Advice You - Business

Offshore outsourcing has an interesting history. It wasn’t started purely as a way to get workers at a cheaper price, as many detractors believe. It is, instead, a normal and predictable part of the globaliza

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

tion process our planet is undergoing.

As we started the change from many national economies to one large global economy, companies started seeing the benefits of expanding their customer base outside their co

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

Examples of combination products may in

ntry of origin. Some in the United States had started feeling market saturation and expansion to foreign markets opened up a whole new level of revenue generation to them. They started by offering products an

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

d raw materials via export. Eventually it became clear, to some companies, that they needed a corporate presence in the foreign countries they served. This would allow them to provide better service by gettin

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

to know the people, their culture and their needs.

This was true even for the information technology companies that are largely outsourced today. It is estimated today that approximately 60% of the profits f

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

Combination pro

rom American IT companies comes from overseas. They are not alone. Outsourcing is practiced in industries ranging from banking to consumer product manufacturing. Many of them report their overseas earnings

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

o be beating their domestic revenues.

When actually doing business in a foreign country, having a corporate presence there is a good customer service policy. One of the secrets to beating your competition is

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 have the most responsive and most readily available customer service. No matter how well you plan, there are always issues involving pricing, competition and unresolved complaints that need prompt attention

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

in order to keep your customer happy and coming back. Having people in their own country who speak their own language and understand their customs is a huge step up in gaining this advantage. It helps a compa

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

ny tune into the special needs in an area.

On the other hand, today’s outsourcing companies include those who have no official presence in the country being outsourced to; nor do they sell products or services

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

there. Instead, they utilize the more inexpensive labor there to complete the more non-core-competence activities at a favorable cost. This, they feel, is essential in order to compete in the global marketpla

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

Following aspects would a

e. Some find this to be unfair to those U.S. employees losing their jobs to foreign workers.

Looked at from a broader stance, however, if the company is unable to compete globally, it may have no choice othe

dd to the challenges in developing combination products:

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

r than to go out of business some day. Then many MORE jobs would be lost than are today from the outsourcing that could save the company from eventual disaster.

Another advantage of outsourcing is expertise.

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

Let’s take the example of a credit card company. One of the functions of a good credit card company is operation of a call center. This is where incoming customer service calls are taken and where outgoing co

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

llection calls are initiated, among other things. A couple decades ago every large credit card company had at least one call center and most had several located in strategic low-income areas of the United Stat

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

s. Although these still exist, they are generally much smaller and hire less people. Instead, call center activities have been outsourced to overseas call center companies. To these overseas companies, call

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

Professional from academic institutions, pharmaceutical industries, health care indust

center tasks are their central activity - or their core competence. To the credit card company, however, call center activities are a support function to their core competency, the granting of credit and admin

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

stration of credit accounts. Outsourcing allows the credit card company to concentrate on its core competencies while getting even better service from the experts overseas than they could have provided themsel

.

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

ves. In addition, the cost savings allow the credit card company to invest in new markets and possibly open up new job opportunities here at home.

The price discrepancy between labor in the U.S. and other pa

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

Companies that provide selfless information through particip

ts of the world doing our outsourcing is shrinking. For example, the salaries of IT personnel in India is said to be growing at 15-30%, thus reducing the attractiveness of outsourcing programming jobs to India

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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