Main Subject - Business

Values Based Pitfalls

To make your strategic alliance, collaboration or partnering relationship successful, watch out for the pitfalls and roadblocks.

In looking

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

at the issue of values, frequently partners of an alliance will have core values that are conflicting. This is especially a problem with issues like trust and integrity. C

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

Examples of combination products may in

rporate culture clashes; employee turf protection, and resistance of certain employees to new ideas can wreak havoc on your efforts to maintain a prosperous alliance.

Whe

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

one of the alliances partners does not completely embrace the principles of Partnering, big challenges occur. This can include top-level executives or even supervisory an

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

functional employees in departments, divisions or regions within a Partnering organization. As an example, DuPont believes that if a contractor is looking just to maximiz

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

Combination pro

his profits, on just one job, then Partnering with that contractor is not for DuPont because they know there will be problems in the relationship.

Because the dynamics o

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

alliance relationships are constantly changing, inflexibility of partners can kill an alliance quickly. Each member must be willing to give a little, especially in times

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

of change for a Partnering agreement to work. Just as devastating is a partner making a Partnering commitment, and having a hidden agenda that would be destructive to the

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

lliance. Not quite as bad is a partner deciding they don't want to follow through, or one that does not have the capability to fulfill their commitment.

Supplier relation

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

hips can become challenging, especially when business is great. Suppliers can make the relationship mistake of conveniently forgetting about the loyalty of smaller long-te

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

m customers, and snubbing them for the larger orders. This is short-term profitability and long-term disaster. When those large order companies go out of business or are c

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

Following aspects would a

nsolidated, the supplier could be left without any customers.

Complacency of either partner is an insidious relationship-killer. Continuously ask your alliance partner qu

dd to the challenges in developing combination products:

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

stions in a way that encourages them to relate performance problems and shortcomings. Ask, "What haven’t we done lately?" And ask, “What is it you really need from us?”

D

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

pendency on your alliance partner can put your business at a similar risk. If you become the weak link in the alliance and your alliance relationship no longer delivers va

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

lue to your partner, more than not, they will discontinue the alliance.

If you or your alliance partner is not relationship oriented little problems can easily escalate.

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

hen anger comes and the blaming others for your current situation. The not invented here, mentality often exhibited by senior management is a result of low relationship to

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

Professional from academic institutions, pharmaceutical industries, health care indust

erance. Also the lack of commitment to the alliance or innovations developed by alliance partners can easily slay your relationship.

There is the situation where you migh

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

lose control of a technology or best practice to an alliance partner who later becomes a competitor. Staples and Office Depot were going to merge but it did not work out.

.

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

A problem for Office Depot was that Staples learned of an Office Depot best practice during the merger talks. Office Depot was delivering COD to small businesses in the no

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

Companies that provide selfless information through particip

theast and getting most of the business. After the failed merger, Stapled duplicated Office Depot’s practice and took away Office Depot’s competitive advantage in the area

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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If you are thinking of getting into the medical billing industry, you might want to read about some common on the job problems you are bound to run into. Doing so may just save your life.

Now Government wants to eliminate LIFO. LIFO stands for Last In, First Out. It is an inventory costing methodology. The last in, first out, or LIFO method, selects the most recent purchases whose quantities add up to the total number of items sold during the year. The last in, or most recent purchases, are the first charged out to expense. The primary theory of the LIFO method is that products sold have to be replaced to continue in business and that the most recent (i.e., the last in) costs are the closest to the costs of replacing the products sold. From a tax standpoint, LIFO minimizes tax consequences by using the highest cost of inventory which reduces reported profit.

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