Digg It - Business

Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selecti

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

on, development and commercialisation.

There are other useful definitions in this field, for example, creativity can be

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

Examples of combination products may in

defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.

There are distinct

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

processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea s

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

lection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes im

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

Combination pro

prove the probability that good ideas will be generated and selected and that investment in developing and commercialisi

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

ng those ideas will not be wasted.

Value versus Quality

Most firms attempt to add value to their products or

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

services in order to increase sales and prestige. However, few appreciate the difference between value and quality. But

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

y doing so, they can more finitely increase their options for adding both value and quality.

a) Quality is directly rel

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

ated to the product itself. A firm can increase a product’s quality, but that increase may or may not be profitable. For

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

example, Microsoft can increase the quality of its Windows operating system but that may not lead to an increase in val

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

Following aspects would a

ue for the customer. This is especially true when a product reaches maturity, as options for improving the cost/performa

dd to the challenges in developing combination products:

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

ce mix begin to dwindle after years of improvement.

b) Value is the worth of the package as a whole and the relationshi

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

p to the quality of each part of the package is tenuous. For example, Microsoft increased the value of the Windows packa

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

ge by adding Internet Explorer. Neither of the two products was optimised for quality but together they made a more valu

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

able and irresistible offer to the customer.

These and other topics are covered in depth in the MBA dissertation on Man

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

Professional from academic institutions, pharmaceutical industries, health care indust

ging Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Genera

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

tor Software and Power Point Presentation) from http://www.m

.

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

anaging-creativity.com/

You can also receive a regular, free newsletter by entering your email address at this site

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

Companies that provide selfless information through particip

.

You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained

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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Dr. Gary S. Goodman, President of Customersatisfaction.com, popular speaker, and service and sales coach, says a sure way to make customers think you're handy to keep around is by doing something extra.

How Do You Score with your Clients? Do they routinely give you repeat business, testimonials, and referrals to others? The only way to accomplish this is...

When we work in organisations we see weaknesses in the way in which people are made accountable for processes. In many cases we find processes for which no one is accountable. In these cases it is clear that the processes are not being tracked for effectiveness or efficiency. When the business environment changes it becomes next to impossible for an organisation to effect changes to the process that are necessary to reflect that change in the business environment.

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