Advice You - Business

In order to have a properly managed business, it is necessary to manage all aspects of the business. It is c

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

ommon for the average small businessman to have a computer to maintain records of sales, customer base infor

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

Examples of combination products may in

mation and expenditures.

We spend lots of money to count our beans and get trained on the latest methods of

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

the best ways to so do. However, my perspective says that getting the beans in the first place is Game One.

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

You've got to have something to count, or that expensive hardware, software, and training is not only impote

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

Combination pro

nt, but also, probably not able to be paid for! "Nothing happens until a sale is made!"

There have not been

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

very many places to go to get a full view of the marketing options, and thus the importance of measuring th

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

different choices to test and monitor. What all this is pointing to is the importance of measuring the frui

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

ts of every effort to acquire business. Even if you use only "location" or "newspaper" advertising, it is pa

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

ramount for you to ask, "how did you hear about me?" Otherwise, you have no useful information to manage.

I

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

know a cooling contractor who set up his computers so that every incoming call had to have the "how did you

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

Following aspects would a

hear about us" response entered into the blank or the person taking the information could not advance on the

dd to the challenges in developing combination products:

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

screen. What a deal! He has complete information on how many referrals, repeat customers, radio, direct mai

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

l and phone book responses he gets, and when they came in. He could see that 15 call-ins around 12:00 from t

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

e radio ad (that ran at 12:00) were the direct result of that ad. What a tool! Then he would change the ad,

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

to test possible improvements, and measure the difference.

Now that's accountable marketing! Marketing has

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

Professional from academic institutions, pharmaceutical industries, health care indust

not been the strong suit of most small businesses. People, by nature, do not like to attempt things that the

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

don't know much about or are not very skilled at doing. However, is there any part of your business respons

.

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

ibilities more important than controlling your income?

"You can't effectively change something that you can

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

Companies that provide selfless information through particip

't measure" is worth considering, with the priority and resources attributed to other parts of your business

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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