Useful Advices - Business

Most people involved with any kind of vehicle fleet are at least somewhat familiar with the benefits of fleet tracking technology. Large fleets of all k

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

inds are nearly always equipped with some sort of tracking equipment, which allows the vehicle owners to conduct operations more efficiently and more eff

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

Examples of combination products may in

ectively. The cost is pretty high, but when that cost is allocated across a large fleet, it becomes economical.

But what about small fleets? The high

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

cost of fleet tracking would seem to put it out of reach of most, if not all, small fleet operators. Thanks to new technology and an innovative applicat

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

ion of that technology, it is now possible for vehicle tracking to be economical for small fleets, even those as small as one or two vehicles.

This new

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

Combination pro

technology is revolutionary in that for the first time, a fleet operator can monitor and track vehicles through the use of a standard mobile phone. Ther

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

e is no need for an expensive call centre, additional infrastructure, or bulky equipment in the vehicle. This means that upfront costs and operating cos

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

ts are much lower and very affordable.

For example, a typical tracking unit can be purchased outright for a few hundred dollars and requires no ongoing

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

subscription fees. In contrast to traditional systems that require a large capital investment and substantial monthly fees, this is a huge advantage for

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

small fleet owners. And if the small fleet operator wants to lower the upfront costs even further, alternate pricing plans allow the operator to pay li

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

ttle or no fee for the unit and a small ($30 or less) monthly subscription fee.

One of the most attractive aspects of this new technology is that it tra

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

Following aspects would a

cks vehicles proactively rather than reactively. In other words, the system is constantly aware of where each vehicle is located, unlike traditional sys

dd to the challenges in developing combination products:

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

tems that depend on the vehicle owner to contact the central call centre and initiate a tracking request. It also can send customised alerts and message

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

s to notify the operator if a vehicle is having a mechanical problem, has been stolen, or is otherwise in need of attention.

Why, exactly, is this new t

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

echnology so helpful to small fleet operators? Because it allows the operator to benefit from less driver downtime, more efficient dispatch, and the fre

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

edom for fleet managers and engineers to spend their time in the field rather than in the office. And all of these things contribute to the one thing th

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

Professional from academic institutions, pharmaceutical industries, health care indust

at is most compelling – increased profits due to better fleet management.

There is currently one company offering this new technology to individual cons

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

umers as well as fleet operators of all types and sizes. It is called AutoAlert and is based in the UK, but has the capability to offer service across m

.

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

any other countries around the world.

Regardless of the size of your fleet, the good news for your bottom line is that fleet tracking technology has cha

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

Companies that provide selfless information through particip

nged for the better. Now more than ever, it is economical and convenient to track even small fleets efficiently, conveniently, and at a reasonable cost.

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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