Useful Advices - Business

In business you must develop a strong team and to do this properly you must be careful whom you pick to be on the team. Vendors are part of that team. It is not as easy as

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

you might think picking vendors. Let me tell you a story. I take issue with some of our vendors who do not walk the talk. I visited several vendors in TX this month and

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

Examples of combination products may in

ound that their lack of image and un-kept shops and attitude about image was quite inferior to ours. I found that they did not have the same value set when it came to qua

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

lity of uniforms, signage and building. I am concerned that as the Optimist Club says, we should be work only for the best, associate with only the best and be only the b

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

st.

Well, I must say we are the best and we have the best customers and therefore we must demand the best from our vendors. We want ethical and fair vendors and we need

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

Combination pro

roper image. I believe it is totally disrespectful for our vendors to assume that we should be doing business with them when they lack the character and take zero pride i

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

n their shops image. I find it appalling for them to constantly toot their own horns and then go on like we do not matter. It is almost like saying; why take a shower we

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

are only going to get dirty again? Well that maybe okay for; John Walker Lynn the Tally man fighter bathing in dirt, but not for our vendors. How can a company say they

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

respect the services we offer yet never clean their tools, shop, building or offices. I toured one vendor and their shop was a disgusting pigsty where there was debris al

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

over the shop, junky equipment everywhere, brand new machines uncovered and 1/4 inch of dirt on them. I saw paper work everywhere, clothes hanging form the door ways, th

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

occasional motivational picture from Successories, Inc. with dirty glass and filled trash cans in the break rooms, with posters of women hung up viable from the open door

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

Following aspects would a

. I am going to say, you want to work with our company? You want to sell to the best. You want to buy a new house and put a down payment on it with the money you make f

dd to the challenges in developing combination products:

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

om our franchisees and then let your shop look like that? What Planet are you on?

We are a first class operation in the cleaning business, if you want our volume and mon

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

ey flow in the middle of this recession you had better start acting like it. I tell you what it looked like something out of the Grapes of Wrath. That was only one of th

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

shops I toured this month. We will be switching vendors. Michael Jackson’s song, which tells us to look in the mirror is quite appropriate here. You want in on the cle

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

ning industry? Then clean up your act. It seems everyone can throw stones but no one can walk the talk. It appears that the strong will survive and those who have never

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

Professional from academic institutions, pharmaceutical industries, health care indust

been through an economic downturn in this country and think it is okay to skip the details ought not be missed and shut up as they sink. If you do not walk the talk; do

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

ot complain when the torpedoes come in. This is why I tour the country and find all the vendors and disallow some of them as approved vendors for our team. Let those scu

.

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

mmy vendors deal with our competition. Not us. Either you believe in something or you don’t. Either you stand for something or you don’t, either you are in business to

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

Companies that provide selfless information through particip

o it right or you are not. You chose and now live with the results. Thanks.

This is a case study from the mind of an entrepreneur who does walk the talk. Think about it

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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