News and Events
Pharmaceutical Franchising Introduced by Galt Phranchise Systems and Holds First Training Class
April 4, 2018
ATLANTA, GA Galt Phranchise Systems, LLC (GPS) announces the launch of the pharmaceutical industry’s first franchising model. GPS is the first and only pharmaceutical company which operates a sales platform based upon the spirit of entrepreneurialism through Phranchising (Pharmaceutical Franchising). Over 500 sales territories have been created across the United States and each Phranchise owner has exclusive rights to represent Galt Pharmaceuticals, LLC (Galt) products after they are certified to promote in their local communities according to FDA guidelines and approved labeling. A milestone for GPS was reached in April with the first class of 35 Phranchisees and Authorized Sales Representatives successfully completing training.
“The Galt Phranchise model is a unique and efficient system that emphasizes local customer service addressing individual physician and patient therapeutic needs” said Galt Co-Founder, Barry Patel, Pharm.D. Galt Phranchisees leverage their existing and newly established relationships within the medical/pharmacy community to address unmet clinical needs that may be addressed with FDA approved pharmaceuticals. Although, the operations and management of territories is best left to the Phranchisee in this groundbreaking model, the support for medical affairs, safety reporting, product marketing, distribution and overall FDA compliance is provided through Galt corporate resources. “As the pharmaceutical industry continues to evolve, one thing remains constant in that prescribers of medication still seek education and dialogue on features and benefits of pharmaceuticals and Galt is personalizing this process through entrepreneurs who intimately know their communities” said Galt Co-Founder Wade Smith.
This class of phranchisees are establishing their businesses through the promotion of Galt's current lead product, Doral (Quazepam). Doral has FDA indications for the treatment of insomnia characterized by patients having difficulty falling asleep, difficulty maintaining sleep and early morning awakenings. “Doral offers HCPs a unique alternative to the many available sleep-aids on the market and Galt Phranchisees have been trained on FDA approved prescribing information ensuring they present Doral in an ethical and compliant manner to healthcare providers in their community” said Wolfgang Freund, Vice President of Sales.
Galt seeks qualified entrepreneurs that would like to own a piece of their own local pharmaceutical company business and can email email@example.com to request information.
About Galt Pharmaceuticals
A unique Pharmaceutical Company, Galt has found a better way to enhance the quality of life of patients with products that meet unmet clinical needs, while creating life-changing opportunities for entrepreneurs, our employees and the individuals within the communities we serve. Galt’s founders believe there’s a better way than big pharma where local owners build their own pharmaceutical business in their own market. Galt is the first and only pharmaceutical company to create a unique franchise (phranchise) concept. which moves product representation and engagements from a corporate headquarters to a local territory. Phranchisees provide education to local healthcare providers about high value medications and share a percentage of sales with Galt who owns the pharmaceutical assets and manages functions such as drug research, regulatory approval, compliance and supply chain. Galt currently owns FDA approved assets in the insomnia and pain markets, with products offering clinical advantages compared to currently promoted products in their respective therapeutic classes. Learn more at www.galtrx.com.
About Doral (Quazepam)
Doral (Quazepam) is indicated for the treatment of insomnia characterized by difficulty falling asleep, frequent nocturnal awakenings, and/or early morning awakenings.
Important Safety Information (ISI)
Doral can produce daytime impairment, and this risk increases with dose and concomitant use of other CNS depressants. If insomnia worsens or fails to remit after 7 to 10 days of treatment, this might be indication of an underlying illness. Doral is contraindicated in patients with a known hypersensitivity to quazepam or other benzodiazepines, established or suspected sleep apnea, or chronic pulmonary insufficiency. Rare cases of severe anaphylactic reactions including angioedema and dyspnea have been reported. Complex behaviors, such as sleep driving or sleep eating, have been reported with the use of sedative-hypnotics. Immediately evaluate the onset of any new behavioral changes. Benzodiazepines may worsen depression, and appropriate precautions should be considered in at risk patients. For a full list of warnings and precautions, please refer to the full prescribing information.
Visit www.DoralRx.com for more details and full prescribing information.