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Remember the days when businesses were just past on and business was taken for granted? If you do chances are that you are thinking about business in the 50's, 60's, 70's, 80's and maybe even the nineties. It certa

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

inly isn't true in the 21st century.

Business used to think that all they had to do was run a nice clean predictable business and their loyal customers would keep coming. Work a little harder, maybe get a new item

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

Examples of combination products may in

or run a sale and you made a little more money. Look at brands like Zenith, Sony, Woolworths, Kodak, Bell, Corel Draw, Palm, Microsoft and Google. The ones that have remained successful haven't rested on their lau

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

rels. They continue to invest in training, new products, new research and development and have paid close attention to trends in technology and customer preferences. The ones that did nothing but open their shops a

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

re either gone or in big trouble.

So far it sounds interesting but you're saying you don't run a huge corporation and don't have an Research and Development Department. These practices apply to every business prof

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

Combination pro

ession. I own a medium sized printing and promotional product company, solutions Ink in Montreal, Canada whose sales have more than doubled each of the last three years. During this time my competitors businesses h

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

ave diminished. Usually I find my competition trying to sell the same products and waiting for the phone to ring for an order. Here they are in a profession that deals with promotion and marketing on a daily basis

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

and these people seem clueless. I made it a point to join industry associations and frequent trade shows on a regular basis in places outside of my own city.

Sure it costs money to join these associations and sure

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

it costs money to attend the shows, never mind the lost hours while your gone but not doing it will cost you a lot more. These associations are at the front of the industry, researching new trends, new technologie

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

s and new ways of doing business. At the start of the dot com age I met a company that was a pioneer in the online ordering systems for printing. I was the first one in Canada to offer this service. I did it becaus

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

it made sense for larger customers to order this way. They could save time and hidden procurement costs for their companies. It was an easy sell to my customers and being an early adopter gave me reason to solicit

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

Following aspects would a

potential new customers with great success. Once these customers became users these customers became very loyal. The same is true for the promotional product side of the business. Having an online store, www.solut

dd to the challenges in developing combination products:

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

ionsink4u.com with over 600,000 items on it gave me an advantage over the traditional sales person who came in with the same 4 catalogues. If customers were willing to invest in a promotion of their company chances

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

were that they wanted to stand out and not have the same product as every one else.

Going to larger trade shows outside of my home town gave me opportunity to see new products and learn how other people sold them

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

. At most trade shows they have educational seminars. Many people pass on them, but the smart, successful people are usually there. You are never to old to learn something new and from a business perspective, those

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

that are unwilling to change usually perish. Successful businesses continue to evolve. A by product of these trade shows has been meeting many new suppliers. You might not need them right now, but one day this con

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

Professional from academic institutions, pharmaceutical industries, health care indust

nection will pay great dividends. My main lines today are very different from my main lines 5 years ago. My sales have increased dramatically together with better profit margins. Don't be in the "me too" business,

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

try to find your niche early and become an expert in it. Once this becomes comfortable search out the next new line or product.

In summary an eduction from school is great and I have a masters degree. The true edu

.

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

cation that will be beneficial to your successful business comes many years removed from your college days and many miles from your former campuses. If you ned any help or suggestions on what to do for your busines

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

Companies that provide selfless information through particip

s drop me an email at steve@solutionsink4u.com. I would be happy to help.

Steven Schneidman
http://www.solutionsink4u.com
steve@solutionsink4u.co

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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