Digg It - Business

Having been in business for myself for almost 20 years, I have found myself analysing the way I have progressed and developed both in business, and as a person, and t

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

he word that covers this best is philosophy. If your business is not doing well, then it may be worth taking a look at its philosophy.

It may be stating the obvious,

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

Examples of combination products may in

but how successful you and your business becomes, will rely on your (or the businesses) philosophy. I believe that people are in control of their own future, and ca

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

n achieve what ever they want with honesty, integrity, dedication, generosity and a sense of humour.

Business should be fun. People working for you should love what

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

they are doing, you should bring out their talents, find out what they are good at, see if it fits with what you are trying to achieve. If it does wind them up like

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

Combination pro

a coiled spring by motivating them, and let them go at their own project. If their talents do not fit in with what you require, it is unfair to keep employing them.

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

By letting them go elsewhere, they can find their talents, and get the most pleasure from doing something they love doing. The best team you can build is one where t

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

e people do not consider what they are doing as work, they love doing what they are doing and would be happy doing it as their hobby, or without being paid.

Many bus

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

inesses believe that the most important aspect of a business is to make money, and I have watched a few businesses with this philosophy being held back by it. I feel

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

this is the wrong approach. Customers want to be treated like real people not wallets on legs. I once worked for a shopkeeper who quoted the price of a dining table b

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

sed on quality of the potential customers’ shoes, his watch and the car he drove. Clients want a service provider to listen to their problem and solve it for them. B

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

Following aspects would a

y giving them exactly what they want, they will then be happy to pay a fair price your service or product.

Our company makes four poster beds and oak furniture for c

dd to the challenges in developing combination products:

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

ustomers all over the world. They really appreciate me sitting down with them for however long it takes, listening to their needs and offering possible suggestions t

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

o their problems, until we have reached a potential solution that they are completely happy with. When I am still sat down with them I work out how much it will cost,

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

give them the quote, and they virtually always go ahead with the four poster bed or other item of furniture that they would like handmade. You need honesty and integr

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

ity, both from a personal and a business perspective, and as long as you are fair with customers then they seem to be more than happy to pay what you ask.

Deliver on

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

Professional from academic institutions, pharmaceutical industries, health care indust

time, do not be days or weeks out. Handmade furniture takes time. Clients do not mind waiting 12 weeks for a four poster bed that they have been waiting a lifetime

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

o own. It is better to say you will have it done within 12 weeks, and take eight, than say you will make it in six weeks, and then take eight. For other services, suc

.

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

h as Internet book selling, the timing will be much less but the principles will remain the same. Twenty four hour delivery means exactly that, be true to your word.

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

Companies that provide selfless information through particip

Those reading this may not agree, but I have found that by following some of these simple rules, doors will open and opportunities arise more frequently as a result

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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