Digg It - Business

In tough economic times, raise the bar, change the bait, and find new methods to move your team beyond where

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

it is today. If you are not going forward, you will slide backward. To develop a market advantage when the

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

Examples of combination products may in

economy starts to slide, here are a few survival tips to use as a foundation of your action plan.

Engag

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

e in Dialogues - Ask Questions and Listen, Listen, Listen

Sam Walton said: "Trust your customers. Go ta

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

lk to them. They have all the answers, and all the money." When business slows down, go back to your existin

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

Combination pro

g customers, and talk to them. In the course of the conversation, you may uncover hidden needs, and suggest

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

ions for improvement. Act on those suggestions.

Next, talk with the rest of your important constituents: em

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

ployees, suppliers, shareholders. Keep them in the loop--and they'll keep you informed as to what's happenin

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

g in their world.

Eliminate Non-Core Activities - Invest in the Future.

Reexamine your priorities,

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

and eliminate distractions, programs that seemed like a good idea at the time, but are not delivering resul

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

s and are taking you away from your core. Build expertise in the things which drive your business. Even in

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

Following aspects would a

downturns, invest in R&D, so you are ready when things pick up.

Don't cut your culture. Company training, a

dd to the challenges in developing combination products:

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

nd team building will sustain you when things get tough. Your culture will not recover easily, if it is no

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

t maintained in tough times. If you have to reduce your staff, be sure to recognize the efforts of those tha

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

t remain.

Visualize the Future - Then Create a Plan to Get There!

Ask yourself what you want your b

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

usiness to look like when the recovery comes. Drvie towards that outcome. And share the vision with others,

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

Professional from academic institutions, pharmaceutical industries, health care indust

so they can help you arrive at your destination.

Follow you instincts and do what you already know is righ

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

t -- only this time, really do it. Don't just talk about change, do it. Make the tough calls and change thi

.

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

ngs which do not work!

Believe in your own business. Remain positive and focus on what you do well. Your at

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

Companies that provide selfless information through particip

titude will be contagious. If you believe things will turn around, your team and your customers will as well

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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I have decided that you are weird. But, don't worry... it's a good thing! ;-) Please, let me explain... I promise there's a great marketing lesson in here somewhere... ;-)

In the wake of CBS placing advertisements on eggs (yes, it's true, CBS is placing ads on actual egg shells), I've decided to come up with a compilation of ideas for places to put a company advertisement.

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Digg It - Surviving the Economic Downturn!

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