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What to consider when expanding business into North America: increase your chances of success in the biggest market in the world.

Article Excerpt
North America is the world's largest pharmaceutical market. Opportunities for high margins, strong demand and exceptional market potential are compelling factors that prompt European manufacturers to start supplying the North American marketplace. As home markets mature, however, competitive presence becomes painful and opportunities for growth become limited.

The vision of successfully expanding into North America is one that has been shared by many companies over the years. While the English language does not pose undue hardship for most educated Europeans, American culture and business often present unexpected and unique challenges.

Look before you leap

As a case in point, a European manufacturer seeking to develop new business supplying the North American pharmaceutical industry with an innovative technology engaged the services of a local independent sales agent. Initially, things looked promising, but after several false starts and months of inactivity, expectations for new sales were unmet.

The manufacturer then replaced the sales agent with a dedicated sales office staffed with some of the best and brightest long-time employees. After all, he rationalized that they were...

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