stores is increasing, even today people like to take generic medicine, in such a situation people are running towards generic medicine because no side effect has been seen so far. Today, through this post, we will talk in detail about what is generic medicine, how to open a generic medical store, and what is needed for medical, etc., if you are thinking of opening a generic medical store then you Read this post carefully till the end.

What is generic medicine?

A generic drug is a drug that is manufactured and distributed without a patent, its formulation may be patented, but its active ingredient is not patented because it is as potent as a branded drug. It is as effective as the branded medicine. In generic medicines, dosage, side effects and active ingredients are similar to branded medicines, the demand for generic medicine is increasing because it is cheaper and effective is similar to branded medicine.

What is a generic medical store

Just as the place of getting branded medicines is medical, similarly the place of getting generic medicines is also a medical store, generic medicine is a medicine without brand which is safe in formula and in all ways, the way it is consumed in case of ill study. Recovery is quicker with branded drugs, similarly to generic drugs. Medicines are available in generic medical stores at a cheaper price than the common medicine, and are as helpful in the treatment of the patient as the branded or patented medicine. Also, any medical store keeps generic medicine as well as branded medicine, but there is a difference of 30-40 percent in the price of both. Generic medicine is available in many medicals, its particular is simply medical where generic medicine is kept.

How to open generic medical store

If you are thinking of opening a generic medical store, then you have to keep some things in mind like-

• First of all, it is very important for you to have the necessary documents to open a generic medical store, only then you can open a generic medical store.
• To open a generic medical store, you have to go to the official website of the Government of India, janaushadhi.gov.in and download the form.
• Take a print out of the form and read it carefully and then fill the form in clear letters.
• Paste the required documents and demand draft copy along with the form.
• After the form is filled, he has to send the application through the post office in the name of General Manager of Bureau of Public Sector Undertaking of India (BPPI).
• If you fill the online form, then there is a provision for that, fill all the details, after that scan the required document and upload it.
• As soon as your application comes to the pharmaceutical department, after that it is verified, if all things are correct, you get a license to open a generic medical store.
• The license is obtained within 15 to 30 days of applying.

Documents required to open a generic medical store:

• It is necessary to have a degree of B.Pharma or M.Pharma.
• Must have Aadhar card and Voter ID card.
• If the shop is on paper or on rent, then the rent must be there.
• Must have a drug license.
• There should not be any kind of loan in the bank.
• The shop should be BPPI standard compliant.
• The papers of the Fire Department and the Security Council should be there.

Government's help in opening new generic medical stores:

If you are thinking of doing business and you have a degree related to pharmacist, then you can open a generic medical store, for this the government will also help you. If your shop is in 120 square feet then government will provide you 900 medicines when you put generic medical store, central government helps Rs 2.5 lakh for generic medical store as well as there is a margin of 20-30 percent in medicines, And on selling medicines separately, 15 percent incentive is available, as well as the bank gives business loans, with the help of this you can open a generic medical store.

Major generic medicine and its identification:

In today's time, the demand for various generic drugs is high, for the treatment of patients, the following medicines are prescribed by doctors. They are CTZ, Pirastat 100, Merisulide, Omesec 20, Omiprazole, Lignocaine, Bupivaxin, Acetyl Salicylic Acid Diclofenac, Ibuprofen, Paracetamol, Chloroquine, Amlodipine, atenolol, losartan, metformin, and progesterone etc. are medicines. With its use, various diseases are removed in a moment and it is available up to 40 percent less than branded medicine, you can go to any medical store near you and ask for generic medicine, you can easily identify generic medicine. You can do that the name of any medicine is written in uppercase letters and the name of the brand is written in small numbers, from that you can know that it is a generic medicine.

Benefits of generic medicine:

• Generic medicine is available at cheaper rates than branded medicine.
• Generic medicine has been brought keeping in mind the health facility of common man, so that he can take good medicine for his treatment in less money.
• Generic medicine comes directly from the company to the retailer so it is cheaper and closer to the reach of common man.
• The standard of generic medicine is similar to that of a branded medicine because it is made according to international standards and generic medicine has the same name all over the world.
• Generic medicine is cheap because it is not promoted and it is not easily known in which medical store it will be available, so you go to any medical store and ask about generic medicine while taking medicine there.
• The effect, dosage and side effects of generic drugs are similar to those of branded drugs, and its rate is determined by the government.

How to promote your generic medical store

Although the price of generic medicine is low because there is no publicity for it, the medicine comes directly from the pharmaceutical company to the medical store, but if you want the benefits of the people, then you can promote your medical store for that. For this, you can take the help of social media, you can give an ad in the newspaper that generic medicine is available in our medical store and thirdly you can put up hoardings in the medical store in the Jan Aushadhi drug center etc. You can promote your generic medical store. can do.

Meaning of generic medicine in India:

Generic medicine is used to provide medical facilities at affordable prices in rural areas. For rural people to take advantage of the medical facilities available in the cities, there is a need to connect the village with the city. In today's time, under telemedicine, work is being done to reach medicine to the rural people and generic medicines are made available to them.

What is the difference between generic and ethical branded medicine?

All pharmaceutical companies make both generic and ethical branded medicines, the composition of both medicines is the same, as well as both do the same work. The only difference between the two is branding and marketing, the rest both are the same, the formula of both is the same, both work in the same body.

Who can open Generic Medical

There is no need to do any separate degree to open generic medical, if you have drug license then you can open generic medical store, if you do not have drug license then you have diploma in pharmacy, or B. Pharma or M.Pharma etc. You should have a degree, then only you can apply for the license and open a generic medical store.

How is the quality of generic medicine:

Generic medicine is similar to ethical branded medicine because the drug is made keeping in mind the international standard, the license under which generic medicine is made uses only the formula, hence it has only the cost of manufacturing, hence it is cheaper It happens, everyone gets basic medicine, because of this, its manufacture is the same all over the world and the name of generic medicine is also the same in all countries, according to the rules of the World Health Organization, the manufacturing and distribution of generic medicine is done by the government governed in the country. conforms.

Cost of opening a generic medical store:

If you want to open generic medical then you can take advantage of the government's scheme as well as you can invest about 5 lakh rupees in the beginning, you need to be aware of the market, if the sales in the market will be less then you You will go into loss, so you are opening a small medical store in the beginning, then you have to invest around 3-4 lakhs and if you want to open a big generic medical store then you will have to invest 10-15 lakhs.

Earning in generic medical store:

In today's time, generic medicine comes in many medical stores, there is only generic medical shop in particular, in such a situation, the earning in generic medical store is less than ethical brand medical store because generic medicine is cheaper and margin is less. However, in today's time people want generic medicine because everyone knows that ethical branded and generic medicine are almost the same, in such a situation, you can earn 20-30 percent by selling generic medicine.

Open Generic Medicine Store in India.Know Cost of opening a generic medical store and profit from this business.Generic Medicine business

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