Digg It - Business

With the arrival of Spring, I decided to get outside and into my garden. I had neglected to do some basic maintenance

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

during the previous months and wondered if my plants suffered any permanent damage as a result.

My flower bed was fu

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

Examples of combination products may in

l of dead foliage and there wasn't a sign of new growth anywhere. I spent a considerable amount of time removing the

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

ead foliage in order to allow room for the new growth to emerge.

I was pleasantly surprised to see new growth already

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

emerging once I removed all of the dead foliage. I gave the plants plenty of water and fertilizer as a final step, an

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

Combination pro

moved on to other yard work tasks.

A couple of hours later, I looked at my plants and was amazed at how much they ha

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

grown. They had literally doubled in size! I was expecting to see some results, but not so much in such a short amou

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

t of time.

After assuring myself that I wasn't seeing things, I realized what had happened and why, and how it relates

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

o Marketing your Business.

Here are the lessons from my garden:

1. Look At What You Have Already Planted:

How are you c

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

rrently marketing your business? Think about who you are marketing to and the results you are getting from your efforts.

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

Are you getting the results you want, such as more clients and increased revenue?

2. Remove The Dead Foliage:

If you a

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

Following aspects would a

re not getting the results you want from your current marketing efforts, it is time to look at what is working and what

dd to the challenges in developing combination products:

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

s not.

Once you determine what is not working, you need to remove it and replace it with more of what is working or ad

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

something new that will work for you.

If something is dead, it can not grow. Stop focusing your time and money on mar

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

eting that is killing your business.

3. Prepare For Growth:

Once you have removed what is not working, you will have mo

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

e room to focus on improving and growing your business.

Analyze what is working for you and why. Then do more of it and

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

Professional from academic institutions, pharmaceutical industries, health care indust

add other strategies that will give you similar results.

Create systems for your business based on effective marketing

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

in order to ensure continuous growth.

It may seem like magic when the growth suddenly appears in your business, but it

.

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

will actually be the result of simply removing what is not working for you and replacing it with effective marketing.

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

Companies that provide selfless information through particip

The magic is in watching your business bloom!

Copyright 2004 Black Unicorn Communications, Inc.
All Rights Reserve

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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Job satisfaction comes in many guises. Perhaps, some workers feel connected, some receive recognition for jobs well done, some believe in what their company is accomplishing in their community, in their industry, or in the world, perhaps they have a manager who has inspired passion in their performance. In Roger Miller’s Country-Western song, Kansas City Star, the story has a hero that believes his job has almost all of that. He is the host of a kid’s television show, where he has admiring viewers, he’s recognized for what he does, and he is sought after in the community.

Partnerships, like marriages do not always last. How can former partners agree on a fair market value of the business?

In the first part of this series, I introduced you to Julie, the owner of Julie's Mansion, a creme-de-la-creme restaurant where I went as a young college student to learn about marketing. Now I’ll give you just one example of the eccentric things this man did in his own place of business....to build a reputation and a loyal following of customers...and the media too.

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