Founded 15 years ago, Genoscope produces cosmeceuticals (a combination of cosmetics and pharmaceuticals) and nutraceuticals (a combination of supplements and pharmaceuticals), primarily using bioactive bovine colostrum, a nutrient-rich substance known as the first milk produced by mammals immediately following delivery of the newborn.
Colostrym has properties that supports the immune system.
CEO Radosław Czaplejewicz described the complexity and cost of entering new markets, noting the importance of understanding local business cultures.
"When we enter a new market, analyzing the business culture of the area is particularly important," he said. "The process of assimilation and development is very complicated, time-consuming, and costly. It is also fraught with a high risk of failure."
Genoscope's extensive network and market potential are reflected in their ability to register products in regions with complex regulations and obtain various international certifications.
Czaplejewicz added: "We have managed to register our products in Africa, Asia, and Oriental countries, where the registration process can take up to three years. We have also secured trademarks in over 35 countries, including India and China."
To ensure the highest quality colostrum, Genoscope adheres to stringent standards for breeding, collection and processing, according to Czaplejewicz.
He said: "Through complete control of the production process, we have created a new quality of bioactive colostrum - Genocolostrum. This allows us to guarantee the highest and consistent quality of our products and ensure full safety for our customers."
One of Genoscope's key products, Diabetegen, a wound healing ointment based on Genocolostrum, has shown effectiveness in treating severe skin conditions such as diabetic foot, bedsores and post-chemotherapy skin changes.
The company says the ointment has gained international recognition and trust from doctors and dermatologists worldwide.
"Our products have earned the trust of doctors and the appreciation of dermatologists globally," Czaplejewicz stated. "Every day, we receive reports of successful therapies thanks to Diabetegen."
The company has built a robust distribution network over the past decade, requiring significant investment and time to establish in each new market.
"Opening a representative office in a country, assuming the first 12-month costs covering basic expenses, amounts to around USD 600,000-800,000," Czaplejewicz said. "Another 12 months is needed to bring the office to a point where it starts generating profit. To determine if entering a market was a good decision, it takes about a year and nearly USD 1 million."
(rt/gs)
Source: pap-mediaroom.pl