Tags |
|
|
Links |
|
|
Advice You - 10 Lessons From Don Corleone
If you’ve ever seen the Godfather, I’m sure you remember
the phrase, “Mak
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
e them an offer they can’t refuse.”
In the movie it often meant an offer
In the movie it often meant an offer
; 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
backed by force. In
real life the situation is often more complex. The mo
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
dern
day Godfathers seldom need violence. They know the wants,
needs and
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
desires of their target market.
There’s a lot we can learn from the mode
There’s a lot we can learn from the mode
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
rn day Don
Corleones.
1. There’s more money to be made tapping into a ho
1. There’s more money to be made tapping into a ho
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
t target
market, than there is trying to create one.
2. They’ve often re
2. They’ve often re
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
placed force by giving more at a better
price than their competition.
3.
3.
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
They understand the value of a consumable product that
has to be continu
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
ally reordered.
4. They understand the power of branding. They let others
4. They understand the power of branding. They let others
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
spread their name for them.
5. They understand the value of rewarding t
5. They understand the value of rewarding t
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
heir top
earners.
6. They are always looking for ways to diversify,
a.
6. They are always looking for ways to diversify,
a.
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
By expanding their marketplace.
b. By searching for other hot products.
b. By searching for other hot products.
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
7. They make it easy to buy.
8. They reward themselves with their profits
8. They reward themselves with their profits
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
.
9. They’re flexible. They don’t stick with a product or service that i
9. They’re flexible. They don’t stick with a product or service that i
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
sn’t profitable.
10. They know that enjoying their profits gives them an
10. They know that enjoying their profits gives them an
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
incentive to earn more.
So, if you’re interested in building your busine
So, if you’re interested in building your busine
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ss, take a
lesson from Don Corleone. You don’t have to be a gangster
to
.
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
make more money.
Wishing You Success,
John Colanzi
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Wishing You Success,
John Colanzi
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
" href="http://www.thesimplesystem.net">http://www.thesimplesystem.net
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/5099/adviceyou-10-Lessons-From-Don-Corleone.html">10 Lessons From Don Corleone</a>
BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/5099/adviceyou-10-Lessons-From-Don-Corleone.html]10 Lessons From Don Corleone[/url]
Related Articles:
Four Brand Identity Myths That Will Hurt A Small Business
I Don't Want To Pay For Auto Insurance! What's It For Anyway?
Intergenerational Dynamics in Your Workforce - Challenge or Opportunity?
Bookmark it:
|