Advice You - Business

At a recent tourism industry conference, the participants explored how effective partnerships could help boost travel to their region.

A long chain o

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

f ‘travel partners’ was involved, including national tourism boards, wholesalers, travel agents, airlines, hotels, taxis and transport companies, rest

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

Examples of combination products may in

urants, tourist attractions, shopping malls, medical facilities, media representatives and even banks.

The panel discussion was lively. The airline s

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

ggested the media should lower advertising rates. The journalist said national tourism boards should provide more up-to-date information. Restaurants

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

sked travel agents to pre-book special meals. Transport companies wanted to tie-in with tourist attractions to ensure all-day bookings.

And everyone

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

Combination pro

anted the media to run only glowing reports and attractive photographs to lure the tourists closer.

These industry professionals were so busy pointin

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

to the others in the room, they missed the most important ‘travel partner’ of them all – a truly delighted tourist.

After all, which is more likely

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

o influence your choice of a vacation destination? A colorful magazine advertisement? Or a colorful story from your next-door neighbor about his fanta

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

tic holiday in the land of his dreams?

Which do you find more credible? A commercial with actresses promising ‘smiles in the air’, or a candid commen

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

from your colleague about the incredible service she receives aboard her favorite airline?

I wonder why the travel industry doesn’t put more emphasi

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

on cultivating positive word-of-mouth from delighted customers as the most important and effective ‘promotional partners’?

For example, premium trav

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

Following aspects would a

elers often receive a basket of fruit and a signed ‘Welcome’ message from the hotel General Manager upon arrival. That’s so common it’s become expecte

dd to the challenges in developing combination products:

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

.

How would the same traveler feel if he received a personal ‘Thank You’ note from the General Manager after returning home? Now that might make a di

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

ference!

How many airlines routinely say ‘Thank you for flying with us’ over the public announcement system, but never make personal eye-contact whil

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

wishing you a truly good day?

Most taxi drivers remember where you are going, but forget how to say ‘Thank you’ when you get there.

Every restauran

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

gives you a menu to read and a bill at the end of the meal, but how many give you a small coupon or voucher as you leave to invite you back?

Every t

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

Professional from academic institutions, pharmaceutical industries, health care indust

urist attraction and shopping mall has restrooms for your convenience, but how many are kept shining clean?

Key Learning Point

Industry partners sho

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

ld cooperate to build a better future. But remember, the greatest partner for your prosperity, progress and promotion is a truly delighted customer.

.

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

ction Steps

The next time you attend an industry conference, notice how much time and attention is paid to companies, politics and well-known industr

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

Companies that provide selfless information through particip

players. Be sure the majority of your time is invested where it gives you the highest return: in attracting, delighting and keeping your best clients

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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Information Technology IT took the lead in developing and implementing frameworks for business collaboration - financial and operating models and legal frameworks.

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