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Main Subject - Evaluating and Profiting from a Business Opportunity
The first in a series
Besides being a car made by General Motors, Cadillac was once an adjective used to describe the best. Times change, people change, things change; n
Besides being a car made by General Motors, Cadillac was once an adjective used to describe the best. Times change, people change, things change; n
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
ow maybe more than any other time in history we have to deal with more important, future impacting changes than we can possibly imagine.
Our security is being threatened
Our security is being threatened
; 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
on all fronts. Corporations look at employees as checkers to be moved around on a checkerboard until they are no longer of any value. Decisions about our money, either to
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
help us grow or to fund retirement are made mostly by people who are motivated by how much money they can put in their pockets. Often it seems that everyone is focused on
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
the transaction, not the relationship; that they have to get theirs as fast and as much as they can before anybody else.
How do you protect yourself in such an environm
How do you protect yourself in such an environm
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nt?
You need to get control over your future. You need to make informed decisions and you need to use your resources, your skills, your experience, your desire -- to mak
You need to get control over your future. You need to make informed decisions and you need to use your resources, your skills, your experience, your desire -- to mak
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
whatever it is you want -- happen.
You need to consider going into business for yourself.
I remember when I did. I was located in Phoenix and was the Vice President in
You need to consider going into business for yourself.
I remember when I did. I was located in Phoenix and was the Vice President in
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
charge of the western states for a company based in New York. One pay day back in 1973 a couple of employees came back from lunch and told me that the bank wouldn't cash
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
their checks, there was no money in the account. I called the accounting department and was told that the company had filed bankruptcy that morning, that all the accounts
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
were frozen. I was also told that most of the checks cashed in the last five or so days would bounce. This was a big problem for me. I had recently received and deposited
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
a bonus check, my salary, several months of expense reimbursement checks (totaling about $50,000 in 2006 money) and had spent it. When I told my wife, she asked, "Where a
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
re you going to get a job?"
I said. "I don't have time to get a job, I have to make some money -- now."
Most of us think that our security comes from who we work for. I
I said. "I don't have time to get a job, I have to make some money -- now."
Most of us think that our security comes from who we work for. I
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
doesn't. Our security is what we have in our brains, what we are willing to do with our time, and our ability to make decisions.
Anybody can go into business for themse
Anybody can go into business for themse
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
ves. If you decided what courses were the best to take. If you bought a car, decided where to live, or bought a house, you learned how to make decisions.
Understand your
Understand your
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
self, start letting everyone you know that you want to be in business for yourself. Start looking at every opportunity that interests you and learn how to analyze what yo
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
see and hear. Then identify your resources, understand the different ways you can get started like buying a percentage of a business, taking an option on a business, or
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
rading your service for ownership and get started.
Certainly you will need help and information. Continue to look here for more articles taken from my book, How to Evalu
Certainly you will need help and information. Continue to look here for more articles taken from my book, How to Evalu
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ate and Profit from a Business Opportunity -- The Entrepreneur's Guide. And check my web site for more information.
The rate of change isn't going to slow down. There's
The rate of change isn't going to slow down. There's
.
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
no sense worrying about something you can't fix -- like Social Security, or if GM will file bankruptcy, or if the people who run your company will outsource your job. Ins
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
ead concentrate on how to get more people to buy the products and services you provide from your business.
The author can be reached at www.businessstrategyartconsoli.co
The author can be reached at www.businessstrategyartconsoli.co
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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