Advice You - Business

I loathe the word “shtick.”

So, I did some research to figure out what it really

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

means. And I discovered two facts:

1. The word shtick is defined as “A

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

Examples of combination products may in

characteristic attribute, talent, gimmick or trait that is helpful in securing re

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

cognition or attention.”

2. The word shtick is derived from the Yiddish t

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

erm shtik, which means “piece or routine.”

Your “thing.” Your “hook.”

Your sht

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

Combination pro

ick.

Now, does that mean shtick is bad?

Not necessarily.

See, it’s not that sh

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

tick is bad. It just…

Shtick isn’t enough.
Shtick needs substance.
S

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

htick doesn’t sustain you.
Shtick only sells temporarily.

Sure, shtick

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

is catchy and cool and clever and fun and different.

But in business, that will

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

only carry you so far.

Sure, shtick might get you in the door.

But in marketing

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

that doesn’t guarantee you’ll stay in the room.

Only VALUE and SUBSTANCE

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

Following aspects would a

can do that.

Take it from a guy who made a career out of wearing a namet

dd to the challenges in developing combination products:

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

ag 24-7 for the past 2,380 days.

Sure, it’s SHTICK-Y, but only substance has mad

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

e my career STICK-Y.

Sort of like comparing Dum-Dum Pops and Tootsie Pops.

Both

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

are delicious. Both are popular.

But only one has SUBSTANCE. (Ahem, Mr. Toots

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

ie.)

Which isn’t to say that Dum-Dums are bad. People love Dum-Dums!

But in bu

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

Professional from academic institutions, pharmaceutical industries, health care indust

siness, you CAN’T just be all sugar.

Customers want value.
Customers want s

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

ubstance.
Customers want to take a few licks and then discover your Tootsie

.

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

center.

Because shtick isn’t enough.

LET ME ASK YA THIS...
What's your

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

Companies that provide selfless information through particip

shtick?

LET ME SUGGEST THIS...
Email me with your Top Ten Substance Points

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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Advice You - Shtick Only Goes So Far

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