Main Subject - Business

The music industry is very well aware of what the Grammy Award does, as well as the musicians who may be nominated. Those that work in tel

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

evision know the value of an Emmy Award. Hollywood and their movies are filled with awards, from the People’s Choice to the Oscar’s and ev

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

Examples of combination products may in

erything in between. Even though each of these awards renders something different within each separate genre, they all hold a common groun

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

d. They all translate into honor and prestige for the recipient, making one stand out amongst the masses of their peers.

College football

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

has the Heisman Trophy, professional football has the Vince Lombardi Trophy, and professional hockey has the Stanley Cup. Again, each is a

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

Combination pro

n honor to set one individual or team at the highest level of their game, for triumphant are those that hold the symbol of greatness.

The

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

corporate world has the some type of award system, but on a much smaller scale. Instead of having awards created for recipients at Tiffany

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

& Co., many corporations and businesses have trophies, plaques and fancy certificates to show their appreciation while giving employees a r

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

eason to strive a bit harder, and therefore increasing productivity for the company. Employees love the idea of getting corporate awards to

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

become a status symbol among their peers.

From another point, corporations are beginning to see the strategic value of corporate awards.

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

While cash awards and bonuses are nice for a while, they are usually forgotten somewhat quickly after dispersed. A physical award, trophy

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

Following aspects would a

or certificate that is placed on the recipient’s desk or wall will serve as a reminder to the individual and his or her colleagues of what

dd to the challenges in developing combination products:

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

was achieved.

Many corporations are feeling the squeeze of the general public’s demand for ethics in their personal workplace and from tho

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

se that produce their goods and services. By creating awards in such categories, corporate initiatives towards one or more aspects will fo

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

low. If you have some sort of “ethics award”, employees will strive to attain the award to place on their desk or wall.

This day and age

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

all are after the same market and talented employees. If a company can boast that it is on the “Top 50 Companies for College Graduates”, th

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

Professional from academic institutions, pharmaceutical industries, health care indust

ey will have a better chance of getting some fresh blood into their company. The “Pay it forward” strategy, with the corporate winners sho

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

ing appreciation to those who made this honor possible can again bring a sense of pride and accomplishment to those who receive it.

Finall

.

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

y, awards should be given out at a company meeting or something that includes all employees. You can be sure that the recipient will honor

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

Companies that provide selfless information through particip

and treasure it for years to come, as it serves as a constant reminder of hard work and achievements that did not go unnoticed by superiors

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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