Main Subject - Business

Over the years, I've spent a lot of time traveling to Las Vegas for business, particularly in my corporate past.

Large trade shows, and conferences that meant day

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

long 'schmooze' fests with sales people, product managers and other executives all trying to out network one another.

At the end of a two or three day trek, and wi

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

Examples of combination products may in

h Cheryl Crow's lyrics from Leaving Las Vegas singing in my head, I was ready to "leave for good!" During one of my trips, I recall being asked to sit in on

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

a game of blackjack. I'm no fan of gambling but I agreed to join the group as an observer.

I later asked one of the players if they had any special 'tips' they wou

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 be willing to share. It wasn't until much later that I realized my question was inappropriate but one can be perceived as bold when in fact, they just don't know

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

Combination pro

etter!

Here are the three tips I was given and ironically, they apply directly to branding:

1. Remain consistent:

All great brands are consistent in how t

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

ey present themselves and in what they communicate to their audience. In Blackjack, changing up your system raises a red flag and draws unwanted attention to you.

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

n branding, being inconsistent causes your audience to not only be confused about your position, but it also makes it difficult for you to build trust.

Authenti

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

ity is the key to creating brand trust and loyalty.

When you design your brand position focusing on your special skills, talents and accomplishments, you commu

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

icate a consistent message. It is only when you are reaching for 'slick sales' moves that you loose your authenticity and consistency.

2. Keep an eye on the oth

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

r players, never play at a table where someone clearly plays recklessly:

The importance of carefully choosing your brand partners is vital. Associating with an

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

Following aspects would a

other business that does not share your brand values can damage your brand reputation. Looking at the bottom line monetary gains alone when partnering with another

dd to the challenges in developing combination products:

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

usiness isn't enough. You must also consider the intangible losses (or gains) that a brand alignment can cost you.

Honoring what your brand represents will guide y

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

u in determining who to best align yourself with. If they don't share your authentic brand values, you may not have a brand match. Seasoned blackjack players unders

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

and that playing at a table with a reckless player can cost them their next win. The same 'tip' applies to you.

3. When you're winning you need to put the big b

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

t out there, when you're losing you have to be patient:

In the brand design process, clients often want to see results overnight. What does it take to get inst

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

Professional from academic institutions, pharmaceutical industries, health care indust

nt brand results? Commitment and patience. In business, we often want big results and big gains but aren't willing to commit to the process to get there.

In truth,

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

there is no such thing as an 'overnight success.' All great talent in music, sports, blackjack and business get to be called 'great' because they work at it. Being

.

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

reat requires patience and a commitment to excellence.

Once you begin to reap the rewards of your commitment and patience, put your apprehension aside and really p

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

Companies that provide selfless information through particip

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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