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Subjects - Innovation Management - Selecting Good Ideas
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea
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
selection, development and commercialisation. There are distinct processes that enhance problem identification
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialis
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
tion. Whilst there is no sure fire route to commercial success, these processes improve the probability that goo
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 ideas will be generated and selected and that investment in developing and commercialising those ideas will no
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
be wasted.
A number of idea selection methods can be used. For a comprehensive evaluation, it is advisable to
A number of idea selection methods can be used. For a comprehensive evaluation, it is advisable to
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
use all methods. Considering the costs of Research and Development and the added cost of re-engineering products
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
when flaws are discovered, it pays to conduct in-depth valuation before large investments in that idea are give
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
a GO status.
Some of the idea selection methods include:
a) Comparing the type of idea with those types of id
Some of the idea selection methods include:
a) Comparing the type of idea with those types of id
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
eas that have previously been most successful.
b) Judging whether the idea fits well with the firm.
c) Analysi
b) Judging whether the idea fits well with the firm.
c) Analysi
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
g the likely practical impediments that may prevent successful commercialisation.
d) Knowing how and when the G
d) Knowing how and when the G
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
O or KILL decisions will be made when an idea is in the idea funnel.
e) Knowing how the consumer will benefit.
e) Knowing how the consumer will benefit.
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
Additionally, there are benefits to failure. Whilst an idea may be judged as being commercially unsuccessful, t
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
e firm, team or individual may learn valuable competencies that will increase the chances of the next product be
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ing successful. Ridley Scott had limited commercial success with Blade Runner, but went on to make some of the m
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
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
st lucrative movies ever.
These topics are covered in depth in the MBA dissertation on Managing Creativity & In
These topics are covered in depth in the MBA dissertation on Managing Creativity & In
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
novation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
and Power Point Presentation) from http://www.managing-creativity.com.
You can also receive a regular, free ne
You can also receive a regular, free ne
.
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
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
sletter by entering your email address at this site.
Kal Bishop, MBA
**********************************
You a
Kal Bishop, MBA
**********************************
You a
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
re free to reproduce this article as long as no changes are made and the author's name and site URL are retained
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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