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Advice You - Market Leader Has the Ball in Your Court
Only the market leader should consider playing defense. This might
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
seem straightforward, but it’s not.
We’ve never met a company that
We’ve never met a company that
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
didn’t consider itself a leader. But most companies base their lead
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ership positions more on creative definitions than on market realit
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
es. Your company may be the leader “east of the Mississippi on Mond
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
y morning,” but the customer doesn’t care.
Companies don’t create
Companies don’t create
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
leaders-customer do. It’s who the customer perceives as the leader
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
hat defines a true category leader.
Furthermore, we’re talking abo
Furthermore, we’re talking abo
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t the leader, not a leader. There are many leaders in the computer
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
industry, but only one IBM, the true leader in the mind of computer
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
customer and prospects.
Then there are the pretenders to the thron
Then there are the pretenders to the thron
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
. Some business people actually believe you can “will” your way to
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
the top. They believe in the power of positive thinking. First, you
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
have to convince yourself you’re the leader before you can go out a
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
d convince others.
Torpedo the thought. Pretender ship has no plac
Torpedo the thought. Pretender ship has no plac
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
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
e in the development of a marketing strategy. It’s one thing to eng
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ge in hyperbole for the benefit of the sales force. It’s another th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ng to delude yourself into making a strategic error. A good marketi
.
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
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
ng general must have a clear picture of the actual situation so tha
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
he or she can lead from truth. Fool the enemy, never fool yourself
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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