Digg It - Business

How is the health of your business? Take a quick pulse by looking at the following areas:

1. Financials - key items to lo

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

ok at are your balance sheet, income (or profit & loss) statement and cash flow statement. Is your equity, profit margin a

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

Examples of combination products may in

nd cash flow growing? If not, why not? If so, what plans do you have with your growing cash flow? Reinvestment? Expansion?

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

Capital Investment? Acquisition? Do you have any major expenditures coming up on the horizon? If so, will you have suffic

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

ient cash or will you need to finance?

2. Market Analysis - start from scratch and see if you have a targeted niche marke

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

Combination pro

. If not, how can you further define your niche. Remember, oftentimes the more narrow your target, the better off you will

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

be. If your niche market is perfectly defined, is everything you are doing geared toward that market? Are you doing every

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

thing you can to reach that market? And only that market. Are you wasting resources marketing outside of your target?

3.

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

Customer Data - Are you keeping a full, updated and accurate data base of your customers, prospects and leads? Who are you

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

r biggest customers( (top10, top 100)? Do they provide you with enough repeat business? Are there other products or servic

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

s they don't use that you can offer them? Do you have any opportunity to increase the size of their orders? Remember the 8

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

Following aspects would a

0/20 rule and make sure that this 20% of your client list is generating 80% of your business. How about the rest of your c

dd to the challenges in developing combination products:

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

lient list. Divide the list into five groups based on volume sales. Then come up with a plan to move each client into the

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

next higher group.

4. Competitive Data - Who else is serving the market you are serving? What are they doing? What compet

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

itive advantage do you have, if anything? What weaknesses do you have? What are their strengths? Are you keeping a profile

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

on your competitors? You should be doing this and update the information regularly.

5. Employee Data - Are you performing

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

Professional from academic institutions, pharmaceutical industries, health care indust

regular reviews. Is everyone performing to your satisfaction? If not, are they salvageable? What's the downsize of cuttin

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

g them loose and replacing? Do you know each of your employees birthdays? Do you know their families? Have you identified

.

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

certain employees for possible promotions should you expand or need to replace someone who leaves?

Being intimate with yo

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

Companies that provide selfless information through particip

ur financials, market, customers, competitors and employees can go a long way in the successful operation of your business

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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Machine shops are places where engineers or mechanics design and fabricate finished parts from metals, and repair machines of various types. The machines may be domestic appliances, bicycles, complicated four-wheelers or even airplanes. The job may involve repairing a malfunctioning part or replacing a non-functional part with a new one. Repairing a malfunctioning part may require many technical or mechanical operations to put it back into working condition. The mechanical operations can include grinding, welding, cutting, and turning to bring it back to its operational shape. Some operations may require advanced multiple skills and expertise, like precision machining, laser cutting, and laser welding.

There are establishments that undertake both printing as well as scanning. Scanning means professionally processing the pictures you have included in your layout for printing. Scanning for professional printing is done at high resolutions of 1500 dpi or more. This ensures that the pictures are printed life-like and of high quality.

In order to exercise proper control on the money matters of the club it is necessary that proper documentation and authorization should receive attention.

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