Advice You - Business

As an immigrant myself, I understand the hopes, fears, dreams and unique problems faced by immigrants, no matter where they are in the world. Immigrants

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

often face challenges that only other immigrants can understand. Often their qualifications are not accepted or they have no local experience, so they

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

Examples of combination products may in

accept whatever they can get. Having worked with hundreds of immigrants, I know how hard it is to start all over again.

Immigrants don’t always underst

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

nd the culture in their new home. They might be afraid of risking their savings. They often don’t realize just how different things are in this new worl

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

d. They sometimes face racism, xenophobia and people who take advantage of their vulnerability. They want to be accepted and blend in to their new envir

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

Combination pro

nment, but it can be very strange and difficult. Money problems can lead to loss of self respect, shame, relationship problems and withdrawal. I know of

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

a number of immigrants who ended up divorced from their spouses, their dreams crushed. Others lost their savings and will have to work until they die –

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

UNLESS THEY FIND AN ALTERNATIVE.

The good news is that any immigrant, in any country, can use Joint Ventures to create an income fast, with no money or

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

risk, no database, no business experience and no connections or support system. Just like I did. You don’t need money, reputation or inventory. As long

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

as someone else has it, you can access and leverage it, if you know how. When I got to Canada, the condominium agent didn’t want to rent me an apartment

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

because I was new in the country with no track record or credit record here! Talk about starting over. I got a friend of mine, the head of the US Peace

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

Following aspects would a

Corps for Southern Africa, to send tem a testimonial. That worked. Ridiculous, but that’s what many immigrants face. You can’t get a job, because you d

dd to the challenges in developing combination products:

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

n’t have “Canadian experience”. Chicken and egg. But I didn’t want a job – I didn’t need one! You don’t need to accept a minimum wage job or drive a cab

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

or kowtow to some idiot boss. You can create multiple streams of income and financial independence using Joint Ventures. Don’t buy a business. Don’t ge

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

a job. Get smart. Use Joint Ventures.

Joint Venture Brokers leverage other peoples’ money, credit, reputation, resources and access. The monkey they e

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

arn is 100% profit. And they get all the tax breaks that any other business gets. They don’t sell time, they take no risks and they carry no overhead. T

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

Professional from academic institutions, pharmaceutical industries, health care indust

ey can live in a cardboard box and use a pay phone. They don’t have to sell anything. All they do is link people up with businesses supplying the produc

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

ts or services they want and need, and get well paid for it – win/win/win. They have a JV mindset and build bridges between supply and demand. Anyone ca

.

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

do this. Immigrants have the courage to leave their comfort zone, home and friends, security and support system. They are courageous. They richly deser

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

Companies that provide selfless information through particip

ve the rewarding world of Joint Ventures. You can find more information at http://www.jvwisdom.com

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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Very few people know that there is a hidden relationship between the success of a business venture and hypnosis. While this may not be that evident, it is actually an integral part of every successful business venture.

What would you do if a third of your senior managers, seasoned craft workers and experienced office staff retired as soon as they could? There's no easy answer to the Boomer Brain Drain but we know you'll need an integrated approach that involves human resources, business process changes, technology, and organizational culture.

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