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We are now in the digital age. All nations now converge on the WWW. What better way to make business? Traditional business models have now been changing as rapidly as the

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

change in technology.

The method of generating revenues in business used by the several companies to sustain their enterprise is now replaced by newer kinds of business m

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

Examples of combination products may in

dels to respond to the new internet commerce. Yet all these are necessary. A business model positions businesses in a more or less predictable value-chain and so determine

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

whether and how a certain company makes money efficiently and effectively.

Nonetheless, the fundamental business models are still retained, only that it comes in a fresh

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

garb. One good example is the age-old auctions. Auctions have been a very reliable form of brokerage model since time past. It is only in these days though that this type

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

Combination pro

of brokerage model has been gaining a more popular ground. In the past, auctions, as a brokerage model, could only be implemented in the brokerage industry to set the pric

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

s of commodities for sale or lending such as agricultural items, financial instruments, and unique items like fine art and antiquities. These days though, the use of the a

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

uction brokerage model has now expanded to more goods and services – almost any other items and services you can think of – all through the basic backing of a commissioned

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

brokerage agent. Other business brokerage model types that are now established and prevailing in the internet, aside form online auctions are of several forms:

Marketpla

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

e Exchange (Orbitz; ChemConnect) operates either independently or under the assistance of an industry consortium covering the entire marketplace transaction process from a

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

sessment to negotiation and finalization.

Virtual Marketplace/Mall (Amazon) hosts online merchants and automated transaction and relationship marketing services while cha

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

Following aspects would a

rging applicable setup, monthly listing, and/or transaction fees.

Buy-Sell Fulfillment (CarDirect; Respond) is where a brokerage acts in-between the buyers and the seller

dd to the challenges in developing combination products:

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

, taking orders to buy or sell a product or service, while also handling related terms like pricing and delivery.

Demand Collection System (PriceLine patent) is an ingeni

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

us ‘name-your-price’ business brokerage model wherein the broker arranges the fulfillment of a sale after a prospective buyer makes a final (binding) bid for a specified g

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

ood or service.

Auction Broker (eBay) is the auction-type wherein the broker charges the seller (individual/merchant) a listing-fee and commission settled with the transa

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

tion’s value and according to varying terms of the offering and bidding.

Transaction Broker (PayPal; Escrow) provides third-party services for buyers and sellers to settl

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

Professional from academic institutions, pharmaceutical industries, health care indust

their payment transaction.

Distributor is where the broker facilitates business transactions between franchised distributors and trading partners through a catalog opera

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

tion connecting a large number of product manufacturers with volume and retail buyers.

Search Agent is a software “robot” used to search-out the price and availability fo

.

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

a good or service specified by buyers, locating hard-to-find information.

All these new-age brokerage models have facilitated the operation (and new rise) of brokers whe

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

Companies that provide selfless information through particip

her specializing in real estate, mortgages, international shipping, insurances, and the like. And these are flourishing as more internet business models continue to evolve

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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