Main Subject - Business

Bargaining power of suppliers. The concentration of suppliers and the availability of subs

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

titute suppliers are significant factors in determining supplier power. The sole supplier

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

Examples of combination products may in

f engines to a manufacturer of small airplanes will have great power for example. The dete

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

rminants of supply power are: the differentiation of inputs; Switching cost of suppliers a

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

d firms in the industry; Presence of substitute inputs; Supplier concentration; importance

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

Combination pro

of volume to supplier; cost relative total purchase in the industry and impact of inputs i

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

n cost or in differentiation.

Threat from substitutes. Substitutes products are indirect

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

ompetitors that can undermine demand prices. There are different types of substitutes such

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

as alternative products, new products, elimination of needs, generic substitution and abs

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

inence.

Rivalry among competitors. Rivalry among competitors is influenced by the precedi

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

g four forces, as well as by cost and product differentiation. Intense competition is most

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

Following aspects would a

likely characterized by: Excess production capacity; Standardized products or services; M

dd to the challenges in developing combination products:

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

ny competitors and Low growth. The framework of the five forces help firms to scan their

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

microenvironment because it allows a firm to see through the complexity and pinpoint those

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

factors that are critical to competition in its industry, as well as to identify those str

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

tegic innovations that would most improve its industry’s – and its own- profitability. The

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

Professional from academic institutions, pharmaceutical industries, health care indust

five forces framework does not eliminate the need of for creativity in finding new ways o

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

competing in an industry. Instead, it directs managers’ creative energies toward those as

.

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

pects of industry structure that it’s most important to long-run profitability. The framew

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

Companies that provide selfless information through particip

rk aims, in the process, to raise the odds of discovering a desirable strategic innovation

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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