Advice You - Business

Many healthy companies fall into the trap of their success. They tend to be more ‘technology’ driven mode rather than being ‘market’ driven. Many companies developed the product first then start out looking f

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

or the market. Successful companies look at the market first then start developing the products.

Exxon Chemicals was the first largest faxed machine supplier in the world. But Exxon Chemicals was ahead of it

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

time and after making horrendous financial losses, decided to give up. Instead the late entrants, Japanese companies such as Canon, made a success of the fax technology. In the 1980s, many videotext services

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

such as the Singapore Telecoms Teletext made losses. The technology of videotext appeared very promising, with each household been able to access electronic data and information from the television screens

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

The only problem was that the market application and services were not widespread enough to create a critical mass. It took time for the wide acceptance of videotext services to kick in. The Internet technol

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

gy took over the top spot of online services instead although the Internet is a much less sophisticated technology and an earlier head-start than videotext. Also, notwithstanding the more powerful colour pict

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ure quality and technology of the videotext as compared to the Internet, the Internet has the advantage of wider market acceptance. As a result, videotext applications were dwarfed by the Internet ones.

Th

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

following shows that the other gestation period between a technological invention and commercial production is shortening.

Invention, Invention date, Production date, Waiting time

Fluorescent lighting 1851,1

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

34, 82 years

Radar 1887,1933, 46 years

Ballpoint pen 1888,1938, 50 years

Zipper 1891,1923, 32 years

Diesel locomotive 1895,1934, 39 years

Power steering 1900,1930, 30 years

Helicopter 1904,1936, 32 years

T

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

elevision 1907,1936, 29 years

It takes a long time for the technology to pick up. However, the lapse of timing between invention and production is speeding up and narrowing.

In technology, there is a trigger

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

oint when the price gets low enough, the application gets widened and people think that they want to have it. The technology can stay latent for a long time before hitting the trigger point as the market is n

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

t quite ready to embrace the applications of the technology. The key is to prepare for the trigger point and ride with the wave and revolution when it arrives.

When the technology is triggered off and embrac

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ed it will permanently change the way we do business. Just as fax technology phases out the telex, e:mail technology may one day phase out faxes. CD is phasing out videotape technology and one day CD itself m

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

y be phased out by DVD.

A few years ago, people would buy computers and not ask for a DVD drive, now they expect to have it. Not so long ago, wireless phones were not common, today even students must have

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

t as part of their school kits. In the 1980s, Internet was not popular.

Today any business which is not registered on the website is not in business. However, it was foolhardy for many dot.com companies that t

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

hought that the New Economy revolution would radically change the consumers’ habits within months of the introduction of a new product or service. An example is the telecommunications market, where start-up

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

after start-up promised new technology to bring data, voice and video together. They failed to deliver not because the technology was not ready, but rather the market was not yet ripe. Their debt loads finall

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

killed many of these start-ups.

To gain competitive edge, you want to position your company in the leading edge. You want to leverage on technology advancements and be prepared for the flashpoint. Pioneers

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

do face arrows and the leading edge all too often translates into the bleeding edge. If you are a small company, you do not have the resources to develop leading-edge technology. You position your organisatio

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ready for the trigger point by finding tools to apply with existing technology.

This is why Rosabeth Moss Kanter said: “The problem before us is not to invent more tools but to use the ones we already have.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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