Digg It - Business

Every major business prepares one.

How about you?

That is, do you prepare an annual

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

report on your life?

Why?

Because it keeps a record of what you did and what happe

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

Examples of combination products may in

ed. Because it will make you think about what you want to do with the next year. And

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

because it will help you make plans so that you can achieve the success that you drea

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

about.

All in all, it's a powerful planning tool.

Here are five areas to include:

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

Combination pro

1) What are the highlights of your personal life during the past year? What special e

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

vents occurred? What did you accomplish? Describe both good and bad things: you want

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

o write more than a fluffy holiday update.

2) What happened in your business (or you

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

r job)? What did you accomplish? What value did you add? How did you improve? What ch

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

nges did you make? What changes occurred and how did you handle them. This should inc

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

ude a financial report of profit and loss, even if you earn a salary.

3) What did yo

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

Following aspects would a

u buy, sell, or lease? Why did you choose it? What else did you consider? Record seri

dd to the challenges in developing combination products:

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

l numbers for reference. Use this to track capital expenditures for your income taxes

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

or to monitor buying patterns.

4) What did you learn? What lessons, wisdom, and ski

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

ls did you gain? Make a list of the best ideas that you collected. Describe how you u

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

ed these ideas. If you don’t remember any, then start a wisdom log today for next yea

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

Professional from academic institutions, pharmaceutical industries, health care indust

r’s annual report.

5) What are your goals, strategies, and plans for next year? Wha

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

is your vision for the year? Be candid. Be optimistic. Be realistic. Create a map fo

.

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

r how you plan to get what you want during the next year. Then write a fantastic repo

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

Companies that provide selfless information through particip

t next January on what you accomplished.

Best of success, as you realize your dreams

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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Let's face it, there are things that we don't always enjoy doing in our day-to-day business routines. Perhaps you are confused by accounting and have papers strewn all over your desk or stuffed in a ...

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