Advice You - Business

With the new school year approaching fast, it is time for schools to set their fundraising efforts for the upcoming year. Th

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

ere will be fundraising companies literally knocking down your door – but how do you know which products to promote, which 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

ompanies to choose and which events to host?

The easiest thing to do is separate them into two categories, fundraising even

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

s and product fundraisers. Most schools usually host several of each kind throughout the year. For this article, we'll be fo

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

cusing on how to choose a product based fundraiser that will work the best for your participants.

Elementary School Fundrai

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

Combination pro

ers

Elementary schools are the most limited in product based fundraising because the average age of their sales force is be

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

tween 5 and 10. This means you need a simple fundraiser that can be done by even the youngest of participants. Fundraisers w

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

here you take orders seem to work best for younger children – the simpler the form the better. Many fundraising companies of

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

er one page flyers that you can use to sell products. While this limits the amount of products you can offer, it simplifies

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

the sales process and makes it easier for the kids. Candle fundraisers usually work well with this age group, as they only f

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

ature one to a few different products and are available in a variety of scents; giving customers' choice, but not enough cho

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

Following aspects would a

ice to confuse the kids.

Middle School Fundraisers

Middle school students range in age from 10-12 and can do more complica

dd to the challenges in developing combination products:

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

ted fundraisers, but, at this age, it may be smart to stick with "order taking" fundraisers and not have them carry inventor

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

on hand. There are many brochure fundraising companies and brochure sales can be done for a wide variety or products – ever

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

ything from coffee to pizza. Try to keep the brochure process simple and explain payment procedures in detail.

High School

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

undraisers

The age of high school students usually varies between 13 and 18, which allows you to choose from a wider range

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

Professional from academic institutions, pharmaceutical industries, health care indust

of fundraising options. Candy bar fundraising can be a great success for this age group. Not only will the product be welcom

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

e and purchased by the sale force themselves, they are simple to do, and 13 to 18 year olds can keep track of money and inve

.

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

tory. Parents can easily do the same at their place of employment and local events (such as a book club).

Whatever product

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

Companies that provide selfless information through particip

you choose for your product based fundraisers this year, be sure to give your sales force incentive to sell their hearts out

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 - Ideas for the Fundraising Season

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