Advice You - Business

When you sell your time, you sell your life. You might as well be a slave or a mercenary – or an employee. You cannot g

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

et rich selling time unless you’re very highly qualified or a rock star or film star. That’s why most consultants and c

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

Examples of combination products may in

aches experience peaks and valleys - “chicken or feathers” – their income is seasonal and they work harder and harder f

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

or less and less.

When I meet with my Joint Venture Forum Members, I always tell them that they should have each Joint

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

Venture they consider fit within the following parameters: “No time, no risk, no cost, win/win.” That doesn’t mean a Jo

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

Combination pro

nt Venture won’t take time to set it up, or a little expense up front – it simply means that ideally, the JV should run

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

like a money machine, without your presence or time. The idea is to utilize and leverage underutilized resources and c

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

eate links as a broker would. You get paid a percentage of resulting business. You link supply with demand and piggy ba

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

k distribution and advertising.

The average consultant or employee (a consultant is simply an employee with many bosse

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

s) doesn’t realize that his hourly rate is not what he actually earns. When you look at your real profit, you should al

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

o consider what your freedom is worth to you. Are you free to do what you like, when you like? Are you free to go skiin

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

Following aspects would a

or hiking when the weather permits, or when a boss permits? Are you really like a child in a classroom who has to ask

dd to the challenges in developing combination products:

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

permission to go to the little boys’ room? How much is time with your family worth to you? What will you sell it for? D

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

you really want to have a boss decide whether or not you’re allowed to take your wife on holiday or go fishing with yo

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

r friends? How old are you, anyway? Maybe it’s time for your personal Independence Day.

Other peoples’ time, money, re

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

sources, equipment, expertise and access is freely available to smart JV experts. We don’t have money problems; we have

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

Professional from academic institutions, pharmaceutical industries, health care indust

thinking problems. Let us understand that we don’t have to sell our time. Fire that boss, once and for all. Fire your c

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

nsulting and training clients like I did. They don’t deserve you. You family and loved ones deserve you. One phone call

.

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

can earn a good JV broker more than the average employee earns in a month or more. Attend our elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

tp://www.jvwisdom.com">Joint Venture Broker Bootcamp and find out how you can have all the time and money you want

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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