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In today’s competitive world, a business owner cannot think of sticking to domestic market for growth. He has to explore new ideas, n

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

ew markets and new ventures. A simple way of maximizing sales is through international marketing.

What Is International Marketing:

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

Examples of combination products may in

ell, in a layman’s language, we can say it is simply selling the products in overseas markets. But, this option of expanding the busi

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

ess is not as simple as it seems. It demands time, money, efforts and an intensive research. Rather, research is the most important a

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

d basic sought after aspect for entering into a new market.

Now, you must be thinking what kind of research is required when you are

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

Combination pro

already in the business and you just want to sell your product in a foreign market. Think again. You will find that the foreign cust

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

mers have different tastes and preference, different lifestyles and altogether a different culture. And due to all such and many othe

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

reasons, a wide as well as rigorous research is required.

If you are planning to export your goods at the international level, the

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

esearch should answer questions like:

Who are the potential consumers and what are their preferences?

Who are the competitors and w

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

hat kind of products and services they provide?

What is the political and economic system of the country in which you want to explor

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

new market for your product?

What kind of rules and regulations you may have to face?

What is going to be the cost structure?

Now

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

Following aspects would a

when you are through with your research and you have found strong prospects of surviving in overseas market, you have to undergo a lo

dd to the challenges in developing combination products:

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

of groundwork. Here, you need to think about the required resources, delivery and payment modes, your present production capacity an

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

d the marketing techniques. You also need to add a local flavor in your products when you are deciding to export them.

Also, there a

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

e number of ways to sell the product in the new markets, like selling the product to local distributor or using a sales agent who can

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

sell product on your behalf. You can also enter into a joint venture with a local business or you can set up a local office in there.

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

Professional from academic institutions, pharmaceutical industries, health care indust

You should choose the methods that suit your business status. You can also get financial aids from governmental organizations like U

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

K Trade & Investment. Not only this, it also provides managerial expertise and knowledge for solving the related problems. You can al

.

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

o take help of marketing advisors.

Remember, it is not difficult to explore the foreign markets. It is just an extension of simple m

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

Companies that provide selfless information through particip

rketing. All you need is to be little more careful about the country’s laws and cultural values where you are planning to do business

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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