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Main Subject - Toy Ideas
The toy industry suffered a major setback during the
recession. Thankfully, it survived but the products coming
out of the toy industr
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
y of late are quite boring. One
wonders where has all the innovation gone? If you have an
original idea to sell to the toy industry yo
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
u will need to
go about it the right way or else suffer rejection and
frustration.
Toy companies receive thousands of ideas from inve
Toy companies receive thousands of ideas from inve
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ntors
every year, and accept only a fraction of them. So how can
you increase your chances of success? If you are planning to
enter t
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
e toy industry you may benefit from these tips:
The first thing to remember while embarking into the toy industry is to do a great dea
The first thing to remember while embarking into the toy industry is to do a great dea
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
l of research but don't be
foolhardy to presume that you can reinvent the wheel. Also,
don't try to improve on existing popular toys.
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
Don't think
you'll re-do Slip-N-Slide, for instance, and make it even
better. A lot of inventors make this mistake, or submit a
so-ca
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
lled new idea that's already on the market. Do your
research, and leave product updates to a company's internal
Research and Developme
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t staff.
Your research should help you decide which companies to target. As a rule of the thumb you should target toy companies that
Your research should help you decide which companies to target. As a rule of the thumb you should target toy companies that
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
produce products most similar to your idea.
You may find more success with small and mid-sized toy
companies. It's a good idea to take
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the assistance of an
agent who can be helpful in opening doors.
Next, you have to develop a prototype to show proof of your concept.
Next, you have to develop a prototype to show proof of your concept.
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
The inventor has to bring more to the table than
just an idea. He has to convince the company that it works.
While making a presentat
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
on of the prototype, always aim for
simplicity. If you take twenty minutes to explain how
something works, there's very little chance
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
of success.
Understand the review process. In disclosing an idea, things often come down to who had the idea first. Often the company
Understand the review process. In disclosing an idea, things often come down to who had the idea first. Often the company
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
already has the idea before you submit it. Companies like
Wham-O document every interaction with an inventor. You can
steal an idea o
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
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
nce, but then no one's going to work with you
again. So they depend on their integrity and honesty. The
company creates a few co-inven
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
or relationships each year,
in which two ideas are combined to create one product and
the co-inventors share royalties. Professional i
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
nventors
document every interaction they have with toy companies.
Finally, you must figure out your production costs. Surprisingly, m
Finally, you must figure out your production costs. Surprisingly, m
.
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
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
any fledgling inventors do not. You should
aim at the lowest possible cost per unit. Cost control will
also help you achieve your over
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
all point: selling someone on
your idea. There are a lot of magic price points in the toy
industry and $20 is a big, magic price point
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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