Advice You - Business

One of the hardest types of companies to run is a franchise system. Thi

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

s is because the founder of the franchise company must be a caring perso

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

Examples of combination products may in

and care about the success of their franchisees. But at the same time

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

they must also be tough love and act much like a parent. On one hand th

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

y have to act like a grandparent and provide wisdom and leadership for t

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

Combination pro

e franchised outlets and on the other hand they must enforce the standar

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

ds and consistency and quality than are outlined in the confidential ope

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

ations manual.

Franchisor founder leadership is not easy as the company

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

grows the franchisor founder is not as easily accessible as they were in

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

the beginning and this can cause the original franchisees who put blood

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

sweat and tears into the system to help it succeed lose faith. As the

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

Following aspects would a

ranchise system grows more leadership must be put into place to handle a

dd to the challenges in developing combination products:

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

ll the issues of maintaining the standards of the franchise system.

If

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

he standards of the franchise system are not maintained this can lead to

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

degradation of the franchise brand name and that will hurt both the fran

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

chisor in future sales of franchises and it also hurts the sales of the

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

Professional from academic institutions, pharmaceutical industries, health care indust

ranchisee or franchised outlets who is trying to sell more products or s

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

rvices to the consumer and their customers. It is not easy running a fr

.

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

anchise system and therefore it makes sense to study these things before

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

Companies that provide selfless information through particip

attempting to become a Franchisor Founder. Please consider 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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