Digg It - Business

A pretty smart guy reminded me recently of the reason we're in business. He said it's

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

to "create customers."

I thought about that and decided I had to agree.

Our busine

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

Examples of combination products may in

sses exist for a reason. I use to think the reason was to make widgets (insert your p

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

roduct or service here). But our customer needs to come first because a warehouse ful

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

l of widgets does not a business make. However, add a line of several hundred people

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

Combination pro

t that warehouse with money in hand eager to buy those widgets, now you have a busine

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

ss!

So, to really make your business work, put your customer first. Create them by f

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

irst discovering who they are and then by giving them what they want.

I'm no more sk

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

illed at this than anyone but since I run a small business I have found the best way

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

to do this is to simply ask questions. Have conversations with your customers (past,

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

resent and future). Ask them why they do business with you or your competition. Find

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

Following aspects would a

out what they really want from companies like yours. Learn what causes them pain and

dd to the challenges in developing combination products:

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

pleasure. Be truly interested in them.

Find a way to build this into your routine. T

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

he more people you talk to and learn about (with regard to your product or service) t

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

he more you will know what your customers really want from you.

The fun thing about

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

his is you meet a lot of wonderful people in the process. And, you develop the abilit

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

Professional from academic institutions, pharmaceutical industries, health care indust

y to match your company's strengths with what your market wants. You find out what yo

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

u can and should offer as well as what you can't or should not offer.

The other nice

.

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

thing about this idea is that it helps me remember that we are in business to serve

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

Companies that provide selfless information through particip

our customers. That is our top priority. If we do that well the rest falls into place

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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Choosing an accountant shouldn't be left to chance, follow these simple steps to success...

An online degree in Human Resources Management prepares the graduate for a career related to recruitment, selection and termination of employees, as well as overseeing employees' training, compensation, benefits, and working conditions.

In creating your own flyer, you can just use Photoshop and Word. If you however want to do it close to that of a professional, you can use Indesign or QuarkXPress. Just prepare your photos in Photoshop and then transfer them into Indesign or QuarkXPress. Word can be used to layout your design, but it will be very difficult to have it the way you want it to.

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Digg It - Creating Customers

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