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Corporate gift giving is a popular practice, and it will only continue to grow in popul

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

arity over the next years. Of course, if you are just getting started in corporate gif

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

Examples of combination products may in

giving, there are a few things you should know:

Who can you give corporate gifts to?

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

· Clients

· Employees

· Business Associates

Which occasions is corporate gift giving

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

best suited to? Practically any occasion:

· To promote your company and its products

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

Combination pro

nd services

· To say “thank you” and show your appreciation to employees, clients, or

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

omeone who has referred business to you.

· To motivate and to encourage employees and

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

clients

· To celebrate and congratulate on a promotion, retirement, wedding, new addit

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

on to family, etc.

· To welcome new employees

· Company anniversary

· Holiday gifts

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

· Personal achievements

· Company achievements

· Sympathy and “get well”

Other impor

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

ant corporate gift giving guidelines

· Before giving any corporate gift, check and be

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

Following aspects would a

ure that corporate gift giving is allowed with the company of your client or potential

dd to the challenges in developing combination products:

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

lient.

· Do not give any personal gifts. Instead, stick to mainstream gifts that anyo

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

e can enjoy, like food gift baskets, desk accessories, tickets to sporting events or th

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

e theater, restaurant gift certificates, electronic gifts, etc.

· Do not give gifts in

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

order to compensate your employees for poor wages. A corporate gift should be somethin

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

Professional from academic institutions, pharmaceutical industries, health care indust

given in addition to, above and beyond, the wage or salary of an employee.

· Try to a

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

oid holiday corporate gift giving mishaps: find out the religious and cultural backgrou

.

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

ds of recipient before sending Christmas gifts, for instance.

· When possible, conside

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

Companies that provide selfless information through particip

giving the gift in person. Be sure to check with the schedule of the recipient, first

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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