Digg It - Business

I enjoy cleavage as much or even more than the next guy. However, after reading my latest issue of Men’s Health mag

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

azine, I checked my Encarta dictionary and looked up the word “cleavage”.

There is business science in “them der h

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

Examples of combination products may in

lls”, namely the division or splitting of something, and last but not least, “the hollow visible between the breast

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

of a woman wearing a low cut garment”.

Suffice to say, I was very relieved that I had not been bastardizing the u

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

e of the word cleavage all these years. But it is never to late right?

Why mess up such a beautiful word as cleava

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

Combination pro

e by coining a new term, “Corporate Cleavage”? Well, if I am not thinking about “my wife’s cleavage”, I am definite

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

y always focused on business.

The two words together can describe a business or corporation in such an accurate wa

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

.

For the mean time think corporate exposure or effective marketing. A corporation these days doesn’t want to cros

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

the line and expose too much, or too little, about their business or product.

They simply want to get just enough

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

exposure, to get enough interest to keep the shareholders happy.

Are you noticing the similarities?

“So where doe

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

the division or splitting of something come in to play?”

Great question, glad you asked. I will assume that there

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

Following aspects would a

are two parts to every business. There will always be a product or service that is accompanied by a sales and mark

dd to the challenges in developing combination products:

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

ting strategy.

I believe the division between product and sales is very important. The closer together these two p

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

rts of a business or corporation can theoretically come together, the better the results. The farther the divide or

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

split between service and marketing, failure becomes eminent.

“Corporate Cleavage” exists in every business today.

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

Expose too much and you may damage your business to the point of no return.

Then there are those that believe too

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

Professional from academic institutions, pharmaceutical industries, health care indust

uch exposure or bad press…sorry Janet Jackson, is never a bad thing.

Also ensure there isn’t a great divide betwee

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

the product or service you are selling, and the sales and marketing strategy you use. Listen to the Beatles song “

.

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

ome Together” for additional advice.

Either way, ensure your business is mindful of the low cut garments it wears.

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

Companies that provide selfless information through particip

by Lee Raito, CFP, FMA
Co-Author of Business Sexcess

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

In the future what type of advertising will we see? Will the advertising be similar to that of movie; Minority Report? Many believe it will and many of those technologies are indeed becoming a reality. Why you ask? Well because some of these technologies are already here and ready to hit the market.

An effective business must communicate its ethical and performance standards to the staff and customers otherwise nobody knows the reasons for existance, standards, and goals. Don't keep it a secret.

Question - I've been charged with buying my company's first pop-up exhibit. What are some of the key things I need to know about pop-ups and vendor selection before I make my first purchase?

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