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Advice You - Do You Know the Difference Between Commercial and Executive Suites?
If you don’t, it could cost you a lot of money. Particularly if you’re a small business, start-up or a company looking for sh
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
ort-term office accommodations.
At first glance you might say to yourself, “Executive suites sound way too expensi
At first glance you might say to yourself, “Executive suites sound way too expensi
; 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
e for my budget.” But don’t be fooled by a name. If you’re looking to set-up and staff an office, executive office space coul
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
save you as much as 70% over commercial office space.
Executive suites go by several different names. They might
Executive suites go by several different names. They might
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
be called:
Shared Office Space
Temporary Office Space
Executive Office Space
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
They all refer to the basically the same type of money saving, anti-hassle, easy to set up office space that can be found in
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
ost cities in the U.S. and even overseas. They are often located in prestigious office buildings which give you the look of s
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
uccess before your name even goes on the door.
So why are ‘executive suites’ often better than commercial spac
So why are ‘executive suites’ often better than commercial spac
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
?
The word ‘Contract’ is one big difference. Most commercial space requires a long-term contract, which is not
The word ‘Contract’ is one big difference. Most commercial space requires a long-term contract, which is not
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
altogether bad if you’re a well-established company. But many companies don’t want to be tied to an office location for a yea
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
to ten years.
So what’s the answer? Executive suites. The idea was spawned some years ago to answer the needs of
So what’s the answer? Executive suites. The idea was spawned some years ago to answer the needs of
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
small to medium-sized companies. There is no long-term contract. Just a simple rental agreement that provides the office spa
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
e you need for a day, week, month or whatever your requirements. The important thing to remember is that you won’t be locked
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
nto a long-term situation.
Also, you can save money on furnishings and staff
Executive suites s
Also, you can save money on furnishings and staff
Executive suites s
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
pecialize in making things easy. Want your office furnished? You got it. Want a trained receptionist to take your calls and g
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
eet your customers? You’ve got it. And this person won’t be on your payroll.
It all comes down to this. If you wa
It all comes down to this. If you wa
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
t prestige office space with flexible terms that is ready for you to walk in, sit down and start doing business, you need to
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
understand the difference between commercial office space and executive suites.
With executive office space, you
With executive office space, you
.
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
an have the look of an established successful company in a prestige location almost instantly. Plus, you will save a bundle o
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
setup and staffing costs. Executive suites are well worth considering before making any decision on your future office needs
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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