Advice You - Business

New advertising ideas and techniques most always get the quick attention of the optimistic small business owner.

The first time

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

you hear about something new to use or adapt, your mind races to fast forward, especially if the testimonials are realistic and

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

Examples of combination products may in

seem to relate to what you are doing.

To illustrate, picture that ad salesperson standing right there in your business. Tempta

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

tion is staring you in the face. "It's a great deal," they tell you.
Do you go for it or not?

Here are three sets of realisti

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

questions to ask yourself as you evaluate the proposal:
****************************************
1. Take a step

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

Combination pro

to the side and consider this. Is your current advertising already covering the basics? Is this new temptation part of your bas

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

ic advertising plan or does it fall in the "next level" category? Remember that you've got to do the basics first, just as you

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

ave to open a showroom before you can decorate it. So make sure you are doing the basics well before you move to the next level

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

.
****************************************
2. Will the new idea or technique stand on its own as a profit gener

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

tor? Can the new idea or technique be integrated into your basic advertising thrust so it can compliment what you are already d

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

ing? Will it contribute to building a cumulative advertising effect?
****************************************
3.

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

Following aspects would a

Can you afford it? Is your advertising budget already strained? Will this advertising method pay for itself? Or will it break

dd to the challenges in developing combination products:

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

the bank?
****************************************
Background: The informed small business owner keeps good records of

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

all promotions and advertising. You want to develop enough information to figure out what works and what doesn't. It's called l

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

arning from your experiences of being in the trenches.

Temptation stares you in the face at the least expected times.
Tem

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

tation can come from hearing or reading about super results others have gotten with their advertising.

Often it appears when a s

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

Professional from academic institutions, pharmaceutical industries, health care indust

alesperson tells you about the "great deal" they are offering.
Temptation can come from looking forward to how great it wo

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

ld be if you could get similar results. It always sounds so easy.

Is temptation worth listening to? By giving yourself honest

.

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

answers to the three questions above, you'll know if it's time to move ahead to the next level and succumb to your latest adver

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

Companies that provide selfless information through particip

ising temptations.

© 2006 Jon Sinish

This article may be reprinted and redistributed as long as the resource box remains intact

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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