The Pharma Franchise Concept is on a roll in India because of the growing popularity of our critical care, cardiac & diabetic pharma products not just within the country but also in the overseas market. The pharma PCD company business model offers many lucrative business opportunities such as pharma franchise, cardiac Diabetic pharma franchise with monopoly, etc and has gained immense prominence as the serving backbone of Indian Pharmaceutical industry. Now, when everything else is tipping the scales in favor of Pharma franchise, it becomes a sovereign duty for the government to design policies that can ensure up rise of an industry that works hard to save lives of people around the world and has put India on the world map of global pharmaceutical leaders of the 21st century.
Relief for Cardiac Diabetic Pharma Franchise Company
As per the new directive, the government aims to revise prices of acute disease medicines in order to make them available to all strata of society starting with the rich at the top of the pyramid all the way down to the poor who stand at the bottom of the pyramid. This will imply easy access to critical care, cardiac and diabetic medicines for those with urgent needs at affordable prices. This is a welcoming news for cardiac diabetic pharma franchise companies and critical care pharma franchise companies who up until recently were not able to tap the lower sections of society with their pharma products which are usually priced high because of their medical significance. Well, all that is now bound to change with the new policy which will be seen as a more improved replacement to the current policy and an attempt to elevate the conditions of poor by the government.
Effect of GST on PCD Pharma Franchise Companies for Critical Care products
One of the most debated and controversial move by the government for year 2017-2018 was the implementation of GST. An economy that was already reeling (debatable) from the effects of demonetization in late 2016, spun out of control soon after GST was levied in 2017. Although no effect of tax was detected on the consumer’s end, the business sectors were hit hard which forced the government to impose relaxations to bring relief to those hit the hardest.
Did Pharmaceutical industry gain in any way from this explosive move? Yes. An industry that is marked by heavy competition, price regulations and strict taxes, GST is a relief. Though the full effects of GST cannot be determined at this juncture, there are hopes that the current tax slab of 12% for most medicines including lifesaving medicines such as cardiac medicines, diabetic medicines and critical care medicines would not make much difference when compared to their prior tax structure.
The Indian Government is trying to help pharma companies by pulling them out of tax pits, price controls, etc. by devising fair to play pharma policies that could introduce both the consumer and pharma supplier with win-win propositions. What remains to see is how they each approach the changes.