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Advice You - Offshore Outsourcing To India: Quick Decision Without Second Thought
Globalization & Internet has taken hold of world leaving no distance between far-flung nations. At this time, offshore outsourcing entered the scene with a big boom
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
& has become one of the most important management practices today. Many foreign corporations like American started outsourcing their blue collared jobs including inf
; 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
ormation technology development and IT “back-office” projects to developing nations, like India, China, Philippines & many others. Providing low-cost services & high
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
quality, these nations are developing with a great leap in economy through outsourcing. But, why India is preferred by American & other foreign corporations?
Offsh
Offsh
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ore outsourcing takes account of a great deal of thought. Rapid cost reduction should not be the only drive to outsourcing. Quality solutions & services by Indian co
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
panies are credited for being the new attraction for offshore outsourcing to India. When processes are offshored to India, companies not only get the advantage of lo
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
w cost but also experience value addition i.e. productivity and quality.
Source countries get approx. 40-50% savings from outsourcing to India. However, one should
Source countries get approx. 40-50% savings from outsourcing to India. However, one should
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
think twice before outsourcing because outsourcing would require a dedicated relationship and a proper understanding between the parties involved which simply means,
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
point of saving money is firm at its stand, but one has to realize that lack of proper communication may cause relapse of the promise of cost reduction.
Other than
Other than
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
savings & value addition, immense creativity, speed, scalability & talent of Indian mind also tend to startle the outsourcer once offshore outsourcing relationship
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
tarts. This is what we can analyze from this quote;
"Certainly cost reduction, but it's not as simple as that! Cost reduction was only part of the reason that compa
"Certainly cost reduction, but it's not as simple as that! Cost reduction was only part of the reason that compa
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
nies were considering offshore outsourcing, there were benefits to be had in time-to-market and quality, leading to an adage that companies initially chose India to
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
save costs but stayed for the speed and quality!" (National Outsourcing Association (NOA), 1st Annual Offshore Outsourcing Conference - 23rd July 2003)
Now, when we
Now, when we
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
are discussing potential reasons, then India’s powerful workforce with largest pool of latest technical skills can’t be spared mentioning. Indian companies understa
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
nd that cost alone can’t continue to keep India’s present dominant position in the offshore Outsourcing Industry.
In short, India is preferred to other countries be
In short, India is preferred to other countries be
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
ause of;
•High-quality brain power
•State-of-the-art technology with world-class systems
•One of fastest growing economies
•Rich in resources
•Stable government
•High-quality brain power
•State-of-the-art technology with world-class systems
•One of fastest growing economies
•Rich in resources
•Stable government
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
•Privatization of the infrastructure sector
Concluding with few words, I would say that rising offshore outsourcing is fueled by an amazing combination of efficie
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ncies and profits required by producers of goods and services together with the consumer-driven passion for quality goods at affordable prices. Cost-effective produc
.
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
tion of quality goods and services becomes the elementary driver for the source country while development of a globalized service-based economy for the destination c
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
ountry. The improving economy is based on highly sought-after skills and delivering services using low-cost broadband communications as the primary mode of transport
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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