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As an entrepreneur, I’ve made a conscious decision to distinguish between smart business and good business. Running a smart business means accepting that my time is finite and my expertise doesn’t cover everything, so it’s false economy to try 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

handle all aspects of my business in-house. Dedicating my time and energy to my core functions—serving my clients and building my business—is smarter than allowing myself to get bogged down with the myriad of other tasks. And I know I’m more succe

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

Examples of combination products may in

ssful when I focus my efforts, rather than trying to be a Jack-of-all-trades.

In other words, running a smart business means doing what I do best, and handing off the rest to reputable providers who specialize in “the rest”—including human resour

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

es administration, information technology, lead generation, and so on.

So, what non-core functions are keeping you from running your business the smart way? I’m willing to bet that the necessary evil of data backup is one of them. Since 9/11, the

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

outsourcing of offsite data backup to third party providers has gained significant traction. More and more businesses are recognizing that getting their data backed up and stored by experts greatly improves the reliability and security of their c

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

Combination pro

ritical data protection, while at the same time reducing the time and money they spend on manual data storage.

Here are just a few of the many smart reasons to outsource your company’s data backup functions.

Save Time and Avoid Errors with Au

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

omatic Daily Backups

Thanks to new technology, online data backup and recovery services fully automate the storage process, backing-up your critical data 365 days a year to secure offsite servers. By removing the human element from the backup

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

process, the risk of manual errors (and negligence) is eliminated. And the best part is that you (or your already stretched-to-the-limit IT personnel) don’t need to press a single key to protect your company’s most valuable asset—your data.

E

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

liminate Dependence on Unreliable Backup Media

Traditional backup media become unreadable over time, corrupting your data just as VCR tapes chew up your home movies. Being able to recover lost files is the obvious point of data backup, and ou

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

sourcing the process to a reputable online data backup and recovery service ensures that your backups are accessible when you need them most.

Limit Down-time to Save Money and Your Reputation

When disaster strikes and you need to retrieve

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

your backups, traditional methods are slow and costly. A great deal of time is lost in locating the appropriate recovery disks or tapes, transporting them back to where you need them, mounting the tapes on your system, locating the files you need

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

Following aspects would a

, and restoring the data. But by using an online backup service you can restore information immediately with a click of your mouse.

You need to ask yourself: How much money do we lose per hour of down-time? And how does prolonged down-time affect

dd to the challenges in developing combination products:

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

our reputation? For many businesses, every minute of down-time results in lost revenue, lost productivity, and irreparable damage to customer and investor relations.

Cut Your Costs

By outsourcing your company’s data backup functions, you

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

eliminate all hardware expenses (capital and maintenance) as well as all personnel expenses (time spent on training, cleaning and rotating tapes, testing backup media and recovery processes, and so on) related to maintaining your own backups. Onli

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

ne backup providers charge monthly storage fees that depend entirely on the quantity of your data (measured in gigabytes) and the type of data you’re storing. Look for a service that stores static data (which doesn’t change) at a lower rate per gi

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

abyte than dynamic data (which changes regularly).

Ever Needed a Time Machine?

The ability to store multiple snapshots of your data is another smart reason to outsource your data storage. This feature is particularly useful if you need to

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

Professional from academic institutions, pharmaceutical industries, health care indust

retrieve files that were lost weeks (or even months) ago, or if your industry’s regulations require you to archive data for extended periods. The best online backup services provide this feature at no additional cost.

Use the Internet to Prot

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

ect Your Backups from Local Disasters

Online backup services store your critical data at secure remote data centres. This is a critical part of the service, since any physical backups that you store at your site are vulnerable to viruses, 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

t, vandalism, power surges and dips, and anything Mother Nature can throw at you, including fire, floods, hurricanes, and tornadoes.

Of course, you must evaluate the cost of outsourcing your company’s data backup and storage. But the harsh underb

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

Companies that provide selfless information through particip

elly of opportunity cost (in this case, unrecoverable data) almost always tips the scales in favour of these new online backup technologies. And the ability to bounce back quickly from a frightening critical data loss is smart business at its best

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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Promotional gifts might have been designed to go hand in hand with advertising campaigns and there are great reasons why this combined approach are a sure success for your business. Here are ten reasons why promotional gifts and items make great additions to any business advertising campaign.

CEOs and Presidents often mistakenly treat key management personnel like Jell-O. They throw newly hired executives into the bowl, stir things up a bit, cool things off when things heat up and wait for things to gel. Viola. Perfect Jell-O every time. So why does this recipe always seem to flop?

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