Advice You - Business

I remember starting may career in the late 1970's with an automotive jobber selling car parts.

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

I enjoyed the job more for the discount on parts to work on my 1973 Camaro which was my money p

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

Examples of combination products may in

t at the time. A money pit that I was very okay with...what a great looking and sounding car wi

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

th the chrome side pipes that provided my peers with a great parking lot show at night spitting

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

fire with every quick gear change. Ahh, the days of our youth. The jobber I worked for at the t

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

Combination pro

me was a family owned business and they were very successful for 25 years and most of the money

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

they made went back to the family. I was just an employee but that was okay because of my Cama

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

o.

Looking back on this company today, 30 years later, I remembered something unique and speci

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

l about this two store operation, they had parts for cars that nobody else had. So many times I

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

spoke to customers over the counter who travelled miles to our store for the rare part for tha

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

rare car that no one else had. Or because they knew from experience that no one else would hav

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

Following aspects would a

the part they started with us first. This small but successful automotive aftermarket parts bu

dd to the challenges in developing combination products:

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

siness built a reputation on having in stock, sometimes with an inch of dust on it, the part yo

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

just can't get anywhere else. The company was known as Radex Automotive and at the time Radex

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

as the jobber to beat. Even the big brand competitors could not take their market away because

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

of customer loyalty. Radex found that their differentiation was the hard to find part. There wa

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

Professional from academic institutions, pharmaceutical industries, health care indust

no science as to what unique part to stock, they just did it from 25 years of parts business e

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

perience and they were very good at it.

The question I have for you is; What are you doing to

.

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

make your business unique or different or rare amongst your competition? Let me know your Uniqu

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

Companies that provide selfless information through particip

Selling Point Proposition and how you are getting the word out to your prospects and customers

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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For business persons who want to give emphasis to the image of their business, using catalogs as a marketing instrument is the best thing to do.

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It’s that time again! Perhaps the most dreaded management practice is the annual performance review. Whenever the subject comes up, out comes the groans from both managers and staff no matter what industry or type of company. Many say appraisals are like having a root canal – only more painful. It shouldn’t be. Use this checklist to guide managers and supervisors in preparing, conducting and following through on employee performance appraisal discussions.

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Advice You - Differentiation Can Be a Niche Market

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