Advice You - Business

According to Alan Kay from Disney's R&D Department: "When you … offer unique value you

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 competition cannot, then you … make headway by giving your ideas away."

You can exp

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

Examples of combination products may in

nd your visibility by disseminating information as one of your prime marketing tactics

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

Don't make the same mistakes most small business people do, and think that the knowle

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

ge and experience you have is widely known, on the contrary, you are the owner of a ca

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

Combination pro

ital asset that others do not possess and have no easy way of possessing it.

There ar

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

many avenues available to you to present what you know. Trade association journals an

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

newsletters are always looking for articles. What organizations are you associated wi

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

h? Approach them with a suggested topic.

On staying current with your clients, you ne

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

d to create information tools such as newsletters or e-mail newsletters that will give

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

you consistent visibility. Clients start to see you as a valuable resource.

Seminars,

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

Following aspects would a

workshops and talks to groups and organizations put you out ahead of the competition.

dd to the challenges in developing combination products:

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

our exposure to your market place helps you to build credibility.

When you make your

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

nformation available to your market place, you position yourself as an expert. Experts

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

produce and sell information. This lets clients sample your information and expands yo

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

r market to people who can't hire you. Products can be given away or can bring you sig

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

Professional from academic institutions, pharmaceutical industries, health care indust

ificant incremental revenue.

The market place of today wants concise information, whe

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

her you record it or put it in print, it will create a definite advantage over your co

.

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

petition. Where do you want to be in the market place? You must put yourself there. Th

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

Companies that provide selfless information through particip

next time a client asks you a question, make note of it - others want that answer too

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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Advice You - Make Yourself Known In The Market Place - Carve Out Your Place

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