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Digg It - Creativity Creates Real Wealth
So many businesses are just plain dull. Totally lacking is that spark of creativity and energy. Instead, an image of decadenc
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
e and boredom. I try to avoid shopping in these places. I bet many other people do likewise.
I'm always on the lookout for t
I'm always on the lookout for t
; 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
e guy who dares to be different. Who believes his customers are entitled to a little theater in their shopping experience.
I
I
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ve been a retailer for 40 years and in that time I've learnt a lot about the retail business. Something which is never fully
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
learnt or even properly understood is the element of creativity. The importance of finding creative ways to attract customers
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
and even more creative ways of selling to them.
Retailing is a highly competitive business and the giants in the industry ar
Retailing is a highly competitive business and the giants in the industry ar
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 more like giant killers with their massive buying and selling power. Yet, their size can also be a handicap. The bigger you
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
get, the harder to manoeuvre.
There you have it. Problems for the small operators to combat the big guys and problems for th
There you have it. Problems for the small operators to combat the big guys and problems for th
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
big guys who can't respond quickly enough to counter his smaller competitors. Nobody is immune from competition. No such thi
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
g as a monopoly in this day and age.
Peter the Painter runs a small paint shop in a busy street near my home. His store is a
Peter the Painter runs a small paint shop in a busy street near my home. His store is a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
little untidy and really not suitable to be located in a big shopping mall. Peter sits on a stool outside the shop and chats
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
to people as they walk past. Never know who might end up being a customer!
The other day I wanted to buy some cans of spray
The other day I wanted to buy some cans of spray
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
aint. Not being a good handyman I decided to call on Peter and ask his advice. After describing what I wanted and commenting
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
hat I wasn't sure how many cans I needed, Peter suggested that 2 cans were probably enough, but if I needed more to come back
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
the next day.
Actually, Peter knew damn well I needed 4 cans, but only had 2 cans of the color I needed. But he wasn't going
Actually, Peter knew damn well I needed 4 cans, but only had 2 cans of the color I needed. But he wasn't going
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
to let me go without buying those cans he already had in stock.
Sure enough, I needed 4 cans. So, next day I returned to the
Sure enough, I needed 4 cans. So, next day I returned to the
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
shop for more cans. And Peter was smart enough to make sure they were there, awaiting my return.
Peter the Painter is not t
Peter the Painter is not t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e sort of guy who will paint the town red, but his charming and creative way of talking to customers adds a real dash of colo
.
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
to his business. I'll continue shopping at his store.
I'm sure many readers have shopping experiences that could prove help
I'm sure many readers have shopping experiences that could prove help
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
ul to retailers. I'd like to hear from you. My aim is to use these stories to make the articles both helpful and entertaining
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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