Useful Advices - Business

Sales are the key to any businesses success, but what happens when

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

your company experiences a huge over night drop in sales when a b

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

Examples of combination products may in

rand name falls out of favor with the consumer? Has this ever happ

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

ened? Sure it happens all the time and some times it is so serious

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

that your store gets boycotted too simply due to your association

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

Combination pro

with such a brand.

Lets look at a case study shall we? Lets look

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

at 711 store sales, which dropped like a Wiley Coyote ACME cartoo

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

n product recently. What happened? Well it appears that Citgo Oil

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

Company fell out of favor with the American People. Citgo is a bra

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

nd of Venezuela State Run Oil Company and apparently Hugo Chavez t

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

he leader of Venezuela made some harsh comments about the United S

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

Following aspects would a

tates President at the United Nations meeting and people were furi

dd to the challenges in developing combination products:

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

ous over it. Thus they took it upon themselves to boycott Citgo Oi

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

l.

What happened next? Well, it turns out that no one shopped at

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

711 C-Stores because they sell Citgo Gasoline and sales tanked ove

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

rnight. What did 711 do, well the acted fast and dumped Citgo Gaso

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

Professional from academic institutions, pharmaceutical industries, health care indust

line and will now buy from a different vendor instead. This was a

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

good PR move and it makes for a great case study. If you do not wa

.

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

nt your store sales to plummet then you need to be careful what yo

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

Companies that provide selfless information through particip

u are selling. Consider this in 2006 and watch out for your sales.

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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Useful Advices - When Sales Plummet from Customer Boycotts

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