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Digg It - What Type Of Importing Operation Suits You?
Buy low, sell high. It's the business mantra that even the simplest operator recognises. The bigger the gap between your income and e
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
xpenses, the more profit you are making. And we know from watching the big corporations and the eBay power sellers, that buying from o
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
fshore suppliers can really help out with the first part of that equation.
Offshore suppliers usually have substantially cheaper labor
Offshore suppliers usually have substantially cheaper labor
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
costs, can have cheaper and more readily available resources, and mass production often drops the price per unit considerably. Indeed
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
if you can locate the right niche for you then importing can be an incredible source of income. But before you jump in you need to ma
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e a call early on in your planning process, not about what items you will sell, but about what sort of items you will sell.
There are
There are
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
asically two ways to go here. Big Ticket items such as cars, heavy machinery, and computers. Or smaller mass produced items including
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
everything from pottery to small electronics to clothing. Each has it's own advantages and disadvantages as we will outline in this ar
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
icle.
The first catagory we will talk about is importing big ticket items. The advantage here is obvious - the profit per item is goi
The first catagory we will talk about is importing big ticket items. The advantage here is obvious - the profit per item is goi
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
g to be much greater, and in many cases a sale or three will cover your costs for a month or more. On the flip side, you are tying up
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
lot of money in a single product. If you can't find a buyer, or a planned sale falls through it is that much harder to make the sale o
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
a big item over several small ones. It's important to remember that you are paying for big ticket items up front, and often have to w
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
it 3-5 weeks before you take delivery. If there is any problem with the item it needs to be sent back and a replacement sent. The mo
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
t successful big ticket importers tend to be known as specialists in their area and able to quickly access new products for defects bef
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
re they are moved on to customers.
The other path, is to import multiple smaller/cheaper items. The advantage here is that you are ab
The other path, is to import multiple smaller/cheaper items. The advantage here is that you are ab
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
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
e to spread your stock across several products or ranges. You also have multiple examples of each item you stock, so if you do have a
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
aulty item you can replace it yourself rather than having to await for your supplier to do the send a replacement. The major disadvant
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ge, particularly if you are selling the items online, is that you are dealing with multiple sales, and thus the time involved in packag
.
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
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
ng, sending and accounting for each shipment is greatly increased.
Ultimately, the type of operation that you undertake will depend gr
Ultimately, the type of operation that you undertake will depend gr
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
atly on your own circumstances, resources and objectives. Whichever path you take, importing can be an immense benefit to your company
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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