Useful Advices - Business

Often when I give speeches at MBA schools I am flabbergasted by som

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

e of the questions that I get from the students. It is often as if

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

Examples of combination products may in

the students have no concept of reality and that is very scary for

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

potential employer. It is even more scary to think that they are

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

eing taught by a professor who has never actually been in business

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

Combination pro

ut only studied the theory and written textbooks on how to do somet

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

ing that he has never succeeded at.

Nevertheless this is the case

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 many MBA schools. Not all are like this of course, many other to

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

MBA instructors have been in business and come back to teach. But

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

the superstars of business are still in business and they have no t

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

me to teach.

Some more critical of MBA schools say that; “Th

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

Following aspects would a

ose that can't teach” and I myself have turned that phrase in

dd to the challenges in developing combination products:

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

a good number of articles on business. Indeed, this may be the case

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

at many MBA schools. There are many things they do not teach you a

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

MBA schools and there are many books written on the subject.

One

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

f the most serious things that they do not teach is that when doing

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

Professional from academic institutions, pharmaceutical industries, health care indust

business deals they are never cut and dry or black and white. Ever

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

thing is a shade of gray and you need to be a little bit pragmatic

.

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

n order to make it work. I hope you will consider all this in 2006

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

Companies that provide selfless information through particip

as perhaps it might help you in your business career in the future

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.usefuladvices.org.ua/article/46199/usefuladvices-Top-7-Things-They-Do-Not-Teach-You-in-MBA-School.html">Top 7 Things They Do Not Teach You in MBA School</a>

BB link (for phorums):
[url=http://www.usefuladvices.org.ua/article/46199/usefuladvices-Top-7-Things-They-Do-Not-Teach-You-in-MBA-School.html]Top 7 Things They Do Not Teach You in MBA School[/url]

In the beginning… The caveman needed to survive. Man found safety in groups. It was not a matter of preference, it was a matter of necessity. If you were not a part of a group, your chances for survival were slim. Conformity to the majority became necessary to stay in a group and physical strength was the dominant factor for group leadership. Those who were strong and successful in the art of survival had the majority influence toward.

There are two distinctly different markets. Oddly enough, both markets need the exact same marketing process to work. As elsewhere described, the first market is the selling of commodities, either as products or services; commodities meaning a known value, i.e. a commonly accepted result. For example, a $.69 can of green beans and a $4.95 car wash represent expected results. The second market is...

Tags

Links

Useful Advices - Top 7 Things They Do Not Teach You in MBA School

Related Articles: