Useful Advices - Business

In today’s global economy, attaining a competitive edge is vital. With many companies competing in crowded marketplaces, having to compete on price alone has becom

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

e a reality for many companies. Ensuring that you are getting the best price possible for inventory is a vital process that should be equally as important to a com

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

pany as ensuring quality is consistent and delivered on-time to customers.

With many global brands opting for to directly outsource manufacturing to China, other

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

businesses are attempting to follow by both taking advantage of Asian markets and also ensuring they do not have the profit margins of a broker to contend with as

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

well. Being able to locate and build relationships with direct manufacturers is becoming increasingly difficult with the rise in brokers in the marketplace, howeve

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

r when you do indeed manage to locate one; the advantages of building a partnership with them can be beneficial for both retailers, wholesalers and brand holders.

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

China versus Other Developing Economies

China has advantages when it comes to manufacturing over other Asian countries. One reason for this is the experience and

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

education the country has in delivering products that adhere to the rigorous standards that are required by both western legislation and consumers. Chinese labor

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

is also significantly cheaper than Indian markets for example, where rapid inflation is making it harder for Indian companies to compete on price alone.

Direct Ou

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

tsourcing versus Brokers

When it comes to purchasing inventory, there are certainly more brokers in the marketplace than there are manufacturers. Some brokers wil

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

l effectively manipulate companies into thinking they operate as a manufacturer, where as others will act as a legitimate broker. Either way, they will either choo

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

se to mark-up the price or charge a commission rate for the transaction. Contacting the manufacturer directly will cut out the middle man, allowing your company to

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

save money on purchasing inventory.

Outsource versus In-House Manufacturing

In business we are always told that we should focus on our core competencies. What d

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

oes that mean? You should consider what your business has that is unique over its competitors. Is it an idea for a product, an ability to offer cost-effective solu

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

tions or even an intricate understanding of a certain sector? Whatever it is that your business has core competencies in, it is important that your business highli

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ghts them in what it does in-house and out-sources the other aspects to companies that have special skills.

For example, if your company has spotted a potential m

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

arket for a product, then they should take advantage of the opportunity that they have identified. However that does not mean they should manufacturer the product

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

themselves. Ultimately, they should follow the path that will allow them to deliver quality at the best price; allowing them to focus on their core competencies.

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

Therefore, if you are manufacturing in a western economy then you should ask yourself why. Why are you using an in-house workforce that may be 10 times more costly

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

than what a Chinese company may be able to pay? Why are you focusing on manufacturing when time could be better spent on sales, marketing and business development

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Useful Advices - The Advantages of Direct Manufacturing Outsourcing in China

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