Useful Advices - Business

Whether you are in the game to further yourself personally or professionally, one key ingredient is essential:

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

Networking!

I remember some years ago, Joan Rivers gave a commencement speech at Harvard, and the professor

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

Examples of combination products may in

and parents were absolutely appalled by her message. It was simple, “It’s not WHAT you know, it’s WHO you kn

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

ow…” that will get you that great job, promotion, or perhaps a foot in the door to a new career or circle of f

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

iends. I’m sure that bit of advice didn’t help the sting of that very expensive Harvard education that your p

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

Combination pro

arents are still paying for, but nonetheless, it’s oh, so very true.

You might be saying to yourself, “…yeah,

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

but I don’t know anyone and I want to start my own business.” First of all, that may not be a true statemen

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

t. Here are a few suggestions on how to get started on capitalizing on your network savvy.

• What do you wan

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

to accomplish? A promotion? A completely different line of work? Starting your own business? Dr. Phil sta

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

tes that if you can verbalize it, you can make it happen. So write detailed notes of what you aspire to do.

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

or example, if you want to start your own business; do you want to be a consultant? Do you want to open a ret

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

Following aspects would a

ail shop? What EXACTLY do you want to do? How will you make money? Do you enjoy it?

• Make a List Tally

dd to the challenges in developing combination products:

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

very friend, acquaintance, family member or neighbor you know and detail what type of connections THEY have if

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

any. How could they help you?

• Educate Yourself Surf the net and educate yourself on what tools and knowl

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

dge you will need in order to be successful at your new venture. You will be amazed at how much free informat

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

ion is out there.

• Attend Seminars or Meetings Don’t be afraid to talk to people and tell them about yourse

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

Professional from academic institutions, pharmaceutical industries, health care indust

f and what you are interested in doing. This is precisely why people get together with a common interest. So

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

meone ALWAYS seems to have a friend of a friend they can refer.

• Volunteer Offer your services to business

.

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

s or friends to build your reputation. If you are going for a promotion at work, offer to do extra projects a

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

Companies that provide selfless information through particip

nd take the extra time to really make a great presentation. Believe me, your boss will sit up and take notice

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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