Advice You - Business

The modern day franchise systems have evolved and therefore the franc

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

hise relationship has changed. It used to be in the franchise relati

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

Examples of combination products may in

onship that franchising companies worked more like dictatorships and

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

hey worked best when the dictator was the benevolent type. Franchiso

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

r founders were strict but they would do anything for their franchise

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

Combination pro

teams and those are the franchises that we know of today as the great

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

s.

Dunkin' Donuts, McDonald's, Wendy's hamburger and Domino's pizza;

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

with each one having a superstar founders who led the charge. Today

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

he best franchises run through collaboration and working together gat

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

hering as much input and data from the operational franchised outlets

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

as from the franchisor's executive teams. The new mantra is; we are

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

Following aspects would a

all in it together; and together we will succeed.

These days, franch

dd to the challenges in developing combination products:

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

isees want to believe that they have a say in what happens and a vote

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

Franchisees often form franchisee Associations, which give constant

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

feedback, recommendations and advice to the franchisor. This tends

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

o work well and when the franchisees are successful so too is the fra

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

Professional from academic institutions, pharmaceutical industries, health care indust

nchisor.

When the franchisor grows and builds the brand name with th

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

e help of the franchisees everyone wins. Therefore the goals are mut

.

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

al and that in a nutshell is today's modern franchise system where th

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

Companies that provide selfless information through particip

e franchise relationship is everything. 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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Advice You - The Franchise Relationship; Franchisors and Franchisees Working Together in a Common Cause

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