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Offshore merchant accounts are an advantage for people with international business interests that can be

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

run outside their country of residence. Offshore merchant account facilitates businesses to accept credit

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

Examples of combination products may in

card payments internationally. An offshore merchant account can be set up through an offshore merchant a

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

count provider. To set up an offshore merchant account, business owners have to provide certain relevant

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

documents and particulars to offshore merchant account provider.

An offshore merchant account provider r

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

Combination pro

quires documents relating to proof of identity, source of investment, and references from merchants? curr

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

ent banker. Merchants may submit a clear notarized copy of one of the documents that contain a photograph

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

which can be current drivers' license, social security card, current valid passport or a current valid n

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

ational ID card as an identity proof. Process of setting up a merchant account usually takes between a fe

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

hours to a few business days to be completed, once the offshore merchant account provider receives due p

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

ayment. Time taken to open an account depends on documents required and provided and time needed to proce

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

Following aspects would a

ss them. It may allow business owners to start accepting international payments in various currencies alm

dd to the challenges in developing combination products:

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

st immediately.

Most offshore merchant account providers have certain criteria that need to be fulfilled

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

before they agree to set up an offshore merchant account. Most providers offer accounts to only legal bu

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

inesses even though they may be high risk. There are certain areas that particular account providers may

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

consider as illegal and refuse services. Most offshore merchant account providers expect a certain volume

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

Professional from academic institutions, pharmaceutical industries, health care indust

of sales to be processed each month to ensure profitability. Merchant account provider may decide accepta

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

ble volume of transactions and merchants are expected to comply. However, there are some offshore merchan

.

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

account providers that offer their services without any volume cap. Therefore, it is advisable to look a

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

Companies that provide selfless information through particip

round for various offshore processors to get the best deal before setting up an offshore merchant account

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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