Useful Articles - Business

One day last week, I decided to work from the house since I had to head over to Rotary at noon. A little

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

bit ago, a lady from the place where my wife gets her hair cut called to see if she was here. I told he

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

Examples of combination products may in

she had left to go get her hair cut, then laughed and commented that my wife had indeed remembered the

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

appointment this time.

You see, the last few times she had a hair appointment there, something happened

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

and she forgot to show up at the right time. Rather than continue to tolerate that behavior, the hair pl

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

Combination pro

ace invested 2 minutes of their time to call an hour before the appointment to remind her.

Should they

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

ave to do that? Not really.

Is it smart business? Absolutely.

Why? Its your job as the business owners

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 groom your customers, train them and adjust their behavior as necessary.

How? Make them an offer th

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

t makes them want to be on time, or set things up so that missing that appointment is something they sim

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

ply cant tolerate, or wouldnt dream of.

Any business that is paid for work done in appointment slots (l

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

ke a hair salon or spa) has to do whatever they can to decrease the number of no-shows, or late arrivals

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

Following aspects would a

because they cant get that time back. Sure, they can rebook that person, but the original slot still sat

dd to the challenges in developing combination products:

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

there unoccupied and that time was not purchased. Photography studios (a niche I used to work in) strug

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

led with this for years until it was suggested that they could get their customers to pre-pay for the si

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

tting fee in order to hold an appointment. The sitting fee is not refundable if you miss your appointmen

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

, but it sometimes is credited against portrait print purchases.

Once people started paying for sitting

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

Professional from academic institutions, pharmaceutical industries, health care indust

fees (some call them reservation fees), they suddenly started showing up on time because they didnt wan

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

to lose the money they paid in advance. Now all of a sudden you have a more predictable income, because

.

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

you know how much on average each family will spend on prints and other products once they've had their

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

Companies that provide selfless information through particip

portrait taken - and you've gotten your customers to behave a lot better - because they actually show up

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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