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Running an import company can be very exciting yet challenging at the same time. As demand for cheap produce

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

d goods has increased, so has the number of importers that are constantly growing their businesses.

To be a

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

Examples of combination products may in

successful importer you need three things – good suppliers, solid customers and the right financing. As a ma

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

tter of fact, having the right financing can make or break your company.

Importers always play a delicate b

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

lance with their financing. The idea is to have as much financing as possible that is active (in use), backi

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

Combination pro

g up active purchase orders from clients. However, this delicate balance of living on the edge with financin

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

g has its drawbacks. What happens when you get an order that exceeds or exhausts your bank financing? Unless

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

you have a great track record, it is unlikely that the bank will extend you further financing.

Your best op

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

ion is to use purchase order financing.

Purchase order financing can cover up to 100% of the necessa

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

ry financing to deliver on a purchase order from a large client. The financing company handles the process o

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

getting a letter of credit (or similar method of payment) and paying your supplier. This enables your suppl

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

Following aspects would a

er to deliver the product and allows you to book the sale.

Purchase order financing also allows you to incr

dd to the challenges in developing combination products:

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

ease your purchasing capabilities dramatically, enabling you to book orders that in the past may have been t

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

o big for your company. With it, you can take your company to the next level.

As a financing tool, purchase

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

order funding is easy to use. The process of establishing an initial account with a financing company can ta

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

ke a week or two. All qualified orders after the account is established can be financed in days. And, qualif

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

Professional from academic institutions, pharmaceutical industries, health care indust

ing for purchase order financing is much easier than qualifying for a bank loan or line of credit. The main

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

equirement is a purchase order from a solid commercial customer.

Purchase order financing is commonl

.

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

y used in conjunction with factoring (invoice factoring). Generally speaking, factoring is cheaper th

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

Companies that provide selfless information through particip

t purchase order financing. So, by combining both financing tools, you can lower the total cost of financing

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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Careful consideration must be given when choosing and working with an outsource manufacturing partner. Although each situation is unique, there are common characteristics that make for a reliable outsource partner.

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