Advice You - Business

In a small franchising company which is growing fast and always under a cash flow crisis, it

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

is essential to keep all franchisees profitable to prevent lawsuits, maintain royalty income

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

Examples of combination products may in

streams and attract new franchisees who see their success in the market place.

Having been a

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

Founder of a Small Franchise Company, which grew rapidly into a Medium Sized Franchise Compa

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

ny prior to my early retirement and sale of the company, I can tell you that the most importa

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

Combination pro

t thing is to have successful franchisees in the market place. One way I achieved this was co

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

nstantly motivating the team. Here below is an excerpt of one of the letters I had put out on

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

our Intranet System, which illustrates one strategy of motivation, which worked so well for

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

our franchise team;

“If you wish to have a new car by the second quarter, then write down th

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

e type of car, options and color and the date you wish to get it (pick Yellow). Also write d

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

wn the amount of money you will need to afford it. Then the amount of increased business you

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

Following aspects would a

will need to buy it and break it down by month. If in the third quarter you want to get laz

dd to the challenges in developing combination products:

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

er eye surgery or take a vacation write down where and how much. If in the forth quarter you

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

want to increase sales by 130% then back it to the first quarter and the then the second and

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

third to figure out the increase you will need to achieve each month to get there. Remember

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

that we need this information to help you achieve your goals, if we do not know what goals yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

u have it will be difficult for us to give you assistance towards those goals.”

I sincerely

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

hope my experience, observations and knowledge in the motivating of franchisees and franchise

.

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

teams gives you insight to winning in the market place. Please consider this in 2006, becaus

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

Companies that provide selfless information through particip

e you know what? It works and it is not in the text books, had to learn this one the hard way

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/19384/adviceyou-Case-Study-Motivating-Franchisees-in-Medium-Sized-Franchising-Companies.html">Case Study; Motivating Franchisees in Medium Sized Franchising Companies</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/19384/adviceyou-Case-Study-Motivating-Franchisees-in-Medium-Sized-Franchising-Companies.html]Case Study; Motivating Franchisees in Medium Sized Franchising Companies[/url]

Do you get stressed when you see a company logo printed across the front of a spherical stress ball at a trade show?

Ho Hum is not something you can take to the bank! Building a recognizable brand offers measurable results, measurable through increased response, increased traffic, and increased attention.

All job interviews come down to only a few basics. Here is a quick checklist of the 8 most important elements that you need to have covered so you can ace almost any interview you face.

Tags

Links

Advice You - Case Study; Motivating Franchisees in Medium Sized Franchising Companies

Related Articles: