Third Party manufacturing seems to be the latest trend of the pharmaceutical industry. The pharma companies focus on the core competencies and leave the rest of resources to the third party manufacturers. They prove to be advantageous over in-house manufacturers due to low cost, flexibility, reduced capital, and experts.
Third Party manufacturing pharma companies tend to earn more profit in the long run. They manufacturer pharma products like soap, injectables, tablets, syrups etc. Pharma business shows a higher success rate when collaborated with third party manufacturing. Thus, Third party manufacturers help the pharmaceutical companies who do not have their own specific manufacturing units. They make pharmaceutical high-quality products for them to benefit their company and help the human race as well.
Role and Responsibilities of Third party manufacturers
- The third-party manufacturers should have excellent quality control and quality Assurance systems so as to develop high standards pharmaceutical products. In the pharmaceutical industry, products that do not meet the FDA standards can be rejected easily. All the products manufactured by third party should be validated for quality before being shipped to the company.
- Safety rules as per pharmaceutical laws are must for third party manufacturing. Schedule M, separate segregation area, air pressure differentials and systematic work environment are some of the important responsibilities.
- A flexible approach to perfectly fit into the supply chain of the pharmaceutical company.
- A third-party manufacturer should minimize investments in capital-intensive facilities. They should aid to reduce the cost of manufacturing.
- It is the responsibility of third parties to provide hassle free manufacturing. The process and cost of manufacturing should be on time and as such that increases the net earning along with the cash flow.
Third party manufacturing is a win-win strategy. It helps to grow the pharmaceutical Manufacturing business at a very good pace. The success of pharma business directly relates to the success of third party manufacturing. A third party providing a high quality product; having low production cost; on-time delivery; CM/Customer support; excellent client relationship; process optimization and training of production personnel is the best suit for a pharmaceutical company.
Top Third-Party Manufacturers
In India, there are numerous third party manufacturers. But, the best one is those that provide high-quality products.
Below, are some top class third party manufacturers:
- Healthkind Labs Pvt. Ltd. is a top supplier, distributor, manufacturer, and trade of a range of pharmaceutical drugs.
- DMAC life sciences are WHO-GMP certified company is an old and pronounced third party manufacturer. They are famous for anti-cancer products, tablets and capsule.
- Texas therapeutics is another top third party manufacturer. They provide cetirizine tablet, drotaverine aceclofenac tablet, gabapentin tablet, tamsulosin tablet and other pharmaceutical third party manufacturing services.
- Allien Pharmaceuticals is a well known third party pharmaceutical manufacturer fulfilling trading, supply, manufacturing of pharmaceutical drugs and products.
- CIRON pharma is a GMP standard third party manufacturing company providing all the necessary pharmaceutical manufacturing needs.