Useful Advices - Business

Politics and Business are so similar in many ways. Sure politics is much dirtier and g

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

enerally played by less ethical individuals and yet the similarities are often uncanny

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

Examples of combination products may in

. Perhaps a brief point-by-point comment on this subject will open a new perspective o

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

n this subject. Below are a few similarities to help the thinking juices flow and allo

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

some conceptual thoughts.

1.) In politics you must canvas the area using data about

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

Combination pro

the voters; in business you use demographic software to gather information about the

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

customer.

2.) In politics you must get the voter to make a decision to vote for your

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

candidate; in business you must get the consumer to choose your product or service ov

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

r your competitor.

3.) In politics you must employ multiple methods to reach the vot

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

er; In business any good marketing program uses multiple media, mediums and methods to

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

reach the consumer.

4.) In politics you must show how your candidate is better and

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

Following aspects would a

different; In business you must show how your brand is best.

5.) In politics you mus

dd to the challenges in developing combination products:

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

get those people to the polls to vote; in business you must get those customers in th

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

e door of your business to buy something.

6.) In politics you must win or you are fo

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

rgotten; In business you must beat your competition and the customer must buy from 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

or you go out of business.

7.) In politics the customer decides with his or her vot

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

Professional from academic institutions, pharmaceutical industries, health care indust

; in business your voter buys your product or service with his or her dollar.

I hope

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

this philosophical discussion allows you to see business from a different perspective

.

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

and if you are in business and considering politics, forget it. Business is a much bet

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

Companies that provide selfless information through particip

ter game than politics and as a politician might say; You Can Trust Me on This in 2006

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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