Advice You - Business

Have you ever worked in a business, which had two types of clientele? One, which was

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

their standard locals and one, which was a massive rush clientele during certain nigh

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

Examples of combination products may in

s, such as Friday or Saturday?

Well, recently I interviewed a gentleman going into t

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

e restaurant business and sure enough he worked in a restaurant as a manager, which d

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

d $800,000 in sales it first year and it was a rather small chain. But each of their

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

Combination pro

teakhouses were across the street from stadiums, you know baseball, football and bask

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

tball stadiums.

The local crowd was dismal during the week, hardly anyone there actu

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

lly, but it is growing now. Yet, after the big events everyone was there as in 2500 p

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

ople or more and they had to move the tables in 20-30 minutes and it was jammed and p

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

cked in. They even had to seriously worry about the fire codes as people just kept ja

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

ming themselves in.

How do you manage a business like that and maintain Customer Ser

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

Following aspects would a

vice while still handling the Massive Rush? Well they had different policies for the

dd to the challenges in developing combination products:

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

rowds than with the locals that is for sure. For instance if you claimed that you wan

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

ed your steak rare instead of well done, as it was prepared well tough (literally) lu

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

k, as there are two people waiting for that table outside.

Additionally they had to

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

lean and restock the bathrooms every 5-10 minutes and it was utter chaos, but people

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

Professional from academic institutions, pharmaceutical industries, health care indust

oved it, because they worked hard to maintain the customer service a good level, not

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

uper high, but enough to keep people happy.

You know what? They may double their sal

.

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

s next year, partly due to more home games scheduled, but also because people are sat

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

Companies that provide selfless information through particip

sfied and they keep coming back and telling friends. Please consider all this in 2006

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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