Voizmed Pharma a top leading pharmaceutical company is also undertaking third party manufacturing / contract manufacturing services to its pharma clients. The manufacturing facilities are GMP / WHO approved and products are as per DCGI guidelines.
Third party manufacturing is a word which is associated with the manufacturing for third party under the banner of another company’s Brand Name or Labels. The manufacturer responsibility ends as soon as it completes the manufacturing of the product. Sometimes it is also referred as Contract Manufacturing.
Third party manufacturing is the production of goods by a firm under the brand or label of the other company . Contract manufacturers are actually making similar products for various other companies as well as per the design / formula or any other product specifications given by the customer company.
You might be thinking about why should a company choose for the contract manufacturing ? Actually Manufacturers can have a huge amount of saving on expenses associated with materials, labour and various other issues which is linked with the regular product run to manufacture the product. This third-party also known as Contract Manufacturing is usually practised in developing countries where we have surplus availability of very economical cost labour and the government rules are not comparatively very stringent. So if a company has far vision and good planning , contract manufacturing practise adopting can allow it a huge savings on the production cost also maintaining the quality standards of the production process as well as increasing the profits associated.
Now with recent advancement in technology and healthcare awareness there is huge demand for medicines and in bulk quantity at unpredictable time. So one need to find a way to absorb the sudden peaks without huge investment. The strategy should be to have a very flexible manufacturing capacity which can be strengthened as per demand peaks while still maintaining the lean company management profile. Thus maintaining the profitability as well. For these reasons all popular and major pharma companies are moving for adopting the third party manufacturing practises of Allopathic products, Ayurvedic products, health syrups, protein supplements, eye drops, cardiac products, derma range etc etc.