Digg It - Business

If you attend networking clubs, service clubs or Chamber of Commerce Meetings to

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

meet people, promote your company and also help the local community while joini

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

Examples of combination products may in

ng with other businesses in a common cause, well I salute you for your efforts.

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

It is great to see like-minded business folks out doing the right thing. For tho

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

e of you who do not do such things to help their business, perhaps you sell to p

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

Combination pro

eople who are all outside your area where you live and instead you network onlin

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

e.

If you are considering doing a little networking and have not yet done so, w

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

ell good for you and I have a bit of advice and that is; it is somewhat unwise t

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

go to such meetings and start selling to everyone you meet. Working a room is f

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

un and it is great to see if you can at least meet each person at the meeting, i

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

f there is time. But more importantly you need to learn and most of all listen t

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

Following aspects would a

o them and find out about their businesses and customers and contacts.

Perhaps

dd to the challenges in developing combination products:

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

hey are friends with someone you need to know to help your business or perhaps y

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

ou might be able to help theirs. Often you might find that whatever it is your b

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

usiness does is something that they need and if so, it is smart to contact them

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

on their own time schedule and not while holding a paper plate of specialty food

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

Professional from academic institutions, pharmaceutical industries, health care indust

and a plastic cup with a drink in it.

It just makes for a silly and awkward si

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

tuation and defeats the purpose of the networking event. Selling at networking m

.

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

eetings does not make sense and prevents you from meeting others. Instead exchan

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

Companies that provide selfless information through particip

ge business cards or flyers and contact them later on. Consider all this in 2006

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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