Your agency contract should clearly define what efforts are required of the distributor in terms of marketing and sales and how the process is managed. For example, your agreement could state: “The distributor is required to conduct a marketing campaign on radio, print and television in the geographic area. The distributor submits all advertisements to the manufacturer for approval by the manufacturer at least one month before publication. In addition, your agreement should include the marketing budget, all necessary sales steps, and an explanation of how accounting and payments are managed for the sale of pharmaceuticals. Global Co-Promotion and Co-Marketing Partnership Agreements and Conditions in the Pharmaceutical, Biotechnology and Diagnostic Sectors 2014-2020 Your agency agreement may require the distributor to be responsible for submitting all documentation necessary to have your pharmaceutical product approved in the geographic distribution area. If the distributor is required to have your product approved, you can indicate that the continuation of the agreement is subject to government approval. If the manufacturer is responsible for managing the approval process, the agreement must stipulate that the distributor will not begin distribution without assurances regarding state approval. At the beginning of your pharmaceutical agency contract, you must provide the names and addresses of the parties, a description of the activities carried out by the parties and any necessary contextual information about the agreement. A typical introductory paragraph could read: “Although XYZ Pharmaceutical Co. manufactures various pharmaceutical products and ABC Corp. distributes pharmaceutical products, the parties hereby agree to enter into this Agency Agreement for the sale of drugs for the next five years.” In general, most pharmaceutical agency agreements exist between drug manufacturers and distributors who act as representatives of the manufacturing company. These agreements typically describe how they manage the registration, marketing, distribution and support of a pharmaceutical product in a particular region. Because different distributors operate in different geographies, a pharmaceutical manufacturer may have many different agency contracts, even for a single pharmaceutical product. Dublin, Jan.
28, 2020 (GLOBE NEWSWIRE) — The report “Global Co-promotion and Co-marketing Partnering Terms and Agreements in Pharma, Biotech & Diagnostics 2014-2019” has been added to the ResearchAndMarkets.com. This report provides a comprehensive understanding and unparalleled access to co-promotion and co-marketing partnership agreements entered into by the world`s leading biopharmaceutical companies. The report provides details on recent co-promotion and co-commercialization agreements announced in the pharmaceutical, biotechnology and diagnostic sectors. The fully revised and updated report provides details on co-promotion and co-marketing agreements from 2014 to 2019.For pharmacy and biotechnology professionals, the report provides a detailed understanding and analysis of how and why companies enter into co-promotion and co-marketing agreements. The majority of transactions are multi-component where the licensor retains the right or option to jointly promote or commercialize the product resulting from the research collaboration. There are also many pure co-promotion/marketing agreements where the product manufacturer takes a co-promotion/marketing partner to maximize a product`s presence in the market. Understanding the flexibility of a potential partner`s negotiated terms provides crucial insight into the negotiation process in terms of what you can expect when negotiating the terms. While many small businesses will be looking for details about payment clauses, the devil is in the details when it comes to how payments are triggered – contract documents give that insight where press releases and databases don`t. This report contains a comprehensive list of all co-promotion and co-marketing agreements announced since 2014 that are listed in the database of current agreements and alliances, including financial terms, if any, as well as links to online copies of co-promotion and co-marketing contractual documents submitted to the Securities Exchange Commission by the companies and their partners. Contract documents provide the answers to many questions about a potential partner`s flexibility on a variety of important issues, many of which will have a significant impact on each party`s ability to extract value from the business.
The first chapters of this report provide guidance for the co-promotion and co-marketing of business transactions and activities. .