Main Subject - Business

My former boss would stick out his chest out exclaiming, “We must lead from strength!” It was not until I became a consultant that I graspe

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

d the meaning of this powerful phrase. Businesses must recognize their strengths and market them fervently. Agility might be necessary in t

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

Examples of combination products may in

is ever-changing marketplace, but businesses – especially small businesses – that attempt to be everything to everyone inevitably fail.

In

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

ernally, business owners who don too many hats are certain to become overwhelmed. They overlook important tasks and attempt to tackle dutie

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

outside of their areas of expertise. This is most apparent in marketing and administration. Easy access to word processing, desktop publis

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

Combination pro

ing and web design software lulls business owners into a false sense of ability. They assume their ability to use the software translates t

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

o the talent needed to create professional materials that produce results.

Rudimentary ability should never be a substitute for expertise.

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

Many professionals boast of their writing skills. Without a comprehensive knowledge of the theory and mechanics of writing, these professio

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

als produce pieces riddled with embarrassing errors. Press releases go to the media with improper formatting and full of advertorial copy.

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

ust as sure as you can say, “spam,” editors trash these press releases almost as quickly as they arrive.

All too often, eager business own

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

rs create postcards in a generic desktop publisher program. They throw in a barrage of cartoon clipart without giving pause to what colors

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

Following aspects would a

detract from sales. They mail them out to prospective clients and wait in vain for the calls to pour in. They never do – at least not at a

dd to the challenges in developing combination products:

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

ate to keep the business alive. Score one for big businesses who know better.

“I cannot afford a copywriter or graphic designer,” is what

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

mall business owners say. Most business experts agree that 20% of a budget should go into marketing. Still, marketing seems to be an aftert

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

ought to the average small business owner. They believe customers will overlook their lackluster or non-existent marketing materials and ig

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

ore the excellent pieces of their wiser competitors. They believe that their clients – usually other businesses – will understand their pli

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

Professional from academic institutions, pharmaceutical industries, health care indust

ght when piece mill direct mail inches across their desk.

They do not understand. I have seen many an executive mercilessly pick apart a c

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

mpetitor’s website, or direct mail piece. I have even chuckled over terribly written press releases. It is a shame. A business owner’s time

.

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

is much better spent running and growing their business instead of doing something outside of their skill set.

My recommendation to you gr

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

Companies that provide selfless information through particip

at business leaders out there is to find your strength and lead with it. When it comes to writing, just leave that to professionals like me

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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Skimming is the removal of cash for a victim company before the transaction is entered into the accounting system. Since skimming is an off the books type of fraud (it is never recorded) there is no direct audit trail therefore making the fraud difficult to detect. The employees with an opportunity to commit skimming schemes are those who deal directly with customers or those that handle their payments. This article will cover the four main categories of skimming schemes and discuss some of the red flags for detection of the fraud.

Reach and frequency are terms generally used when planning advertising campaigns. However, the concept of reach and frequency applies to any promotional activity you undertake: direct mail, direct selling, and even networking.

If we want more experimentation and learning on our teams or organizations, we must establish an atmosphere that builds self-confidence and trust.

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