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Advice You - Why Outsource to India?
Why should I consider outsourcing? This is the first question comes to our mind when We think of outsorcing. I'll be, without making a fou
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
ndation, quickly list out the benefits:
o Survive and be stable in tough compitition
o Cut those hefty Expanses:
o Increasing payouts
o Survive and be stable in tough compitition
o Cut those hefty Expanses:
o Increasing payouts
; 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
o Employee Benefits
o High Infrastructure cost
o Recruitment costs
o Other overheads
o Talented and experienced staff
o Better produc
o High Infrastructure cost
o Recruitment costs
o Other overheads
o Talented and experienced staff
o Better produc
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
tion, lesser disappointments
o Meet deadlines, and
o Focus more on growth than production problems
Now if we go specific about outsourc
o Meet deadlines, and
o Focus more on growth than production problems
Now if we go specific about outsourc
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ing to India:
o Cheaper, experienced and English speaking talent
o Currency difference
o Time Gap Advantage (India works while west sle
o Cheaper, experienced and English speaking talent
o Currency difference
o Time Gap Advantage (India works while west sle
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ps)
o Stong hold in IT service sector outsourcing. 85% of US and UK market.!
o Growing outsourcing reputation. Let's have a look what NA
o Stong hold in IT service sector outsourcing. 85% of US and UK market.!
o Growing outsourcing reputation. Let's have a look what NA
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
SSCOM has to say:
"Despite the challenges such as slow growth of IT spending globally, a jobless recovery in major markets and appreciati
"Despite the challenges such as slow growth of IT spending globally, a jobless recovery in major markets and appreciati
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
on of the Indian rupee [against the U.S. dollar], the Indian software and services industry has been able to maintain its growth momentum
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
and consolidate its partnership with overseas customers, adding to their competitiveness," _ Jerry Rao, chairman of NASSCOM.
Furthermore
Furthermore
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
Nasscom says: Recent studies on the benefits of IT outsourcing by business intelligence organizations such as McKinsey & Co. and other lea
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ing research companies have indicated the following:
o The ITES/BPO market is likely to touch US$142 billion in 2009, against the current
o The ITES/BPO market is likely to touch US$142 billion in 2009, against the current
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
cost of US$532 billion for these services. The difference of US$ 390 billion represents the net saving the US economy can expect from off
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
shoring
o Such savings have a huge economic impact on dollar savings, leading to value creation for shareholders and the common man
o US
o Such savings have a huge economic impact on dollar savings, leading to value creation for shareholders and the common man
o US
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
banks, financial services and insurance companies have saved US$6-8 billion in the past four years owing to IT outsourcing to India
o He
o He
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
lped by these savings, companies have prevented layoffs and instead added 125,000 more jobs
o Offshoring to India has resulted in quality
o Offshoring to India has resulted in quality
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
and productivity gains of the order of 15-20 percent
o US BFSI sector has managed to register customer satisfaction of almost 85% due to
o US BFSI sector has managed to register customer satisfaction of almost 85% due to
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
Offshoring to India vis-a-vis their European competitors
What can we outsource to India?
* Medical/Insurance Process
* Business Process
What can we outsource to India?
* Medical/Insurance Process
* Business Process
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
* CADD and Solid Modelling
* Help Desk / Customer Support
* Call Center
* Architecture
* Game and Graphic development
* Chartered A
.
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
ccountants and other Accounts oursourcing
* Software development
* Graphic and web design
* Medical Transcription,
* and much more
I
* Software development
* Graphic and web design
* Medical Transcription,
* and much more
I
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
guess we have got a long list of benefits one can get from outsourcing. We are also aware of India's contribution to the outsourcing world
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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