Third-party pharma manufacturing facilitates a bridge between the manufacturer and the organization/ hospitals in need of a product with standard quality. Generally, third-party manufacturing is a process of manufacturing medicines and products from other parties. In this process, signing an agreement is done between the company and the manufacturing company, and the manufacturing company manufactures the products as per the contract. So the third-party manufacturing pharma process is also known as contract manufacturing.
Numerous pharmaceutical manufacturers use this facility for outsourcing manufactured pharmaceutical products. Third-party manufacturing pharma companies ease the job of manufacturers by providing brand new audiences.
The pharmaceutical supply chain starts with the supply of active ingredients. It continues through various stages of dose form manufacture, packaging, and testing before transporting goods to a distribution centre. Some key factors now challenge the traditional pharmaceutical company model conducting a large proportion of activities in-house. To ensure the security of supply, the need for specialist capabilities, in-licensing, product lifecycle management, market access, and cost optimization are some factors that need third party involvement. The involvement of third parties is not only limited to manufacturing and packaging. Product development, specialized processing, such as radiation sterilization, testing, logistics, and medicine transportation at appropriate temperatures, are examples of supply chain elements that have increasingly become business for third-party outsourcing.
The third-party pharmaceutical manufacturer in India sought the inflated demand for pharma products more after the pandemic outbreak in 2020. According to the facts and figures, there is an exponential boom in this industry. And it grew from USD 934.8 billion in 2017 to USD 1.17 trillion in 2021. Better healthcare is becoming a priority for everyone; people are becoming conscious of their health, especially after the Covid crisis.
Ikris Pharma Network is one of India’s top third-party pharma manufacturers, providing facilities like third-party pharma manufacturing services to pharmaceutical organizations/hospitals. Ikris helps in such access only according to the rules and regulations of the country. The list of perks of third party manufacturing with Ikris:
Ikris Pharma works as a third party manufacturer for pharmaceutical products in a stepwise manner:
For more details about third party manufacturing, you can directly reach us on firstname.lastname@example.org or dial our TOLL-FREE 1800-889-1064