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Main Subject - Understanding Today's Generation: The Millenials
You have heard of Generation X, Generation Y and Baby Boomers. There is a new generation called the Millenials, and they are now of the
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
marrying age. In order to best serve this new group of twenty-somethings, it’s important to understand where they are coming from.
Mill
Mill
; 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
enials have a strong bond with the technological age. They were practically born with a mouse in their hands and understand text messagi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ng and instant messaging (also known as IM’ing) better than many of us understand how to email. With their ease around a keyboard, they
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
have a different mentality about interacting with people and within their relationships. Understanding this generation will help you be
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
uccessful with your clientele.
In general, the Millenials:
•Are well educated. Most have a post-high school education.
•Are more
In general, the Millenials:
•Are well educated. Most have a post-high school education.
•Are more
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
financially self-sufficient as compared to older generations.
•Are results oriented. They want results and have little concern for
•Are results oriented. They want results and have little concern for
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
the manner in which it is achieved.
•Want to be heard and to share their ideas.
•Want to be involved in every aspect of the pr
•Want to be heard and to share their ideas.
•Want to be involved in every aspect of the pr
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
oject.
•View maintaining contact as essential, but not via phone or face-to-face meetings. Text messaging and emails are the prefe
•View maintaining contact as essential, but not via phone or face-to-face meetings. Text messaging and emails are the prefe
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
rred means for communication.
•As a result of their communication styles, there is a higher expectation for an immediate response.
•As a result of their communication styles, there is a higher expectation for an immediate response.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
here is an expectation that you are available 24/7 and your replies will be lightening-quick.
•Seem to have less ability to manage
•Seem to have less ability to manage
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
their stress levels.
So what does this mean to you? To begin with, their inability to manage their stress may cause you to feel stress
So what does this mean to you? To begin with, their inability to manage their stress may cause you to feel stress
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
ed out. Do your best not to get caught up in the client’s stress. Maintaining a calm and removed position will help you stay objective a
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
nd portray a level of confidence that will help in calming your client.
Make sure you set firm, but reasonable, boundaries. The client
Make sure you set firm, but reasonable, boundaries. The client
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
may have the belief that “the customer is always right.” If you fall into this premise, you may end up doing something that you will res
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
ent in the end. Be up front in a friendly manner with your availability, contracts and your own expectations. This establishes a level o
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
professionalism that conveys to the client that you are secure with your own expertise and minimizes the likelihood of misunderstanding
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s and conflicts later.
Since they want to be involved in all aspects of planning, it may initially feel intrusive. Why hire a professio
Since they want to be involved in all aspects of planning, it may initially feel intrusive. Why hire a professio
.
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
nal if they want to do all the work themselves? Remember, they came to you and hired you. There is some aspect of the project that they
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
don’t have or cannot access independently. Really listen to their needs and expectations. Together, you can have a successful experience
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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