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Digg It - Changing Business: More Media Covering Fewer Stories
We’ve noticed that while there are increasing numbers of news media outlets, the numbers of stories being reporte 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 d on is actually less. This year’s “State of the News Media” report from the Project for Excellence in Journalis ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in m calls this “the new paradox of journalism... more outlets covering fewer stories.” Simply put, increasing numbe lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. rs of news media outlets – print, electronic and online -- are thinning out the audience, thus reducing the numbe here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe r of journalists each outlet can afford to have. Having more media outlets with fewer reporters each is redefini d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ng the relationship between the business press and the institutions they cover. On a national level, corporate n 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 ewsmakers often have more leverage to manage major story coverage because there are so many competing news organi 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 zations jockeying for fresh information and access to official sources. Competitive pressure can also cause a st nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ampede to unconfirmed headlines, as when the national media reported that the Sago miners had been found alive. 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 And some companies make their own negative situations worse when they arrogantly interpret the media’s limitation ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi s as an blanket invitation to obfuscate or obstruct coverage of bad financial reports, industrial accidents, exec ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a utive malfeasance and other “bad news” events. On a more local level, competition among thinly staffed newsrooms dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod keeps many corporate stories – positive and negative – from being covered at all. Business editors are obligated cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin to commit reporters to the same major stories as everyone else, and this understandably makes them protective of tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen what discretionary news hole they have left. As a result, local-market business editors around the country routi 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 nely pass on legitimately newsworthy events because they simply don’t have reporters available, or because the st ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust ory is being covered by someone else. This of course doesn’t phase the flackery industry, which continues to inu y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ndate business media with unsolicited company press releases and story “pitches.” Rocky Mountain News business e . 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 ditor Rob Reuteman figures he gets 1,200 publicity pitches each week. If he spent on average two minutes reading elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip and considering everything directed to him – he’d spend 40 hours a week doing nothing else. . . . . . . . . . . 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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