Advice You - Business

With access to cheaper funds through GDR/ADR issues, Euro loans etc. big corporations are shying away from

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

bank finance. This trend of disintermediation among corporate has caused the banks to focus on Retail por

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

Examples of combination products may in

tfolio for growth. Retailing makes sense from Risk Management perspective also since it reduces Concentrat

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

ion Risk. With the focus on Retail Banking, banks are giving market segmentation a serious look to identif

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

y the differences between groups of potential customers and to decide which products can be served to whic

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

Combination pro

h groups.

There are the following groups of banking customers: Self-Directed Planners. Well educated, sl

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

ightly above average income, seek financial information from variety of sources and retain control of fina

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

ncial matters, frequently use financial products, open to borrowing, accept reasonable risk.

Simplifiers.

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

Less educated, less affluent, older, do not seek financial advice often, use fewer more basic products, p

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

refer local banks, least open to borrowing, tolerate low risk only, not sensitive to price, prefer face to

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

face contact.

Fickle Shoppers. Average income, predominantly non working female, do not seek financial a

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

Following aspects would a

dvice, use fewer more basic products, open to borrowing particularly on credit cards, accept reasonable ri

dd to the challenges in developing combination products:

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

sk, not so sensitive to price, prefer remote channels – specifically ATM or telephone banking.

Advice See

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

kers. Well educated, affluent, predominantly male, seek financial advice, heavy users of financial product

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

s, higher transaction frequency, tolerate higher risk, very sensitive to price, prefer face to face contac

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

t.

When it comes to segmenting industry for lending Small & Medium Enterprises are the current favourites

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

Professional from academic institutions, pharmaceutical industries, health care indust

of both banks and RBI.

There is increasing talk of banking sector getting transformed from large number

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

of small banks to small number of large banks. The presumption is that there is a definite premium on size

.

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

. But as long as they have a niche in customer service, small banks will continue to exist and thrive sinc

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

Companies that provide selfless information through particip

e banking is no assembly line manufacturing and is all about building and fostering customer relationships

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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