Main Subject - Business

Franchising your existing business might be the best possible way to take the opportunity to enter emerging markets. Markets like India and China have complicated r

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

ules and regulations about who is entitled to own and operate a business there. The best way often to circumvent these rules is by franchising your operation in the

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

Examples of combination products may in

se markets.

By using franchising the franchisee owns the business whilst the franchisor takes a share of the profits. Why does an established business want to deal

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

with headache of red tape and restrictive trade practices when with a leap of the imagination the franchise model allows them to achieve the same profitability wit

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

hout the same hassles?

Many British retailers including Argos and Mothercare have used the franchise model to dabble in new emerging markets. The franchise leaders

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

Combination pro

that are quick to carve out major niches in these new emerging markets will grab unprecedented market share before their slow and sure footed competitors move in.

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

The largest emerging market place is China with India being a close second. China could become the largest market place in the world within the next ten years and o

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

vertake the USA.

Franchising is the ideal route for many US and UK companies who want to test the water without expending large sums of capital. This gives them a

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

chance to dip their toes in the water without risking large sums of capital.

Once large organisations find that their business model does actually work in the new,

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

exciting and dangerous market place they can dedicate their resources to find better ways to keep a higher percentage of long term profits for themselves.

China a

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

d India are very unique marketplaces. Unlike say for instance Australia not everybody in China speaks the same dialect. The divide between rich and poor is also vas

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

Following aspects would a

t. Tastes vary enormously as does buying power.

In India there are literally hundreds of different languages whilst admittedly the main bulk of buyers with money c

dd to the challenges in developing combination products:

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

an be targeted by 2 languages… Hindi and English. Again here spending powers vary and so do belief systems.

In reality trying to expand new emerging marketplaces w

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

ithout testing the waters first is fraught with danger. Franchising offers a real solution to test out the marketplace, learn the structural issues and change your

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

products and marketing so that it identifies with the local marketplace. This does not mean that you can not enter the marketplace independently. You can franchise

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

numbers of units and then create non franchised units in other territories.

Throughout history economic powers have grown and declined. Asia is growing rapidly an

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

Professional from academic institutions, pharmaceutical industries, health care indust

d will play an ever increasing role in the ever demanding need for companies to find new customers. The buying power of Asian consumers is rising at a dramatic pace

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

and the consumers are demanding better products and improving service. The opportunity is there now for Established US & Europe brands to market their brands and t

.

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

est the waters before entering fully.

To sum up, the emerging markets are predicted to compete with the western powers in terms of buying power and economic streng

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

Companies that provide selfless information through particip

th. Any company which ignores this is turning a blind eye and letting its competitors expand, gain a foothold and exploit the opportunity whilst they watch and wait

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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Main Subject - Franchise Your Business to Enter an Emerging Market

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