Useful Advices - Business

Some changes that appear to be very complex are driven by very common principles. Take for example the shift to quality tourism in Spa

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

in, how does this process gain momentum?

First of all the shift to quality tourism is a response on another trend that changes the sc

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

Examples of combination products may in

ene. First of all there is a move to residential tourism and there is (the longer existing) influence of the budget-flights to popular

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

destinations, like Malaga in the south of Spain. Both trends are interrelated because residential tourism brings in more families and

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

relations that do not reserve a hotel or apartment (but stay in the house of the foreign resident – how will spend its holiday outside

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

Combination pro

the country for a while). Both shifts require an answer from the professional tourist industry.

And the answer is: a price increase.

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

The price increase will automatically shift the sector to a higher quality level.

To understand how this works, just have a look 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

he price of a sun bed. This year you pay eight (8) Euros for two beds and a parasol. Last year you would pay 7,50 the year before 7,00

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

and 6,50 the year before that one. In percentage, the increase lowers each year, but as an absolute amount the price shifts are signif

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

icant.

Now where does the quality shift comes from?

The shift in quality comes as a simple result of the previous increase in price.

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

Just see how; first the sun beds were placed near the street site of the beach, near the boulevard. The space between the sun beds was

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

Following aspects would a

relatively scarce. The space in front of the sun beds and nearer to the sea was reserved for the normal tourists with their own chair

dd to the challenges in developing combination products:

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

s, parasols or towels. The price-increase however asked for a reaction; paying the same (by the knowledgeable tourist) was just not ac

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

eptable. So the sun beds were moved closer to the sea and with ample space in between (leaving no more space for the other tourists us

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

ing their simple towel -- and at the same time speculating that these tourists spend less).

This shift solves two problems. Based on

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

he assumption that the sun-bed tourist will spend more: not only on sun beds but also on food and drinks, the price increase attracts

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

Professional from academic institutions, pharmaceutical industries, health care indust

more of the "right" tourists. This move is a clear sign what direction the sector is taking and what kind of tourist is welcome and wh

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

ich is not.

A simple mechanism. Not only used in the tourist sector but sometimes applied by banks who try to focus on clients with a

.

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

higher share of wallet. There is a risk in this strategy and that is that it could affect the image of the company or in this case the

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

Companies that provide selfless information through particip

image of a tourists sector. Besides this, the assumption of the share of wallet for either tourist could be wrong...

© 2007 Hans Boo

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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Charities are those organizations that provide a unique or set of unique programs within the community that they serve. Often these services are provided to their clients at no charge or are based on a fee in accordance with their level of income. Examples of some of these services provided by charities include the provision of clothing and food to the homeless, delivery of meals to the senior population, youth building programs, energy assistance, hospice care, etc.

Have a product or service, and know your target market. Find out what people need, want. Visit forums, check out what they are saying on blogs.

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