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“I can’t tell you how many companies said we just didn’t bother protecting in China because they don’t care. They’ll copy anyway,” said Landon Lack at this year’s 10x Medical Device Conference.
His entire talk here: https://medgroup.biz/Landon
“You have to protect your IP in China. If you don’t protect your IP in China, no one’s going to want to partner with you.”
• Some products may fetch a premium; others will compete with most-favored nation pricing. Reimbursement is not a factor; everything is private pay.
• If there isn’t an established hospital access code, the hospital can’t pass the cost on to the patient, and won’t touch your product.
• Landon advises if you’ll have to do a clinical trial, don’t enter China. It will take too long and cost too much.
• In the past, a product imported from the US was perceived to have higher quality. The landscape has changed. China has been emphasizing domestic quality, so make an evaluation whether to enter as a domestic Chinese product or as an import. There are pros and cons to both.
• You’ll need a partner. Just don’t make that partner your distributor. He explains why in the video.
So if you need help in the Chinese market, call Landon. The link for his video again at https://medgroup.biz/Landon
How to prepare for MDR: https://medgroup.biz/MDR-prep
Tobias Schreiegg (QA/RA Director, Siemens Healthcare) and Dorota Johansson (Clinical and Research Director, Bactiguard) on:
• The impact MDR will have on both organizations and the industry
Make it a great week.
P.S. Jon’s CAPA webinar is today: https://medgroup.biz/capa – replay and slides to all who register
Our clients that we’ve helped to handhold through the CFDA process certainly appreciate the help – clinical trials etc can add huge amounts of cost to the program but if the potential revenue is there, and you can plan your business early enough that you can allow for the couple of years necessary to get approvals then it’s a very lucrative market in our experience.
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