Advice You - Business

Franchising systems are inherently good for all parties concerne

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

d and that is because when the franchisor makes more money it is

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

Examples of combination products may in

because the franchisees are making more money and are able to pa

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

more royalties into the system. If the franchisor wants to mak

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

more money he needs to help the franchisees become more profita

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

Combination pro

ble and also make money because generally the franchisor will ge

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

a percentage of sales. This is a typical win-win situation. I

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

much like uniting a franchise system in a common cause.

That c

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

mmon cause is success of the franchise system, sales and of cour

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

se profits; after all companies are in business to make money.

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

s the franchise system becomes more popular the brand name is in

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

Following aspects would a

reased and this spreads the word of mouth advertising and helps

dd to the challenges in developing combination products:

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

n the marketability in selling more franchises. The more succes

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

sful the franchisees are the more people want to buy franchises

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

nd the faster the company can expand.

As the franchisor becomes

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

more popular, so too does the brand name, which helps drive more

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

Professional from academic institutions, pharmaceutical industries, health care indust

customers and consumers into the franchised outlets, which incre

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

ases the franchisees profitability. This is why franchise syste

.

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 work so well and why it is important to unite the franchise sy

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

Companies that provide selfless information through particip

tem and a common cause. Perhaps you might 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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Advice You - Uniting a Franchise System in a Common Cause

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