Advice You - Business

You would not be working at a nonprofit if there was not a passion for your mission that compensated for the sacrifices in salary and other benefits you could probably earn i

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

n the commercial world. That says something about the kind of people we are. Most of us are:

* Trusting. We cannot imagine that there might be bad people in our idealized

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

Examples of combination products may in

world;
* Optimistic. How could we survive if we did not believe we really could make a difference?
* Sympathetic. We are mostly attracted to needy causes or peop

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

le;
* Non-confrontational. We mostly like consensus and seek agreement.
* Collaborative. Our comfort level is with working as a team rather than going it alone.

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

These are admirable and useful qualities to have in the nonprofit world. However, there are other people in your industry who do not fit this description. They operate more

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

Combination pro

like they were in competition with everyone. Instead of trusting, they are wary. Instead of being optimistic, they are fearful of failure. Instead of being sympathetic, t

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

hey are self-promoting. Instead of being non-confrontational, they fiercely stake out and defend their turf. Instead of being collaborative, they prefer to work alone isola

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

ted from their colleagues.

These people see their nonprofits being in competition with every other nonprofit – and they are absolutely right. However, the qualities they br

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

ing to the contest can often be disruptive and ugly. If you do not acknowledge this, you will lose donor dollars, volunteer commitments, membership, and patronage.

This art

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

icle will describe the competitive environment in which nonprofits uncharacteristically find themselves. A subsequent article will deal with the strategies you need to consi

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

der in order to meet this challenge.

Where is the competition? It is coming at you from all directions:

* Geographic – Look at the other nonprofits in your town. Are some

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

Following aspects would a

of you competing for the same resources? The problem is that if a donor decides, for example, to set up a charitable trust in favor of the hospital, it is unlikely they wil

dd to the challenges in developing combination products:

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

l consider a similar commitment to you. If the local library sponsors a town fair for their benefit, it means that you should not expect great success duplicating the experi

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

ence. If a national charity prevails in a time of particular need, be it a tsunami or Katrina, people will channel their beneficence to them rather than you.

* Category – I

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

f you are a museum, you are in competition with other museums. For example, if you are a local historical society, your constituency may reduce their aid to you if they spen

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

d a weekend in Washington, DC at the Smithsonian. You are also in competition for support from your County Museum, State Museum, etc.

* Perception – As other nonprofits pro

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

Professional from academic institutions, pharmaceutical industries, health care indust

mote themselves in newspapers, magazines, newsletters, tv, and radio, you will find their name recognition increasing at your expense. Nonprofits need to recognize the impor

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

tance of promoting their brand.

* Economic – If other nonprofits can outspend you on technology, lure talent with higher salaries, extend their markets by advertising and pu

.

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

blic relations, and spend money on consultants, they are positioning themselves to enjoy the dividends of these investments.

There are some ways that you can beat the compet

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

Companies that provide selfless information through particip

ition, and create a better environment for the entire nonprofit community. We deal with these in the article “21 Things You Must do to Stay Competitive in the 21st Century."

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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In this article we take a look at different ways doing interviews can grow your business.

More and more people are turning to the intenet to find and/or offload specific items.

Mining Gold is hard work you know? There are many people in the US to this day who still mine for gold. Did you know that in many countries people have protested mines, gold and silver are easy ones to protest because it is associated with greed as those minerals are also considered legal tender.

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