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You are here: Home > Business > Ethics > Balancing the Needs of Customers and Shareholders in a Public Corporation |
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Main Subject - Balancing the Needs of Customers and Shareholders in a Public Corporation
Many people say; It is All About Money when it comes to big corporations. Well yes, that is their job to make money and ye 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 if you look around today you will might take a look and see that every thing you see everywhere you go was brought or bu ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in lt by a corporation. You cannot have it both ways. These people say that the corporations only care about shareholders equ lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ity and quarterly profits and cannot therefore focus on customer needs? Well I would say to them, then do not buy their p here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe oducts then if you do not like it. Vote with your dollar, go somewhere else. Buy online, buy from a co-op, buy from a smal d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro businessperson or grow it, build it and make it yourself? Free-markets also mean that you the customer are free to buy fr 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 om whomever you choose. You do not have to stand in line for potatoes. Sheesh? Is it true that sometimes companies falter 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 in the compromises they make to keep their shareholders happy and customers too? Sure it is, nothing good in life is easy. nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically As a founder of a Franchising Company, I can tell you that it is not the World’s easiest job. Yes, imagine if you r 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 n a public company, which was a franchise system. Now you have another layer of people to keep happy. You have to do what ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi is best for shareholder, franchisee, law, customer and your own on-going vitality as a Franchisor. That is 5-mouths to fee ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a d and everyone must eat at the table or the lawyers and regulators come running to destroy it all. 1.) Shareholders 2 dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ) Customers of Franchisees 3.) Franchisees 4.) Franchising Company 5.) Potential Investors of Franchise Out cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin lets If you cannot handle playing at that level then of course you end up going from a John Nash Utopia Concern to an &ld tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen uo;everyone loses except the lawyers” scenario. Of course the Government Regulators have never been in business, the 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 don't get it and the consumers know that they can get more by lying to regulators, just like the minority shareholder can ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust launch a class action lawsuit. It is becoming a lot like making a law you cannot spank your kid if they misbehave, soon y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products he kids know this and gain control. This is one big problem with taking the power away in the classrooms and now they are . 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 giant babysitting facilities, where the kids are running the asylum? We must be careful in America not to over regulate ou elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip corporations or we will cause them great harm and in the end we all lose. I hope this article will propel thought in 2007 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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