Advice You - Internet and Businesses Online

Ever since O’Reilly has termed the 2nd generation web as web 2.0, it has got phenomenal publicity for fair reasons. The bourgeoning bookm

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

arking sites and social media networks have been an impetus behind the popularity of web 2.0.

Convergence is a key factor enabling many

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

Examples of combination products may in

nterprises to incorporate social tool to find large segment of niche customers, which verifies the ‘Long Tail’ theory of Chris Anderson,

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

he chief editor of ‘The Wired’.

Until web 1.0, search engines played a vital role in helping enterprises find customers, who were lookin

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

for their products, but not the mass market. The much potentiality of Internet remained underutilized in so far as the matter of ‘ niche

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

Combination pro

audience acquisition’ was concerned. Web 2.0 has come up with a solution for all enterprises –smaller or bigger -to zero in on the large

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

segment of customers.

The belief that there always exists a demand for a product in the mass market finds verification if one looks at t

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

e successful business models of the companies like Amazon, and eBay. These companies can hardly deny the fact that the sale of unpopular

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

roducts is greater than the sale of popular products. Their whopping profit mainly emanating from the mass servicing of the unpopular pro

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

ucts corroborates the practical implications of Long Tail.

So how many us are prepared to put VCs to build a successful model like Amazo

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

and eBay? Perhaps, many small enterprises, or even bigger one can’t even think of competing with these giants on various reasons - the g

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

Following aspects would a

reatest being the risk factor. Well, if your risk gets insured, you’d like to put your legs ahead, right?

Here is the underlying merit o

dd to the challenges in developing combination products:

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

web 2.0, which provides an equal opportunity to all. The clich? ‘what is shown is sold’ is true especially in an era where you can sell

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

he products through online social networks. And, the Smithian theory of ‘invisible hand’ ensures immediate promotion of the products in-d

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

pth of the large segmented markets.

The ‘Swarm Effect’ created through users’ interaction automatically leads to the promotion of the pr

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

ducts with no additional cost involved to drive traffic through search engines thereof.

In order to exploit the mass market, there requi

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

Professional from academic institutions, pharmaceutical industries, health care indust

res a migration from enterprise 1.0 to enterprise 2.0. Many online businesses are soon realizing the urgency of incorporating web 2.0 too

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

s –user generated contents, blogs, interactivity, social computing, etc. -in their business plans so as to reach out to the large masses.

.

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

The objective of enterprise 2.0 is crystal clear -serve the masses Free and they’ll serve you better in the long run.

It’s high time to

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

Companies that provide selfless information through particip

take action towards the migration from web 1.0 to web 2.0 enterprises to tap the mass market for making successful online business models

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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