Digg It - Business

For two winters I heated my house with an old fashioned woodstove. I learned the art of revivi

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

ng a bed of dying coals each chilly winter morning, adjusting the kindling, firewood and dampe

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

Examples of combination products may in

rs just right so that the stove would heat my turn-of-the- century farmhouse for the longest p

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

riod possible.

I had the choice of four vendors to buy my hardwood from. All were local, all

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

sold at the same price, and all had the same quality of hardwood.

But only one supplier, a ch

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

Combination pro

racter called Joe Meiser, advertised same-day delivery at no extra charge. Joe got my business

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

.

Joe got my business because he differentiated himself from his competitors in a way that ap

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

pealed to me. You need to do the same to remain competitive.

You need to decide what makes yo

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

different from your competitors, and you need to promote that uniqueness in your sales letter

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

s. Just make sure your differentiator is compelling and actually differentiates you.

"Quality

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

Service" is not a differentiator. It's a given. So is on-time delivery and the ability to meet

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

Following aspects would a

budgets.

Instead, differentiate your firm based on your competence in your industry or marke

dd to the challenges in developing combination products:

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

t category. Or be first at something. Or invent something. Just make sure that your differenti

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

tor is relevant and attractive to your prospects.

Joe Meiser also had a great guarantee. If y

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

ou know anything about heating your home with a woodstove, you know that Joe sold and delivere

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

his wood by the bush cord. One bush cord measures 4ft wide x 4ft high x 8ft long. He dumped i

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

Professional from academic institutions, pharmaceutical industries, health care indust

t in a big pile on my front lawn, and I then had to stack it in neat rows around my property,

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

by hand. Here was Joe's guarantee, always delivered with a straight face but a twinkle in his

.

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

lue eyes:

"I dump your eight bush cords in your yard with my truck," he'd say. "Y

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

Companies that provide selfless information through particip

ou try da wood. If you don't like it, you bring it back and I give you new stuff."

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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What is good customer service? That's a question that often haunts both marketers and consumers alike, mainly because their definition of this sometimes elusive concept is at odds with one another. Young people who work the counters will often lament what they consider to be the outlandish expectations of their customers, which they feel are

You couldn't help but be captivated by the unbelievably cute kid with the amazingly controlled falsetto voice and electric dance moves. He was only 10 years old, when he exploded onto the music scene...

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