Useful Advices - Business

In general gifts are given in business to promote goodwill and foster good relationships. They are also given to s

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

how appreciation. How do you know what is a proper gift?

First off, if you are dealing in international trade you

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

Examples of combination products may in

should make yourself knowledgeable about the customs of those you would like to gift. For example if you are deal

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

ng with oil barons or emirates from the Middle East you wouldn’t want to give them a gift of wood no matter how in

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

tricate. The reason is that they perceive would to be of very low value, not making any brownie points there.

Ano

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

Combination pro

her big consideration is to give a gift that you know the recipient will appreciate. Do a little research; find ou

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

t what their interests and hobbies are. They will be very impressed that you took the time to discover what they l

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

ke and will feel comfortable in knowing that this wasn’t just some anonymous purchase.

Gag gifts are almost alway

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

s inappropriate, especially if there is a sexual connotation. Lingerie should never be given as a business gift. T

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

is is an intimate gift reserved for those in a close personal relationship.

Other gifts to be careful of giving a

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

re food and alcohol which are very popular during the holidays. Prime examples would be giving a gift of lobster o

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

Following aspects would a

r a gift basket with pork sausage to a Jewish business associate, not kosher. Another faux pas would be giving win

dd to the challenges in developing combination products:

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

to someone who is either alcoholic or doesn’t drink at all.

So what’s safe to give someone as a business gift?

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

Again, just keep in mind what the perceived value is in the culture of the person you are gifting. For example a p

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

rson from Mexico would think lowly of a gift of silver because it is cheap and abundant there. Chocolate is a gift

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

that can have two different perceptions. If you give someone chocolate that came from Wal-Mart they may perceive

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

Professional from academic institutions, pharmaceutical industries, health care indust

hat as cheap, but if you give them expensive imported French chocolate they will consider that thoughtful. Just re

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

member it all depends on the person. Gifts should be for a specific individual based upon what you know or have le

.

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

rned about them.

The amount of the gift depends upon the hierarchy in the company. The higher position a person h

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

Companies that provide selfless information through particip

olds the more expensive the gift should be. Also, be sure to never give similar gifts to all those you are gifting

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 - Business Gift Giving Etiquette

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