Advice You - Business

Why are you in business? Is it for the fun of it, or are you hungry for pro

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

fits?

That might look like a dumb question, but it’s worth considering if

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

Examples of combination products may in

ou are working hard in an activity you like but where the return for your e

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

ffort doesn’t satisfy you.

My dad ran an engineering company for 28 years.

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

When talking about it he would often say that his products had ‘great poten

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

Combination pro

ial’. But the years went by and that potential remained elusive. The sales

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

stayed flat until he finally sold up. But the new owner had a different app

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

oach and made far more money building on the platform of what my father had

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

begun.

How come one succeeded in making good profits and the other didn’t

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 answer lies in understanding the difference between a ‘Product-led’ an

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

a ‘Sales-led’ approach.

Product-led describes a situation where people ma

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

Following aspects would a

ke their main focus the development of a technically superior item – higher

dd to the challenges in developing combination products:

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

performance, longer-lasting, easier to use etc. They may be so occupied wit

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

h this quest that they largely ignore the sales dimension.

Sales-led organ

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

sations ask themselves different questions – ‘How many customer contacts di

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

we make this week?’, ‘What are we doing to find more of them?’, ‘Do our ex

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

Professional from academic institutions, pharmaceutical industries, health care indust

isting clients have additional requirements that we can help them with?’.

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

t's unwise to neglect either factor, a strong business balances both. How d

.

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

oes yours measure up?

You will find a source of specialised sales hints fo

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

Companies that provide selfless information through particip

‘techie’ companies in the ‘Selling for Engineers’ manual at the link below

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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Right from the days of the original gold miners till present times, Denim continues to be the fashion staple and world would come to a halt without it as stated by international fashion world. Denim trends are undergoing steady changes globally today, some extremely different resulting in an assortment of designs, purposes and certainly the inspiration. Denim has excelled the boundaries still one thing presently regulates Denim world a calling to its origins, designs motivated by hard-wearing work clothes.

Preference and margins cannot be found in product enhancements and efficacy — these two improvements are simply the cost of doing business. In today’s crowded market space your preference and margins stem directly from your brand.

Some experts believe that the first few years of life are the most formative. Others suggest that the early teens are the most influential. Personally, I’m not so sure; there seems to be some good logic in both views. However, regardless of whether my personality was crafted as an infant or a teen, I can say one thing with confidence: I learned some very important things about training in kindergarten.

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Advice You - Why Sales - Led Beats Product - Led If You Want Profit

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