Advice You - Business

Sponsoring is one of the ways to build and fortalice a brand. And sport is always a good target. But sport

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

it not the only target. Sponsorship at ING consists of three main programmes: sports, art and culture, 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

nd community development. states the ING sponsor policy. (http://www.ing.com/group/showdoc.jsp? menopt

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

spr&docid=074368_EN&lang=EN)

Running has been ING’s main target for sponsoring sports events; because i

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

t is a sport of universal appeal, practiced by and accessible to millions of people across the globe … One

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

Combination pro

of the largest events in our programme is the ING New York City Marathon.

Running is one of the health

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

est sports there is, healthy in many senses: it is a sport that can be practiced indoors, in nature, on the

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

street (New York) and nearly everybody can join and it doesn't require any fuel.

Only recently, ING added

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

a new sport to its sponsorship portfolio and that is Formula One, by sponsoring the Renault F1. Renault ha

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

been looking for a new sponsor as the tobacco sponsors (Mild Seven) are banned from the (F1 and therefore

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

television) stage. There is also uncertainty about Telefonica; the Spanish Telecom company that could leave

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

Following aspects would a

Renault F1 sponsorship after Fernando Alonso (from Spain) switches from Renault to the McLaren team). ING

dd to the challenges in developing combination products:

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

is a company that is both a (investment) bank and an insurer.

According to ING, ...ING has selected For

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

mula 1 as a strong platform from which to build global brand awareness ... The opportunities this agreement

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

provides include virtually year-round global exposure. Grand Prix races take place in 17 countries, of whi

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

h ING is active in 15. Formula One attracts 850 million television viewers per year.

In difference wi

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

Professional from academic institutions, pharmaceutical industries, health care indust

th running, Formula One (sponsorship) is a lot more risky. Not only for what happened to Ayrton Senna. But

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

Formula One is a more controversial sport than Running, maybe not as controversial as Bull fighting, but th

.

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

re are people who are against it.

As ING is a Bank as well as an Insurer, I would say that running would f

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

Companies that provide selfless information through particip

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 - Sponsorship and Sports – The ING Example: Running & Formula One

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