Main Subject - Business

Being in business for yourself is tough. It gets really hard when you come to realize tha

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

t you need to make a significant change to the way you do business and this change will im

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

Examples of combination products may in

pact the customer. Perhaps the change is an increase in price, or a change to the way you

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

extend terms, or maybe your product line has to be updated.

When this happens, owners wi

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

ll formulate what I refer to as SID, Self Induced Doubt. They become afraid to make the n

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

Combination pro

eeded decision to improve their business practice for fear of loosing their customers.

Lo

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

yal customers (and you do have loyal customers, right?) may show some resistance, but that

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

is a natural response by everyone when it comes to change. Astute owners will recognize

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

that loyal customers have chosen them as their company of choice, and hopefully you have n

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

urtured that relationship and demonstrated that you truly care for them as customers. Loy

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

l customers will understand that change is necessary to stay competitive, to continue prov

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

Following aspects would a

iding top quality products or services, and to ultimately stay in business.

The trick to

dd to the challenges in developing combination products:

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

successfully transitioning in these instances is to position the change as a benefit to th

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

e customer. Give them notice of the change and offer assurance that the change is a good

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

thing for them. Your loyal customers will stand by you, your satisfied customers will com

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

plain, but stay, and your unhappy customers may leave. So, am I saying that some customer

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

Professional from academic institutions, pharmaceutical industries, health care indust

s will leave? Possibly, but those that do were probably problem customers anyway, late wi

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

th payments, asking for unreasonable service, etc. If they leave, perhaps it will be a go

.

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

od thing. Your company will be stronger for it.

Don't be afraid to change. Without chan

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

Companies that provide selfless information through particip

ge there is no improvement, there is no progression, there is no growth.

To Your Success

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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A corporate or company logo plays an important role in projecting its image to the people. As a result, it is very important to evaluate whether your company logo depicts the right image or not.

Many employees do not wish to work hard; some are disillusioned and others feel the pay and benefits are substandard. Indeed although the unemployment is below 5% some feel that they are under employed.

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Main Subject - Loyal Customers Will Persevere

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