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How hard is is to start a business?
I would love to be a veterinarian one day and start my own business that lets me make medicines for domesticated pets. #Animals #Business #Medicine #vet #veterinary-medicine #veterinarian
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Vamsi’s Answer
Echoing Hassan's answer that drug manufacturing is highly regulated and difficult business to start. But it is not impossible! I would also recommend that you pick up internship/job in pet pharmaceutical companies and learn the trade and professional network which will enable you to start the business.
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Anthony’s Answer
Start with this, what’s a problem that needs to be solved.
Create your business model.
You need to have access to capital/funding from investors.
You need to know got to sell and market.
You need a well rounded team to carry your business forward.
Have a strong network of professionals to reach out to and make things happen.
Create your business model.
You need to have access to capital/funding from investors.
You need to know got to sell and market.
You need a well rounded team to carry your business forward.
Have a strong network of professionals to reach out to and make things happen.
Updated
Hassan’s Answer
You'd need lots of money and the right licenses to start a business that makes medicines. This would be a huge challenge since medicines are heavily regulated and very large companies own the market. I'd compare it to starting a new car company. It'd be a real challenge to compete with Ford and GM.
So maybe focus on doing research to discover new drugs and then sell those to an existing drug maker. https://ahi.org/approval-and-regulation-of-animal-medicines/#:~:text=A%202015%20study%20of%20the,new%20pharmaceutical%20product%20for%20livestock. says it takes 6.5 years and $22.5mil to bring a new drug to market. https://www.fda.gov/animal-veterinary/animal-health-literacy/idea-marketplace-journey-animal-drug-through-approval-process outlines the approval process.
Also, to develop medicines, you may want to focus more on pharmaceutical sciences, pharmacy, biology, and chemistry rather than becoming a vet.
So maybe focus on doing research to discover new drugs and then sell those to an existing drug maker. https://ahi.org/approval-and-regulation-of-animal-medicines/#:~:text=A%202015%20study%20of%20the,new%20pharmaceutical%20product%20for%20livestock. says it takes 6.5 years and $22.5mil to bring a new drug to market. https://www.fda.gov/animal-veterinary/animal-health-literacy/idea-marketplace-journey-animal-drug-through-approval-process outlines the approval process.
Also, to develop medicines, you may want to focus more on pharmaceutical sciences, pharmacy, biology, and chemistry rather than becoming a vet.
I am really grateful you took the time to answer this question.
lisa