Advice You - Business

"Small firms often make the mistake of thinking matters such as corporate identity and branding are only for large companies," said Geor

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

ge Kiely, head of EI's design unit. "But every company must project an identity if it is to succeed."

"How companies see themselves is

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

Examples of combination products may in

unimportant, how their market sees them is what matters. That's where design and branding and corporate identity come in.

"When a compa

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

ny is describing itself, whether in a brochure or on a website, it needs to do so in terms not of the givens, which customers take for g

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

anted, but the added value. Branding is the company's way of indicating those extras."

"Smaller companies generally value design less t

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

Combination pro

han bigger companies," Meehan said. "They don't see it as an investment in the business.

It is discretionary spend, something they will

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

only undertake if they feel they have a layer of fat."

The reason is simple. "With large firms, people are spending from a dedicated m

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

arketing budget. With small firms the person is spending their own money. It's personal," he said.

This means that, not only are they s

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

ending their own cash, but they are also acutely aware of where else that money could be spent.

Small firms tend to think design is all

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

about big fees and they don't see where the value will come from, according to Marie McGrath, co-founder of Huguenot Design and a membe

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

r of the GDBA.

"Developing a new corporate identity or brand for your business is about sitting down and identifying objectives," she s

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

Following aspects would a

aid. "It's about delivering a solution that works for your business. It's not about pretty pictures."

Small firms "can feel intimidated

dd to the challenges in developing combination products:

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

by the design process," she acknowledges. To this end, the GDBA has drawn up guidelines aimed at helping the owner-manager.

The first s

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

tep is to have somebody within the firm prepare a detailed brief, including market information, research data and historical background,

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

together with details of special requirements, budget and timescale.

Take the success of Boru Vodka as a case in point. "Here is a sma

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

ll Irish company that cut through in a crowded vodka market, in an even more crowded drinks market," he said.

It offers a slightly unor

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

Professional from academic institutions, pharmaceutical industries, health care indust

hodox proposition, in that Ireland has no vodka heritage, but "it took on that challenge and in large part met it through its distinctiv

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

e name and packaging," he said.

Far too many logos are "amorphous messes with no distinguishing features", he said. "Corporate identity

.

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

is looked on as a completing item of no great importance. But any company interfacing with the public - and that means the people it wa

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

Companies that provide selfless information through particip

nts to buy from them, work for them, and, maybe, ultimately, buy them out - needs to have a distinctive positioning in order to succeed.

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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