Advice You - Business

Many people want to get out of corporate America and get into their own franchise business as pa

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

rt of their American dream. They would rather control their own destiny than be controlled by c

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

Examples of combination products may in

orporate America. However, sometimes that American dream can turn into an American nightmare.

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

f course franchising has a lower failure rate and someone who starts their own business from scr

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

atch, but still the franchise buyer must be wary of the Franchisor's methods and motives and con

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

Combination pro

ider the ethics of those running the franchising company.

Many franchise systems could care les

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 how much money the franchisee makes, they only care how much products they sell to the franchi

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

ee, which then in turns sells those products at retail to the customer.

For some franchising co

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

mpanies is only a method of distributing their products into the marketplace and a way to propel

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

growth of their brand name. Franchising doesn't work very good for that and it can or good for

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

the franchisee as well if the franchising company is ethical and forthright and cares about thei

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

Following aspects would a

r franchisee team.

I have seen a few franchising companies which have no profitable outlets and

dd to the challenges in developing combination products:

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

very few which ever achieve return on investment or breakeven point. This is a common scenario t

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

hat I have seen in franchising. I think franchisors should be more noble, due to the incredible

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

esponsibilities. Yet the most noble are often the most attacked by their competition, a franchis

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

e lawyers and even government regulators.

There is one fast food franchise, which costs about $

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

Professional from academic institutions, pharmaceutical industries, health care indust

68,000 I think to open and unfortunately the average store only makes $1,600 per month profit? T

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

hat is scary indeed. If that is all it makes you are better off to keep your corporate job, we

.

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

ertainly will pay you more than that. Ethical Franchisors are serious about their business mode

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

Companies that provide selfless information through particip

l and the profitability of their team members the franchisees. 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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Advice You - Ethics in Franchising Considered

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