Useful Advices - Business

Characteristics of India

India is the other Asian country whose economy is booming (with China of course). Although it is several years behind China in its econ

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

omic development, India has a development rate at least as fast as its important neighbour. Development of infrastructures is hindered by a corrupted government, but the private

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

Examples of combination products may in

sector is booming.

India is a completely democratic country. As a result, business practices are totally different from the rest of Asia. Business is based on free trade. You ca

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

n market your products by direct sales.

Business in India is based on networking and building relationships, face to face meetings, and negotiation.

It is easier to do business

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

in India by networking and building relationships, rather than direct sales contacts. But direct sales are also possible. Working on and developing relationships is mandatory. B

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

Combination pro

usiness in India favors relationships, so it is important to maintain your precious relationships with your customers and prospects.

Visiting your customers is also mandatory. Y

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

our customers are looking forward to meeting you and pay a high importance to your visit. It is not rare to have a full room as an audience. You may have to present your products

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

to 10 to 20 people. Your Indian customers will very much appreciate technical details about your products. Technical education is very high in India. During a meeting you will h

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

ave to answer at least a dozen technical questions, most of them being very technical and very targeted. Giving satisfactory technical answers will prove your competence and will

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

be very much appreciated. It can make the difference between closing a deal or losing a sale.

Finally, India is a country where negotiation is part of normal business practices

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

. You will have to bargain and give in something, so be prepared. A price reduction of about 5% is common.

The country of sales agents

A sales agent will be of

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

Following aspects would a

great help to enter the Indian market. Visiting clients being so crucial, a local sales agent will give you this precious capability. The sales agent will be able to visit custo

dd to the challenges in developing combination products:

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

mers, develop a relationship with your prospects, and negotiate contracts (the negotiation phase generally necessitates several meetings).

India is the country of independant sa

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

les agents. Many sales agents from this country have probably already contacted you to sell your products. However, the quality of sales agents varies greatly. You will find sale

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

s agents that try to make one great deal and maximize their profits but don't try to grow the volume of sale of your products. You will also find very good and very professional

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

sales agents that will be able to reach prospects very efficiently in a targeted market.

Try out several sales agents until you find the one that you like. Do not grant exclusiv

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

Professional from academic institutions, pharmaceutical industries, health care indust

ity on a territory before being satisfied with your sales agent. Be careful though, once you have several sales agents consolidating the sales activities into one contact will be

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

difficult. Once you find a good sales agent, gradually transfer all your business to him. Give him your new leads systematically. And be patient, consolidating your sales action

.

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

s can take several years.

The fiscal year in India starts on April 1st and ends on March 31st. You will most likely receive your most significant orders at that time of year.

Y

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

Companies that provide selfless information through particip

ou can find the original article at http://www.repglobal.net/know_how/reps_india.php.

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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The use of cubicles by forty million Americans, about sixty percent of the workforce of America, clearly establishes the significance of cubicles in the corporate world. It has been felt that cubicles provide privacy at an affordable price. Since they are usually taller than a person sitting in a chair, cubicles tend to block out a lot of a person's voice when they are talking on the phone. This ensures that everybody can achieve greatest efficiency with the least amount of square footage invested in the office.

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