Advice You - Business

Want a creative way to boost your photography business while helping out the community? Org

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

anize a charity portrait event!

What is it?
A charity portrait event is where you sche

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

Examples of combination products may in

dule portrait sessions and donate a portion of the proceeds to the charity of your choice.

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

How to do it
1. Choose your charity.

2. Contact the charity and describe your propos

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

al.

3. If the charity accepts your offer, ask them to send you a letter stating that your

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

Combination pro

portrait event is official.

4. Set the dates for the portrait event (as little as one day

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

to a month or more – you decide!)

5. Decide on pricing and what will be included. An exam

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

ple would be a half hour session and one 8x10 for $100. You can decide on what will work be

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

st for you. You also need to decide on how much the charity will receive (25%, 50% or more)

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

. You could even donate the entire $100, since most of your money will be made with print r

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

eorders. Keep good records on how many sessions you did for the charity so that you will kn

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

Following aspects would a

ow how much of the proceeds you need to send them.

6. Advertise your event. A great way t

dd to the challenges in developing combination products:

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

o do this is to submit a press release to your local television stations and newspapers. Ho

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

pefully you will receive free press coverage by doing this. If you don’t want to write the

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

press release yourself, consider hiring someone to do it for you. There are many online com

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

panies who offer this service. You might also consider doing a postcard mailing or placing

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

Professional from academic institutions, pharmaceutical industries, health care indust

an ad in local publications.

7. When your event officially ends, send a check to the chari

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

ty. Make sure to get a receipt for accounting and tax purposes (and also to prove you sent

.

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

the funds to the charity as promised). 8. Send another press release after the event stati

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

Companies that provide selfless information through particip

ng how much you raised for your charity. Mention any upcoming charity portrait events, 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 - Boost Your Photography Business With A Charity Portrait Event

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