Main Subject - Business

Are you opening a dollar store? If so never lose sight of the importance of cost reduction. I

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

n fact cost reduction efforts should take place from the day you start your planning. One of

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

Examples of combination products may in

he major areas of cost reduction focus is the lease agreement for the store.

The lease negot

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

ations and thus your opportunity to save money happen prior to opening a dollar store. While

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

he actual lease dollar amount is important to consider, there are other factors as well. They

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

Combination pro

include any triple net (NNN) clauses and exactly what the added charges are for the NNN.

Thr

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

e tips to consider when opening a dollar store:

Tip #1: Seek the advice of an accountant and

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

attorney who specialize in discount retailing before signing any lease documents. These prof

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

ssionals can save you money.

Tip #2: Examine lease costs as a percentage of sales. Also calc

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

late sales per square foot of space. As you add or delete space you can better measure and un

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

erstand the impacts.

Tip #3: Examine lease costs for similar spaces and lease terms in the i

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

Following aspects would a

mediate area. This allows you to be aware of the current going rates for you area.

Don’t be

dd to the challenges in developing combination products:

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

fraid to ask for concessions during lease negotiations. It might be a lower lease payment. It

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

might also be a reduced lease payment as you prepare the store to open and even during the in

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

itial months of business. It might even be specific improvements to the space before opening

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

dollar store. If you don’t ask for concessions that make sense for your situation you certai

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

Professional from academic institutions, pharmaceutical industries, health care indust

ly will get none at all. Right-sizing lease payments will be important to your long-term succ

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

ss.

Lease payments will be one of your biggest ongoing expenses when opening a dollar store.

.

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

Remember to right-size the lease for your circumstances. Remember that cost reduction should

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

Companies that provide selfless information through particip

e a goal before any lease or lease change documents are signed.

To Your Dollar Store Success

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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