Advice You - Business

Americans spent almost as much in two months on holiday items as they did all y

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

ear on charitable giving in 2004. Holiday retail sales for November and Decembe

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

Examples of combination products may in

r 2004 in the general merchandise category were up 5.7 percent, totaling roughl

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

y $229 billion, according to the National Retail Federation. Charitable giving

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

for 2004 topped $248 billion.

Why am I telling you this? Because once again I'

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

Combination pro

m promoting Holiday for Charity, which encourages more donations to charity.

T

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

he program works like this:

1. ask friends, family and business associates to

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

donate to a charity instead of buying you holiday gifts

2. sell your gifts onl

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

ine at eBay's GivingWorks and donate the proceeds to charity

3. register and s

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

hop at iGive, whose merchants donate a portion of each transaction to the chari

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

ies of your choice.

4. offer to do volunteer work in lieu of buying holiday gi

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

Following aspects would a

fts

5. donate directly to charity in lieu of buying holiday gifts for clients

dd to the challenges in developing combination products:

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

and customers

Giving to charity in the names of your clients instead of buying

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

holiday gifts is a good way for a business to establish itself as an upstandin

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

g corporate citizen. Charitable giving is tax deductible and - when properly do

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

ne and communicated - helps a business position itself positively in the eyes o

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

Professional from academic institutions, pharmaceutical industries, health care indust

f its key audiences.

Recent research indicates that 80 percent of Americans ha

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

ve a more positive image of businesses identified as supporting charitable caus

.

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

es. Two-thirds say they would likely switch brands or retailers to one associat

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

Companies that provide selfless information through particip

ed with a good cause.

So, give it up this holiday season and get some goodwill

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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