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There are basically two products/services that can be marketed. One is called co

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

mmodities, the other is called new market development.

Commodities

These are p

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

Examples of combination products may in

oducts or services that have a commonly accepted benefit and a generally known a

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

nd accepted price per unit. An example is a can of green beans, which "costs" ab

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

ut $.55. Brand name green beans, which have a recognized, dependable name, can c

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

Combination pro

st a little more than "generic" beans. Generic products, however, are now becomi

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 a commodity by repeated acceptance of the value (product's price), partially

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

ecause "known" stores are offering them, along with the reputation of the store

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

eing put on the line. Generic "colas" are similar to "Coke", but not quite the s

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

ame. A customer must decide if the taste difference justifies the cost differenc

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

- the higher price of "Coke."

New Market Development

This is bringing to mark

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

Following aspects would a

t products or services which are not (yet) commonly perceived as to the value of

dd to the challenges in developing combination products:

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

the benefits. This realm is for the bold. To prosper is to promote and create t

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

e perceived value of the product or service, in a way that has minimal risk of l

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

ss for the gamble taken. How to develop promotions wrapped around "added values"

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

is all over the manual, however, know that new products can have sizzling profi

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

Professional from academic institutions, pharmaceutical industries, health care indust

s wrapped around them, if you know and use the three essential components needed

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

for every effective promotion.

1) Make the big benefit promis

.

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

e, with your unique way of delivering it.

2) Document all cla

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

Companies that provide selfless information through particip

ms

3) remove all risk of buying your unproven product/service

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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Digg It - Levels of Marketing Activity, Part I

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