Advice You - Business

Let us stop for a second and talk about time - our own time as an investment. It is neve

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

r enough and while new technology is making things faster instead of increasing - our av

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

Examples of combination products may in

ilable time is constantly decreasing. And this happens to our consumers as well - they f

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

ce the same challenge.

Their time is becoming a scarce resource, which they are becomin

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

very careful where they are investing it in. And if you start looking at your time, at

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

Combination pro

onsumers time in terms of investment - the whole dialogue changes. Because then the old-

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

ime concept of "passing time" be it in front of a TV or anywhere else for that matter is

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

gone.

Time is too scarce to waist it. You have too little of it to afford to do that. A

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

d this is when we as consumers, all consumers become very careful how they "spend" it an

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

on what. Because nowadays new technology offers us a choice - to sit in front of the TV

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

zapping from channel to channel in search of what someone else have chosen to show us to

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

Following aspects would a

night or knowing what we are interested in up to the point where we know that the precio

dd to the challenges in developing combination products:

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

s 1 hour of free time we have tonight we would like to invest in the fall - winter 2007-

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

008 fashion show of Dolce & Gabbana - because this is exactly what we would like to see.

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

And it is becoming easier and easier to do that: be it on YouTube or Google Video – the

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

consumers’ choice becomes to either face the TV screen or the computer screen – that sim

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

Professional from academic institutions, pharmaceutical industries, health care indust

le. But then it is also a question between passively / reactively watching the programmi

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

g choices of someone else or proactively knowing what we want and going for it.

I assur

.

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

you that more and more consumers are going to treasure their time and become very caref

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

Companies that provide selfless information through particip

l where they invest it in. Are you prepared to encounter them when they make that choice

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/25130/adviceyou-What-Is-The-Cost-Of-Consumers-Time.html">What Is The Cost Of Consumers Time</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/25130/adviceyou-What-Is-The-Cost-Of-Consumers-Time.html]What Is The Cost Of Consumers Time[/url]

Learn the secrets to finding the best advertising jobs online. Find thousands of hidden advertising jobs by knowing where to look.

The success of any company depends on productivity of its employees, their experience and willingness to work and complete work properly and in according manner. There have to be certain aspects to motivate any worker to produce better results and approach work with responsibility and positive attitude. A lot depends on the experience and knowledge the workers have. Thus companies must create certain environment for their employers as well as motivate them to self-development and further education. Appreciation of the work done is a very important factor in this case, so it is sufficient to create all the conditions to train and educate workers if you want them to bring certain input into business. You may hire a very professional manager but he will need to gain relevant experience in the specific area of business this company leads. Thus we come to conclusion that educating your staff is the first step to success and growth of the company itself.

Whilst there is a lot of lip service given to innovation, the reality is that it often results from competitors making significant gains – competitors who themselves have had to be innovative to challenge existing market leaders. Good examples are i) New Coke, forced into action when it lost market share to Pepsi and ii) IBM forced to change as a result of Microsoft.

Tags

Links

Advice You - What Is The Cost Of Consumers Time

Related Articles: