Canada has become increasingly attractive for the European Pharmaceutical Industry. It has one of the best funded healthcare systems in the world and can be seen as entry market for North America because its regulatory environment follows primarily the FDAs requirements and the demographics are very similar. Koenig & Consultants Inc. a German-Canadian Strategy and Marketing Consultancy and Hope Pharma Inc. Canadian experts for regulatory advice and representatives are announcing that they have entered a partnership and joined forces in helping small and medium sized German Pharmaceutical companies to enter the Canadian Market with their products.

The costs associated with bringing a licensed drug product to market in Canada can be prohibitive. Maintaining and staffing a Canadian facility and acquiring and sustaining a Drug Establishment License are just some of the related costs. Moreover, under the Canadian Food and Drug Regulations, no one may import a drug product into Canada without a representative in Canada responsible for the sale of the product. For many foreign companies, these factors can mean the difference between having their product on the Canadian market, or not.

The partners also understand that it is hardly ever sufficient to have what appears to be a superior product, with increased effectiveness or fewer side effects. Doctors and patients have to go a long way to break with old traditions and good experience to decide and try the new product. Each product launch, especially in the healthcare market where basic fears prevail, has to overcome this barrier. Understanding the specific anxieties of doctors, patients, and pharmacists in other cultures is essential to estimating the time and efforts needed for a successful market entry and getting the strategic and resource planning right.

Jointly Hope Pharma Inc. and Koenig & Consultants Inc. will offer their clients all the necessary services to successfully enter the Canadian market. Market Research (i.e. competitors, products, market potentials and shares, etc.) strategic advice (i.e. ideal target segments, product positioning, pricing, communication, etc.) and regulatory advice, as well as legal representation and distribution are the core services the partners will provide to their clients.

“It is a perfect fit for us,” says Matt McCarthy, COO and Founder of Hope Pharma Inc., “together we can serve as a true one-stop-shop for our target clients. From market analysis to actually selling their product - we can provide German clients with the full service at reasonable costs.”