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Digg It - 6 Symptoms of a Company in Crisis
Is your company in a crisis? Not sure? Check out the list below to see if you need to take action now!
Denial
Denial
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
ockquote>
You have been warned that there are problems in the
company. It doesn’t matter what kinds of problems there
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
re—cash connected, poor collections, declining sales,
increased defects if you’re a manufacturer, reports of
terrible c
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ustomer service, and on and on. Denial will kill
your company. Get some help—fast.
Cash Problems
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
The checkbook and company savings account (if there is one) are decreasing every month. Your internal accou
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nting
person is on you every day to do something. But there are so
many fires, and so many incoming phone calls houndin
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
you
that you are virtually paralyzed.
Vision Failure
Somehow you and your team lo
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
st track of what business
you’re in. It was clear when you began the company, and that
continued for many years but you
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
have to admit that today’s
vision is really vague and hazy now and since your market
has changed and the times have cha
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
nged you’re lost.
Customer Confusion
As hard as it is to admit to this issue you ack
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
owledge
that no one in your company has any idea what your customers
want and hope to get in the coming years. The sad,
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
hard
truth is that your marketing and sales people simply aren’t
doing their jobs. Nobody in your company ever asks yo
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
r
customers what they want from your company. A simple
question that most always will result in clear answers.
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
kquote>
No Strategic Planning
You don’t have a business plan. There is no written strategic bluepr
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
nt that offers a track for the company to
run on. Why not? Usually the answers range from “no time to
do one, who would
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
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
do it, no one here is capable, we know
what to do… writing a plan would just be a waste of time.”
Inc
Inc
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
pable People
Loyalty is impressive and respected but if the wrong people inhabit your company you’re r
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
eally in trouble. Speak
to a well-qualified labor/employment attorney about steps
you must take to remove people who ar
.
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
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
hurting you and the
company. It may take time but no company will ever reach its
potential by keeping inferior people
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
on the payroll.
If this is your company, it is time to take action! Contact Gene Pepper at the link below
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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