Advice You - Business

A note from us…

My favorite time of the year is finally here! No, not spring…NCAA tournament time!

My close friends know I’m wild about college basketball, and especially my beloved Duke Blue Devils. They’ve had a tough year but I still love ‘em. I’

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

ve been a fan even before Coach K arrived on the scene. One of the most exciting things about the tournament is that on any given day, anything can happen. No one’s team is out until the buzzer sounds.

The tournament is exciting on so many levels. No

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

Examples of combination products may in

only is every game full of drama, but there are life and business lessons to be learned too.

Bring a TV to the office to watch all the action and you can tell people you’re studying the leadership and business lessons.

In the meantime, here are 5 less

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

ons you’re sure to learn while watching this year’s tournament.

Go Duke!

The Top 5 business lessons from the college basketball tournament

Business life is full of sports metaphors. But the upcoming tournament provides us with more than just great an

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

logies. There are lessons demonstrated each of the 40 minutes that every game is played.

Here are 5 big lessons every business leader can take from the tournament, even if you’re not a fan:

5. You can’t win without good communication. Business action

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

Combination pro

is fast and furious. The best teams have constant communicate among teammates and leaders. Whether you’re letting team members know there’s a competitor sneaking up behind you, or that you see an opening to capitalize on, winners talk to each other all

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

the time, are encouraging, and are truthful in their talk.

4. When you’re rated high, everybody’s gunning for you. In the field of 65 it’s all about knocking off the big guys. Every team brings its A game on to the court every single day. The lower r

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

nked teams look for and will capitalize on every advantage you give them. So will your competition. You have to play to win every single day you’re at work.

3. You gotta execute, baby! Sure, those dunks make for great highlight film. But the team th

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

t is brilliant at the basics who will win in the long run. You’ve got to convert leads to sales. You’ve got to deliver outstanding service. You’ve got to keep expenses low. You’ve got to keep your cool under pressure. You’ve got to keep your eyes 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

d ears open to capitalize on mistakes when the competition makes them.

2. It’s a team effort. Every team may have one flashy star player, but the real winners don’t count on their star to win the game. Winners know their roles and execute them well.

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

Each team member knows their strengths and uses them effectively. The teammates make the plays that allow the star to shine. If the rest of the team didn’t show up, the star can’t shine. In business it takes every single person executing their role, pu

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

Following aspects would a

ting in extra effort, and allowing the stars and everyone else to do what they do well. Every single person plays a critical role on the court and in the office.

1. Dream big and believe. You can bet those unknown teams from smaller schools like Winth

dd to the challenges in developing combination products:

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

rop and Wright State started the season with dreams of going to the Big Dance. They may not have voiced those dreams outside of their own locker room, but in their very big hearts, the dream was there. When your company opened its doors, the owners did

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

’t sit around thinking of ways to barely get by. They wanted to win. They wanted to be the biggest fish in the pond. When others doubt you can do it, you’ve got to have faith that you can, stare down the big guys, and play with heart.

So watch as man

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

games as you can and absorb the many lessons on leadership, dedication, and passion you’ll witness. Make a commitment to dream big and make those dreams come true.

About Abiah

Abiah is an award winning brand strategy and full service marketing firm t

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

hat helps mid-sized businesses uncover and leverage what makes them unique to become the recognized leader in their market segment. Find out more about them and take the Brand Alignment test at www.abiah.com or call them at 866-982-2424.

To grow your br

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

Professional from academic institutions, pharmaceutical industries, health care indust

nd call 609 653 2233.

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

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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

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

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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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