Advice You - Business

You can create great relationships by name dropping. You may say that m

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

ost people do not like those that are constantly dropping names. If it

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

Examples of combination products may in

s done discretely, you will find that it can bring you more business an

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

help to make more business relationships. For example, I had a custome

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

r that was struggling with their own identity and wanted to develop the

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

Combination pro

r own brand. The problem was that they were doing too many things to co

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

centrate on the one brand. One day they came across a product that was

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

being sold in Europe and not in North America, even though most people

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

n America knew of its existence. They decided to be the distributor for

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

this product in their state and capitalize on the fact that the product

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

was already a brand name.

They were able to successfully se

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

Following aspects would a

ll the new product under the brand and piggy back their own company nam

dd to the challenges in developing combination products:

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

along with it as the "exclusive" distributor. In this way, they were a

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

le to use someone else's brand to create their own. This is only one of

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

several ways that you can use a "sleight of brand" to create your own.

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

Just be creative if you do not have the time or resources to create you

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

Professional from academic institutions, pharmaceutical industries, health care indust

own full blown brand.

Using another brand to help you with

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

your own works extremely well in most cases. Some companies even buy ot

.

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

ers just for the brand name. Just think of all the possibilities, you c

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

Companies that provide selfless information through particip

uld own a brand and then expand on it, a ready made formula for success

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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The old and standard business administration concepts included in any current MBA program are very important, but today the companies are very different.

Forget the meaningless cliches and empty promises. What really matters is what customers take away about a business.

It is an interesting exercise for one who creates ads to watch other ads. It is clear to see the motivation behind what causes some people to build ads the way they do. There are clearly three angles that could and should be considered as components of an ad. Most have one, some have two, the best have all three.

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Advice You - Sleight of Brand

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