Main Subject - Business

Implementing a strategic plan is a costly, but a necessary investment to out think and outlast your competition. Exec

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

uting the strategic plan is one of the most repetitive challenges that I hear as a business coach. Beyond the logisti

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

Examples of combination products may in

cs of how to implement a strategic plan, are these 7 qualities that help to ensure ongoing execution.

Enthu

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

siasm

Do you truly buy into the strategic plan? When you can embrace the plan and show your individual enthusias

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

m especially during difficult and dark days, you not only help yourself, but your other team members.

Responsibil

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

Combination pro

ity

From enthusiasm comes responsibility that results in personal accountability. You accept responsibility fo

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

r your role within the plan.

Commitment

Being on task, day in and day out to the execution of the strategic

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

plan is what commitment is all about. It is one thing to know that you should do something, but it is another thing t

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

o do it consistently and with focus.

Tenacity

Within this quality is the word ten. You and your people mus

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

t be able to persist to the power of 10 e

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

specially when the plan is not working.

Leadership

To be able to get results from yourself and others is th

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

Following aspects would a

e essence of leadership. In today's business world, this term is a collection plate holding a variety of interpersona

dd to the challenges in developing combination products:

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

l skills such as communication, decision making, goal achievement and time management.

Confidence

Believing

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

in yourself or confidence is necessary quality. If you live a life full of "weasel words" or "negative self t

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

lk," the likelihood of successfully executing your part of the strategic plan will be greatly diminished.

Reflect

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

ion

Taking the time to proactively think about what is going right, what could be improved and what is not worki

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

Professional from academic institutions, pharmaceutical industries, health care indust

ng resides in the quality of reflection. Unfortunately, this is one quality that many people fail to embrace for a va

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

riety of reasons from not knowing how and being conditioned to be reactive instead of proactive.

To ensure ong

.

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

oing strategic plan implementation involves these 7 qualities and probably many more. Take the time to assess these i

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

Companies that provide selfless information through particip

ntangible qualities with the same equal value as the time you take to evaluate your overall strategic planning process

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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Everyone who has important information or a valuable skill should start giving workshops. There aren't enough workshops in the world to accommodate everyone. Just learn what mistakes to avoid so that your workshop is a success.

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