Advice You - Business

I was given a Blondie cartoon strip recently by a friend who was probably teasing me more about my age than any

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

thing else but it was a very poignant strip. Essentially Dagwood was motivated to buy a video recorder from a r

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

Examples of combination products may in

etailer because the young clerk suggested he was too old for this technology. What intrigued me most about this

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

strip was that the naive young clerk failed to recognize the demographic target market Dagwood represents, ave

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

age age of 39, male and known as the 'Unwired Baby Boomer' which comprise 16% of the population with an Interne

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

Combination pro

t use of 45% and 69% have cell phones. They tend to be married with children and do not have a lot of free time

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 devote to technology which means a more aware clerk should have provided a discussion on the benefits of 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

video camera. In this scenario Dagwood is now left thinking he bought something for the wrong reason and may h

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

ave buyers’ remorse and return the camera.

There are two problems here; the clerk was not properly trained on

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

the benefits of the video camera as it pertains to Dagwood’s demographic and Dagwood made an impulse buy. If yo

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

own a retail business ask yourself how much business you have lost because of poorly trained and young staff a

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

Following aspects would a

nd, if you are a consumer, ask yourself how much information you have about your purchase before you buy?

The

dd to the challenges in developing combination products:

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

most popular method for product information research is the internet. Before you buy, search the internet and r

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

emember that the website that answers all your questions is probably the best place to buy. If you are the reta

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

ler then remember that the consumer is much more educated today because they can research the product on the in

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

ternet before they buy. The consumer is more likely, and this number grows every year, to buy online if a 'shop

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

Professional from academic institutions, pharmaceutical industries, health care indust

ping cart or e-commerce service' is available from the web site that answered all their questions and provided

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

he best comparison information.

If you don't have an online shopping service then at a minimum your site shoul

.

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

d provide dynamic, media rich, and comparative information to the consumer. This will build trust for them to v

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

Companies that provide selfless information through particip

isit your store in person and the longer they are on your site the more brand recognition you will also receive

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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