Useful Advices - Business

If you are building a house you must have a strong foundation. You need

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

to make sure that the house has a firm base on which to lay down your

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

Examples of combination products may in

ricks and mortar. If you don’t lay a solid foundation, then it can easi

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

y topple over during highly stressful periods of high wind and storms.

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

The same applies in business. With each client, you must (and I mean mu

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

Combination pro

t) establish a solid foundation by building high levels of trust and ra

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

pport. If you provide a solid foundation and maintain that connection,

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

hen it is far less likely that the client will take their business else

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

here.

If you were your customers, would you want to keep doing busines

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

with you? (If it helps, write down the ones that would and those who c

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

uld go either way). And then ask the question: Why or why not? There ar

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

Following aspects would a

e things that you are doing or not doing that help build and maintain a

dd to the challenges in developing combination products:

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

solid foundation.

The principle of ‘strong foundations’ also applies i

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

other parts of life. Any relationship that is built on trust and integ

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

ity is better able to withstand stressful periods. If others like you,

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

rust your words and trust your intentions, then you are well on the way

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

Professional from academic institutions, pharmaceutical industries, health care indust

to succeeding in business and in life.

So how strong is ‘the foundati

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

n’ upon which your relationships are built?

Remember, it is never too

.

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

ate to build or extend on the foundations within your personal or busin

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

Companies that provide selfless information through particip

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 - Building A Strong Foundation in Business and in Life

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