Main Subject - Business

When you are bidding for Government work there's a very good chance that you will be in the race with many of your compet

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

itors, so it is a good idea to find out more about who else is likely to be bidding for the same contract.

Most bidders

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

Examples of combination products may in

have a feeling about who else is bidding but they don’t spend much time doing their homework to really find out. This lac

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

k of investigation can work against them.

Spending time investigating the major players in the race, their strengths and

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

weaknesses in relation to the selection criteria will give you an added advantage.

Determine how you compare with your

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

Combination pro

ajor competitors (favourably and not so favourably) and write it down.

If you find that your company stands out head and

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

shoulders above your competitors, you can include a version of your competitor analysis in the form of a Comparison Char

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

t in your documentation. Make sure you compare apples with apples, fact vs. fact in a chart format, pointing out your st

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

rengths and the weaknesses of your competitor.

BE CAREFUL: If you are going to undertake this activity, before proceedi

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

ng, always seek legal advice or you could get yourself into lots of hot water. You must include ONLY undisputable facts.

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

Here's an example ...

Do you remember the advertisements featuring Herron Pharmaceutical Company, where it compares the

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

Following aspects would a

ir brand of Paracetamol with Panadol? There are similarities in both their products, such as the mini-caps they both hav

dd to the challenges in developing combination products:

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

e. However, the point of difference that they stress in the advertisement is that Herron Pharmaceuticals is 100% Australi

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

an-owned, which means that your money is staying in Australia. Their ads use a very powerful direct comparison with Pana

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

dol, which is a known fact – the company is Australian-owned. Because it is a fact, they can legally do it.

Can you ima

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

ine what sort of impact your tender documentation would have if you showed a favourable and FACTUAL comparison between yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

ur company and one of your major competitors? Of course, the information that you present would have to be backed up by

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

proof.

When performing an analysis of your competitors, you need to look at the major players and evaluate them on a num

.

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

ber of criteria. These could include: features of their product or service, guarantees, ranges of services, size or staf

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

Companies that provide selfless information through particip

f and longevity.

For more tips and information about getting to know your enemy go to
http://www.wordsthatsell.com.a

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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Even though these adverts are routine and limited in style, you can still use striking words or phrases.

The success stories of most of the multimillion dollar companies start out from something small. From being a labor of love of one or two individuals who are working on a project at the garage of their home, a company can grow to such extent that they become a worldwide phenomenon.

Advertising and marketing services are absolute essentials for any product to compete in the market; they provide a stepping-stone towards catering to a larger audience and also help in creating a brand identity among existing customers. Marketing is the tool through which a company makes an entry into the market, and advertising introduces the product and services to the end user.

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