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Advice You - The Three Pillars of Successful Resource Management
The first part of this article assumes that your company is listed on the stock-exchange. Please stay tuned...
As consumers we are con
As consumers we are con
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
tinuously seduced by advertisements. And luckily we all know what we want and what we need so we can handle this continuous stream of 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
Examples of combination products may in
allenges.
Perhaps less sexy but even so often, your business is seduced in the same way. You should buy this, you should go for six si
Perhaps less sexy but even so often, your business is seduced in the same way. You should buy this, you should go for six si
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
gma, implement CRM, open in a new market, develop a new product, add additional services, and the only thing you know for sure is that
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
our budget is limited.
One mistake and your opponent will catch up easily.
So how would you minimize business mistakes?
The first pi
One mistake and your opponent will catch up easily.
So how would you minimize business mistakes?
The first pi
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
llar is about minimizing these mistakes. It is the pillar of credibility.
You know that when you company is listed on the stock exchan
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
e, that all actions are observed by the market. If your company announces a business strategy that is not credible, the stock price wil
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
l decline (which will impact future resource management opportunities).
The first pillar of successful resource management is therefor
The first pillar of successful resource management is therefor
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
that you should obey to credibility. All actions should be credible.
How would you know that this will be true?
Think again about th
How would you know that this will be true?
Think again about 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 consumer market. You are offered a cream that will rejuvenate your skin (they say). Do you buy it?
- No, because you are only
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
twenty!
Yes, because you are nearly sixty and you will look like you were forty again (they say).
No, because the
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
offer doesn’t fit your profile; you don’t care how old you are perceived by others, you are still young inside.
Why is it
Why is it
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
o easy to manage your personal budget, but for your team or organization you have to struggle so much?
That’s because your company mig
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ht suffer an identity crises.
The second pillar is about your company profile. About style and character. The last defining the credib
The second pillar is about your company profile. About style and character. The last defining the credib
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
lity of the first.
We all want to look like George Clooney or Brad Pitt, but we are just Peter, Warren or George.
Once you know what
We all want to look like George Clooney or Brad Pitt, but we are just Peter, Warren or George.
Once you know what
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
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
actions and decisions fit your organizational profile your organization is ready for the next pillar. Discipline.
If you have found ou
If you have found ou
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
what rules have been successful and your credibility is accepted by the market, it comes to the discipline to act and organize accordi
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ngly.
If your company is not listed on the stock market, the same will still apply. Your actions should be credible for both managemen
If your company is not listed on the stock market, the same will still apply. Your actions should be credible for both managemen
.
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
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
and employees. You can communicate what is coherent and credible. The real difference a company makes is not about flashing advertisem
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ents and new year’s speeches.
The real difference is in the discipline to act according to this (corporate) identity.
© 2006 Hans Boo
The real difference is in the discipline to act according to this (corporate) identity.
© 2006 Hans Boo
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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