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Digg It - Notes for Newbies - Part Ten - Your Dream
Hello again
Today we want to talk about your dream. I want you to think about why you are doing all this. Yes, we have talked about how you can earn really big money in this business :-), but that’s not really what it’s
Today we want to talk about your dream. I want you to think about why you are doing all this. Yes, we have talked about how you can earn really big money in this business :-), but that’s not really what it’s
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
all about. It’s not about the money. The real reason driving this new adventure of yours is lifestyle: when you are earning big bucks, you can fund the lifestyle you have always dreamed about :-) :-).
Your dream<
Your dream<
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
/strong>
You need to be very specific about your dream (this is a trick I learned from my guru – my mentor). Do you want to travel and have adventures? If you do, you need to set some very specific goals.
Do you wan
You need to be very specific about your dream (this is a trick I learned from my guru – my mentor). Do you want to travel and have adventures? If you do, you need to set some very specific goals.
Do you wan
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
to cycle around Europe, trek in the Himalayas, hike the Appalachian Trail, walk from Land’s End to John O’Groats or motorbike across the Sahara? Do you want to fly first class to six-star resort hotels in exotic locations? Do yo
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
u want to cruise the world on luxury liners, sitting at the Captain’s table? Maybe you just want to hang out at Raffles or the Connaught, sipping Earl Grey and eating cream cakes in the afternoon. Perhaps travel from London to Be
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
jing by first class train?
Do you want to fly your own aeroplane around the world (my choice is a Beech 18S – the one that flew Ingrid Bergman away from Casablanca, leaving Bogie behind, standing sadly in the dark)? Ever
Do you want to fly your own aeroplane around the world (my choice is a Beech 18S – the one that flew Ingrid Bergman away from Casablanca, leaving Bogie behind, standing sadly in the dark)? Ever
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
thought about climbing the Matterhorn, the Eiger, K2 or Denali? How about a free-fall parachute jump from 35,000 feet? Running the London Marathon? Maybe a free dive to 250 feet? The list is almost endless, limited only by your
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
imagination.
My point is it is not enough to have just some vague sort of a dream to ‘travel’ or ‘have an adventure’, you must be very specific about what you really want to do.
Grab your A4 pad once again and m
My point is it is not enough to have just some vague sort of a dream to ‘travel’ or ‘have an adventure’, you must be very specific about what you really want to do.
Grab your A4 pad once again and m
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ke some notes (this A4 pad of yours is getting some use, isn’t it?). What do you want to be doing exactly one year from today? How much cash will you have in the bank? How many names will you have on your list? Where will you be
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
living and what car will you be driving? Will all your debts be paid then, or will you still owe just a bit?
Put that sheet of paper aside and start again, this time asking yourself where you’ll be precisely two years fr
Put that sheet of paper aside and start again, this time asking yourself where you’ll be precisely two years fr
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
m today. Ask yourself the same questions and write down your answers. Repeat the process for three, four then five years.
Now pick up five 3 x 5 index cards (yes, they’re still available) and transfer your specific goals
Now pick up five 3 x 5 index cards (yes, they’re still available) and transfer your specific goals
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
for each year to separate cards. Finally, tape all five cards to the wall above your desk. Every time you sit down to do some work, look at them and think about them before you begin.
I think you have the idea now. It’s
I think you have the idea now. It’s
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
not good enough to say your goal is to ‘provide for my family’. You must be specific: ‘I want to see all the kids – or grandkids – through university, I want to build a granny annex for Mum when she can no longer live on her own
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
I want to go into partnership with my brother to buy that engineering works he has always wanted to own.’
Keep in mind your dreams may change over time. A year from now you may decide you’re not really that interested i
Keep in mind your dreams may change over time. A year from now you may decide you’re not really that interested i
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
n golf, but you might like to try learning a little bit about bridge, or painting or snowboarding. It’s okay to change your mind. My point is you need a specific plan, not just a vague idea about what you want to do.
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
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
ong>You must believe in yourself!
You must believe in yourself. All the gurus will tell you this. You must never, ever doubt you can achieve these dreams! This is very easy to talk about when we are sitting here thi
You must believe in yourself. All the gurus will tell you this. You must never, ever doubt you can achieve these dreams! This is very easy to talk about when we are sitting here thi
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
nking about making all these lovely plans, but not so easy in the real world, especially at the beginning.
It’s not quite so easy when the classified ad you thought would bring in 100 new names for your list and five ord
It’s not quite so easy when the classified ad you thought would bring in 100 new names for your list and five ord
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ers only delivers ten names and one order. It’s even tougher when your mentor savages the sales letter you have slaved over for weeks – the letter you genuinely believed was going to be your key to fame and fortune.
The
The
.
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
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
ne thing all the gurus have in common is this: they refused to give up on their dreams. They never gave up believing in themselves. You must do the same.
That’s all for this time. See you soon.
Next time we shal
That’s all for this time. See you soon.
Next time we shal
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
l talk in detail about networking, mentoring and getting some help when things don’t seem to be going too well.
Thanks for listening :-)
Copyright © 2006 Rice-Johnston & Golden Goose Direct. All rights reserved
Thanks for listening :-)
Copyright © 2006 Rice-Johnston & Golden Goose Direct. All rights reserved
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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