Pharma manufacturers run two very different sales motions
Franchise appointments are a territory business
A PCD or franchise enquiry is not really a product sale. It is the appointment of a distribution partner, and the currency is territory. The party wants a district or a state on a monopoly basis, a rate list they can build their own margin on, and often their own brand names on your compositions. What decides the deal is whether your segment range fits what they already sell, whether the territory is free, and whether you responded before three other manufacturers did.
The volume is brutal. A manufacturer advertising for franchise partners can receive several hundred enquiries a month, of which a small fraction have any intention of placing an order. Without a scoring and routing layer, the two experienced people on the desk spend their mornings on tyre-kickers and their afternoons apologising to serious parties who waited two days for a rate list.
Third-party manufacturing is a costing business
A marketing company approaching you for contract manufacturing wants something else entirely: a rate per unit against a specific composition, packing style and batch size, plus a realistic view of when a batch can be scheduled. That cycle is slower, more technical, and stalls on artwork and packing material far more often than it stalls on price. Running both motions through one undifferentiated "leads" list is why most manufacturers cannot say how either is performing.