Digg It - Business

Even when you have planned your list, it may still be difficult to determ

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

ine which names are the best ones to contact for the day. I like to look

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

Examples of combination products may in

at the last time I contacted them and if it is longer than 60 days, the n

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

me gets closer to the top of my list. Once I have looked at all of the li

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

sts, I will have sections of 30-60-90 days. I like to make a mix of best-

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

Combination pro

ustomers to customers that only give me some business and also at least o

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

ne where the customer went elsewhere. The bulk of the calls should be whe

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 you are doing most of your business. Customers do not have to be like h

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

erding rabbits or elephants, they need to be taken care of and fed so tha

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

they come to the same place each time they need your product or service.

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

You can prioritize your call list a number of ways. You can choose the

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

Following aspects would a

priority by dollar volume, the frequency of purchase, or alphabetically.

dd to the challenges in developing combination products:

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

ithin this sorting, you can perform a sub-sort, but which ever way you de

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

cide to do it, you must make sure that everyone is on the list and will b

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

called. Without the touch points, you will lose customers even if you ga

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

in some with referrals. The point here is to get and retain the ones you

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

Professional from academic institutions, pharmaceutical industries, health care indust

ave and gain back those that went away.

Now that your list is prioritize

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

d in a way you think is balanced, then it is time to start making contact

.

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

with your customers. If you are just starting out, your list should have

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

Companies that provide selfless information through particip

people that know you at the top, and the ones that you know at the bottom

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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Should you pursue your MBA before you start your business? More importantly, will your lack of business education prevent you from being a successful business owner? Just like the question of nature vs. nurture, there is more to business success than a formal education.

Everything that we do has a purpose. We do things to please people, to make them recognize us and keep a good bonding relationship among them. Just like advertising materials they are purposively used in order to make a certain business recognizable in the market and meet a certain goal which is to earn more sales and profits.

Gas powered or charged? Cordless or corded? Makita or Milwaukee? What is the real difference between them, and do you really need to know? Of course you need to know.

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