Drug & Cosmetics
In personal life, health happens to be one of the most crucial aspects. The medical sector offers a lucrative business avenue, which remains outside the influence of economic cycles. In India, pharmacy and healthcare business has undergone a massive growth. Multispeciality and corporate hospitals are also gaining popularity. Entrepreneurs looking forward to make an investment in the healthcare industry may find a great option in medical stores. Even when you have a low capital and space constraints, you can find a lucrative investment avenue here.
Owning a medical store involves a significant responsibility, regardless of its importance. A slight mistake on the part of the owner may prove disastrous for the buyers, Evidently, medical stores need to comply with a number of legal norms. You have to undergo several procedures, before you finally sell the medicines. If you are interested in running a business in cosmetics and drugs, you would require a drug license.
Different types of Drug License
Wholesale drug license
Nobody is entitled to distribute or sell drugs through wholesale, unless he or she obtains the drug license.
Retail Drug License
Nobody is authorized to distribute or sell drugs in case he or she has not obtained a retail drug license. This license has to be obtained from the Drug Inspector.
Manufacturing license for making cosmetics
Nobody is entitled to manufacture drugs for distribution or sale on behalf of other individuals or by himself or herself without a license, that the Drug Inspector issues.
Manufacturing license for developing drugs
Nobody is entitled to manufacture drugs for distribution or sale on behalf of other individuals or by himself or herself without a license
Import license in order to import medical equipment
Import license either refers to the document in Form 10, meant for importing drugs. The ones mentioned in Schedule X are excluded from this list.
Import license in order to import cosmetics and drugs
Import license either refers to the document in Form 10, meant for importing drugs. The ones mentioned in Schedule X are excluded from this list.
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