Digg It - Business

In early 1992, President George H.W. Bush was riding high. He was sitting on an al

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

most unprecedented 80% approval rating following the first Gulf War. Conventional

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

Examples of combination products may in

isdom pegged him as a shoe-in for a second term.

Arkansas Governor Bill Clinton f

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

ced an uphill battle. He was largely unknown at the start of 1992, facing a very p

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

opular incumbent. Worse for him, his opponent “owned” foreign policy. There was no

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

Combination pro

way to successfully attack him on that front.

So what did the Governor’s campaign

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

do? They got focused. They found (or created, depending on your politics) a chink

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

in the President’s armor: the economy. Every word that came out of the campaign’s

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

ollective mouth had something to do with the state of economic affairs. And just 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

no one would even think about changing the subject, signs were posted in campaign

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

headquarters across the country that read, “It’s the economy, stupid!”

By Novembe

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

Following aspects would a

r, the formerly “unbeatable” President was out of a job. That is the power of a fo

dd to the challenges in developing combination products:

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

used message.

Are your marketing communications that focused? Or do you have one

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

essage on the radio, another in print, and still another online? If so, your messa

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

ges are actually competing with each other instead of your competition.

But a won

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

erful thing happens when all of your “voices” are singing from the same sheet of m

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

Professional from academic institutions, pharmaceutical industries, health care indust

sic: each strengthens the other and together, they dramatically increase your busi

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

ness. You’re spending the same amount of money, but getting vastly greater returns

.

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

A focused message helped the Governor of a small state defeat a President. It ca

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

Companies that provide selfless information through particip

help your smaller business obliterate large competition. That’s smarter marketing

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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Lifelong learning is crucial to ensuring that you and your children are able to thrive in a rapidly changing economic market. Don’t be put off if you have unpleasant memories of school – education is changing too and new techniques make learning more user-friendly.

Starting a business and becoming successful is often part of the American Dream. But there is a difference between starting a business and building a successful business. Many businesses fail within the first few years of existence due to the lack of planning for the long-term.

Referrals. Everyone wants 'em, but few are willing to ask for them for fear of seeming pushy, desperate or sleazy. If you ask self-employed individuals how they would ideally like to build their businesses, they would tell you 'by word of mouth.' I focus on one of the most important referral-generating techniques, so you can get closer to the 100% referral practice.

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Digg It - Marketing: Are You Focused?

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