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The old adage you've got to spend money to make money is no where more true than with gift cards. Look around all I've seen advertised on television and i

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

n the newspapers this holiday season has been for the purchase of gift cards. It's as if Walmart, BestBuy and Target don't have any merchandise to sell.

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

Examples of combination products may in

Advertising today is very expensive. People in marketing know that to advertise for 1 specific product nationally or locally can cost thousands if not mil

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

lions of dollars. Is it worth it to sell 1 product. For those interested in that product they might venture into the store and while there, they may purch

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

se other items, but what about those not interested in that product? All that money spent and no direct result seems like a waste. What the marketing depa

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

Combination pro

rtments in these companies have decided to do is push gift cards. In todays fast paced life style, window shopping or browsing is a luxury that most peopl

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

e don't have or don't want to do, with their limited free time. Gift cards are the drive-throughs for these retailers. Quickly pick up a card, plunk down

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

some cash and be on your way. Gift cards have become trendy and very convenient for the consumers.

This sounds good for the consumer but why is the retai

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

er pushing the cards. Do they genuinely want their customers to be happy? Perhaps, but being a synic I can suggest other reasons. Firstly, gift cards are

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

great for cash flow. The cash sits in the retailers account and waits for the purchase at a later time. Secondly some gift cards never get utilised, they

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

might be lost or forgotten. Thirdly, the average consumer when making a purchase using their gift cards, spend more than the gift card amount. Fourthly wi

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

Following aspects would a

th gift cards you cut down on returns to the stores. The cashiers spend less time, merchandise isn't destroyed or abused and inventory amounts reflect rea

dd to the challenges in developing combination products:

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

sales which helps in planning replenishments. Fifthly, these cards can be refilled or exact amounts can be depleted. With gift certificates any unused po

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

rtion was generally give back as cash to the consumer, thus a sale might not really be a full sale.

Having a company, Solutions Ink, in the promotional p

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

roducts industry I've personally seen the dramatic change to gift cards. The next big shift will come in loyalty cards, as these same retailers discover t

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

he benefits of consumer buying patterns. The old adage you have to spend money to make money is true but with todays competitive markets you must spend th

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

Professional from academic institutions, pharmaceutical industries, health care indust

t money wisely. You don't mind spending the money if there is a worthwhile return. We see with Gift Cards that the returns are great, more than offsetting

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

the cents you spend per card. With Loyalty Cards the knowledge gained on consumers buying habits will lead to personalized marketing campaigns to each an

.

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

d every consumer with phenomenal response rates. If you know what your customer is looking for and offer them that product, chances are they will buy it f

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

Companies that provide selfless information through particip

rom you, and appreciate your help in saving them time. Being first to market in your business category will give you a decided advantage for years to come

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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