Digg It - Internet and Businesses Online

I recently gave a talk to an interesting group of business owners and entrepreneurs about th

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 power of Internet Video. One of the highlights I spoke of was about a band who produced a

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

Examples of combination products may in

home made video in their backyard and uploaded the music video to the Youtube video distrib

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

tion site. Within a matter of weeks this bands video was generating a huge buzz and 1 milli

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

on hits a week!

What followed was truly amazing!! They appeared on the MTV music awards, t

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

Combination pro

he Good Morning America show, The Colbert Report and they were given the ultimate cultural t

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

ibute: They appeared on the Simpsons TV show. They have also been featured in JC Penney Ad

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

s and are on their first world tour!

When I asked the group I was speaking to if any of the

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

m were using Internet Video to promote their business, product or service, most of the audie

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

ce said no! I then asked them if they knew about the video distribution channels that can t

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

hey can use to upload their video to. Again they said no! (I will write about this phenome

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

Following aspects would a

na in a coming article)

I found it very interesting why many of these business/entrepreneur

dd to the challenges in developing combination products:

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

did not know about the power of Internet Video and the applications made available. I als

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

o found it odd that as business owners and entrepreneurs they did not know how to use this t

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

echnology or inquire about how to use it or find a partner to develop a video and stream it

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

o their website and upload it to the many video channels avaiable today.

Many of these site

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

Professional from academic institutions, pharmaceutical industries, health care indust

s have built in cross traffic for major visibility and promotion for your business! Take ad

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

vantage of this technology and if you do not know about it, you can hire a college student t

.

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

film your video and upload it to these sites for practically nothing in terms of cost! I w

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

Companies that provide selfless information through particip

ill follow up with another article about the importance of producing your own Internet video

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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LLC is an abbreviation for Limited Liability Company, which describes one way in which a business owner can choose to register his or her organization.

For most of us there comes a day when we toy with the idea of starting a small business; work stress and frustrated career goals can often leave us thirsting for autonomy and starting a small business seems to fit the bill. But for those who are thinking of starting a small business, the road can be one of sacrifice and learning.

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