Advice You - Business

Let's talk about how many companies use third party distribution channels to leverage their overall organiza

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

tional resources to increase sales. In today's day and age, a lot of companies are using third party channe

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

Examples of combination products may in

s for reselling and supporting their products. Those channels include OEMs, system integrators, value added

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

resellers, manufactures reps, agents, and distributors, among others. And they are used both domestically a

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

well as internationally to push product out through multiple channels to their target markets. Yet many co

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

Combination pro

mpanies view this channel activity as being something that's free and easy to attain and don't necessarily f

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

cus the right resources on really developing and managing the right channels that would optimize their sales

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

performance.

We see a lot of companies that set up and sign up third party resellers for their products, bu

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

gain very, very little actual sales performance from them. The reason for this is really twofold. First of

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

all, without a very rigorous selection process, signing up a third party channel doesn't necessarily lead y

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

u to success, just like hiring a poor sales person doesn't necessarily mean you're going to sell more. Numb

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

Following aspects would a

r two, once signed up, many companies make the mistake of thinking third party channels will sustain themsel

dd to the challenges in developing combination products:

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

es on their own, with very little support.

So, we're going to talk a little bit about channel selection, an

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

d channel management to optimize sales performance in the next two discussions. The key here, though, is to

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

remember that third party channels can be a very powerful sales tool and a very powerful mechanism for getti

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

g your products to market faster and at lower fixed costs, that going through direct sales channels and have

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

Professional from academic institutions, pharmaceutical industries, health care indust

the potential to extend you into markets that you could not otherwise reach on your own, by virtue of the sp

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

ecialization and the location of different resellers in your target markets. So gaining market coverage thr

.

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

ugh third party channels is a very compelling argument. The issue is, making sure that you're not just sett

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

Companies that provide selfless information through particip

ng up channels that are full of empty promises and not actually capable of delivering sales for your company

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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There is much jockeying going on with large corporations and sector shifts in Akron OH. This has effected many other sectors like retail and housing. Housing growth is strong in the suburbs around Akron, especially the North sides. During the last recession housing growth was fine, but urban flight hurt and when Rubbermaid moved to Atlanta to be by Home Depot their major customer, besides Wal-Mart type box stores took out many smaller businesses.

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