Main Subject - Business

You are excited, it's a new business day! You glance at your business plan on the pin board in front of you. A shiver of excitement races up your spine as you think of your business potential. Just 8 h

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

ours a day on this plan will mean a better life for you and your family, all within 2 years. Then the phone rings…

It's a customer! They are enquiring about that widget they bought from you yesterday.

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

Examples of combination products may in

Will it do x and y?

So you explain that it will do x and y. And because you are focused on providing the ultimate customer service, you talk them through the steps on the phone. After all you need to

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

go the extra mile, don't you?

You hang up and think "Another satisfied customer, but I wished they had read the owners manual before calling me!" You glance at your watch, then look at your diary 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

ealize you are an hour behind schedule. Then there is a knock on the door…

Sound like your typical day? Full of unscheduled interruptions, and at the end of the day wondering where all the time has go

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

Combination pro

ne? You only managed to complete 10% of the stuff on your to-do list today?

So do you take yesterday's unfinished business and add it to today's business? Or just cross it off in your diary and try an

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

catch up next week?

It's easy to get overwhelmed when this happens! The important stuff never gets done because you are constantly trying to deal with all the little stuff. We all know it's important

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

to provide the best customer service, but taking on these interruptions in the belief that it will result in more referrals in the future, is a recipe for disaster.

Business is a numbers game. If your

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

bottom line is not healthy, there will be a greater temptation to go and do something that has a healthier bottom line. You will lose the drive, the passion, it will become too hard.

If your daily act

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

ivities are not constantly growing your new enquiries, improving your sales conversion rate, growing your transaction size and increasing the customer buying frequency, you will have an unhealthy botto

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

line, lose interest and give up!

As harsh as it sounds, it's reality!

And it all comes down to the enforcement of your sensible time management. We all know there will always be interruptions and yo

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

Following aspects would a

r time management should allow for those, within reason.

So how do you avoid the biggest killer of your business profits?

1) Plan your week before it starts. Block out your focused hours for marketin

dd to the challenges in developing combination products:

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

, research, administration, business planning, etc. But also allow limited time, to deal with interruptions and urgent matters, although these should be kept to an absolute minimum. Your business must

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

run like a well oiled machine with no unexpected breakdowns.

2) Tell everyone around you, (yes, even your customers) when you are available and when you are not available. Remember, scarcity is a powe

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

ful marketing tool. Make yourself scarce.

3) Keep a record of all the interruptions and make it your goal to completely eliminate them by improving owner manuals, having an online manual with a freque

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

tly asked question area, changing systems or forms. You will notice a common thread with your interruptions and eventually you will be able to reduce them to a bare minimum.

4) Always plan any meeting

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

Professional from academic institutions, pharmaceutical industries, health care indust

for the end of the day. Meetings have a horrible habit of taking longer than they should. By scheduling them for the end of the day they will become focused and to the point, as everyone is keen to go

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

home.

5) Remove the "I'm always available" sign. In this world of mobile phones and technology, customers believe that business owners should always be available to take their call or answer their em

.

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

il. If you decide to take every call or answer every email the moment it arrives, your business will suffer. Use voicemail and answer emails in a focused hour once per day.

Remember scarcity? You are

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

Companies that provide selfless information through particip

ot available immediately because you are busy. You are busy because you provide a quality product or service and are building a better business, which will benefit the customers and you. Scarcity works

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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