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Digg It - Do You Let Your Staff Daydream?
How much time do you let your staff think? I mean “think” in all shapes and forms. Such a 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 s planning and reviewing, brainstorming and creativity, decision-taking and problem-solvi ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in ng, logical thinking and free-flow thinking. And, yes, daydreaming, too. Well, if it’s lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. not up to a quarter of their time, then maybe they’re not doing enough. There’s a rather here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe good story told about the first Henry Ford, founder of the Ford motor company. Ford, wa d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro nting more and more productivity from his workers, decided to hire a consultant to identi 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 fy areas of improvement in one of his factories. The consultant went round the site and 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 returned with a list of names of people who he thought weren’t up to scratch. Ford took nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically one look at the list and exclaimed in horror when he saw the name at the top. “You can’t 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 fire him!” “Why not?” said the consultant. “Every time I observed him he was sitting doi ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi g nothing.” “I know,” replied Ford. “But he’s the most productive guy in the plant. I p ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ay him to think.” For all we know, this was the guy who ensured the phenomenal survivabi dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod lity of the Ford empire. The fact remains that thought has much greater power than anyth cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin ing else that people do. It’s much more powerful than words or actions. Thoughts inspire. tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen Thoughts motivate. Thoughts lead. Thoughts will take your business much further than any 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 other commodity you possess. That’s why, when Mike Pedler and Tom Boydell carried out a ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust study of top managers, over half of the top 10 qualities they possessed related to think y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ing skills, such as mental agility, creativity, learning and analytical skills. So, if y . 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 ou want your team and your business to shoot ahead, give them some daily thinking time. A elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip nd don’t worry if you find them daydreaming for some of it. It could be to your advantage 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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