Advice You - Business

This article could well be just the title.

The marketing tip that you will take away

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

for deep thoughts today is this,

Are you doing targeted marketing?

Let us take thi

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

Examples of combination products may in

s marketing tip a step further, and to share with you a story that I heard.

In fact

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

it is an email that I received from my distant mentor.

He was in town recently to co

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

nduct a Targeted Traffic Generation 1-day workshop where he shared wholeheartedly on

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

Combination pro

his daily routine and his action plans.

That aside, he mentioned about being introdu

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

ced to the King Of Fruits called Durian.

I am not sure if you are familiar with Duri

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

n, it is a fruit the size of a coconut, green in colour on the outside with spikes. A

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

nd it contains about 6-9 durian pieces depending on the size of the entire fruit. Eac

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

h individual piece has a huge seed at its core with yellow “meat” of the fruit surrou

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

nding it.

The main point of discussion is it has a strong aroma, it is either you lo

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

Following aspects would a

ve it or you hate it. And my distant mentor falls into the latter category.

Well, he

dd to the challenges in developing combination products:

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

is definitely not in your target market when it comes to the durian fruit industry.

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

Hence as you read this article and reflect on the marketing strategies that you have

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

implemented in your business.

Bear the cue in mind, “Are you doing targeted marketin

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

g?”

How do you know if you are doing target marketing?

Well, that’s when market res

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

Professional from academic institutions, pharmaceutical industries, health care indust

earch comes in and the simple of all that you are capable of doing is ASK.

Ask you c

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

urrent customers what made them want to join you in your business.

Asking is just on

.

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

e method, you can judge by the results or specifically profits that you have made.

T

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

Companies that provide selfless information through particip

ake this marketing tip seriously, and you can be sure that you are on the right track

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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