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Advice You - Building A Better Brand in the New Year
The new year is well underway and many of us have been using the start of the new year to revie
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
w, refine and/or restart various things in our businesses. For this article I want to concentra
; 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
te on writing to encourage you to seize the opportunity to look at your branding for this year.
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
First, let’s define branding. Branding is the process of building a favorable image for a pro
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
uct or company that differentiates it, in the minds of prospects and end users, from other comp
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
etitors. Secondly, I hope you will agree that branding is strategically important to you and yo
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
ur business. And thirdly, if you have not thought about branding, I hope this article will caus
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
e you to start thinking about it for you and your business.
I suggest we employ some strategic
I suggest we employ some strategic
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
thinking here. I want you to ask yourself some critical questions about your branding efforts l
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
ast year and this year. Okay – here are my questions to you.
Did you consciously think about d
Did you consciously think about d
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
efining your brand at all?
Did you consciously use any branding techniques last year?
Did you
Did you consciously use any branding techniques last year?
Did you
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
set branding goals last year?
If you did not set branding goals, why not? If you did set them
If you did not set branding goals, why not? If you did set them
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
what did you achieve?
Why did you achieve some goals, but not all goals?
What were the lesso
Why did you achieve some goals, but not all goals?
What were the lesso
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
ns learned from your efforts?
What will you do to change the outcomes of your efforts this yea
What will you do to change the outcomes of your efforts this yea
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
r?
Once you have answered these questions, the next steps will be to:
Define your brand, if n
Once you have answered these questions, the next steps will be to:
Define your brand, if n
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
ot already defined.
Revise the definition of your brand if necessary.
Set your branding goals
Revise the definition of your brand if necessary.
Set your branding goals
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
for this year using your Strategic Plan’s vision, mission and core values as a guide.
Break do
Break do
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
wn each goal into individual tasks to achieve the goal.
Assign due dates for each task.
Monit
Assign due dates for each task.
Monit
.
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
or the timely completion of each task.
Hold yourself and other leaders accountable for the com
Hold yourself and other leaders accountable for the com
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
pletion of each task.
Act on the above and you will be building a better brand in the new year
Act on the above and you will be building a better brand in the new year
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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