SERVICES & SUPPORT
Pharmaceutical & Biotechnology Industry has observed significant growth in Contract Research & Manufacturing Services (CRAMS) in recent years.
There are multiple reasons for rapid growth in this sector. In recent years, global outsourcing industry has transformed due to changes in dynamics that includes ; decline in revenues from new drugs, competitive pricing, increase in demands of generics, low-cost location to the center-stage.
India offers significant cost advantages over manufacturing centers located in Europe, North America and other parts of the world, and have globally emerged as one of the most cost-effective alternative coupled with quality manufacturing for global pharmaceutical players. This in turn has favored Indian CRAMS players to achieve high growth trajectory.
The Indian pharmaceutical Industry is thirteenth-largest in terms of value and third-largest in terms of volume, globally. It has established itself as a global manufacturing and research hub. Easy availability of raw material and skilled workforce has resulted in a definite competitive advantage. Recent estimation shows Indian pharmaceutical industry is expected to grow at a rate (CAGR) of 22.4 per cent to touch US$ 55 billion by 2022.
Seatrack International currently and through the Group authorized sales and distribution offices across the world including India, Hungary, China, Korea,Thailand, Turkey, Mexico, Nigeria exports pharmaceutical products to various countries worldwide, includes Oncology, Anticancer, Hormone, Covid-19, Antibiotics and Nutraceuticals.
Loan licensing is a process adopted by pharmaceutical industry and it allows a manufacturing company to get products manufactured by another manufacturer however still market such products under it’s own brand name.
This practice helps pharmaceutical manufacturers to operate under limited resources and decrease the burden of in house manufacturing.
Ethical marketing can be considered more as a philosophy than a marketing strategy. It demands promoting and advertising a product with responsibility, fairness and honesty. However understanding of ethics can be dubious hence there are certain set of guidelines to help companies formulate new marketing strategies.
At Seatrack International, we take utmost care and follow below set of guidelines that separates us from other players in the market :
- We promote sales of a product only after receipt of product authorization from authorities.
- We ensure promotion of the product is consistent with the terms of product authorization.
- Information about a product is always up-to-date & verified from authorities. We take precaution to ensure no misleading information is implicated.
- We ensure to provide information that is capable of substantiation.