Subjects - Business

It's been an incredibly hot summer and besides having to work the entire time your kids has no school and you had the stress

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

of having to help them with their summer. The local car dealership knows that you will need a new car and they start advertis

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

Examples of combination products may in

ng "buy a New Car and Get a Cruise for Two". You're thinking this cruise is worth about $3,000 and you need a new car. This w

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

ay you can kill two birds with one stone.

In reality the cruise only cost the dealership a few hundred dollars but the perce

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

ved value is much higher. rather than the dealership having to discount their cars a lot of money with the cruise they are in

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

Combination pro

reasing sales, increasing revenue, and minimizing their cost. The Dealership is using what is refereed to as travel incentive

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

s. And it's not just cruises. I've seen Disney vacations, trips to Hawaii, Club Med, Las Vegas, and there probably are a lot

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

ore.

I used to sell on EBay and I've tried selling at cost and making a profit an the shipping and handling and I've also tr

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

ed raising the price of the item and offering free shipping. With both methods the free shipping always finished first. There

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

are some people who only search for items that have free shipping. I one bought some CaseLogic CD Wallets on a closeout for

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

couple dollars. I knew they were selling in the stores for $29 and up. I gave these away free with certain items and my sale

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

Following aspects would a

for those items were always the best.

Rather than take something you would normally sell for let's say $1000 and discountin

dd to the challenges in developing combination products:

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

g it to let's say $500 why not get one of these travel incentives that cost you less than $100 and bundle it with your item.

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

oing the math this gives you an extra $400 plus it gives the customer an item that has a much higher perceived value. Basical

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

y we are creating a win/win situation. With pricing it's hard to go up in price. If you normally sell a cup of coffee for a d

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

ollar and you decide you want to increase the price to $3 unless you have made some improvements with the coffee the chances

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

Professional from academic institutions, pharmaceutical industries, health care indust

f you getting the extra $2 are pretty slim.

I use to sell cars many years ago and the customer is always asking for a lower

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

rice. Finally by offering a warranty for free which had a perceived value of $1000 and a cost of less than a hundred I made t

.

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

he sale. I was creating a win/win situation by giving the customer more and not having to give a thousand dollar discount for

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

Companies that provide selfless information through particip

my dealership. It all boils down to perceived value. Just because you pay $200 for a cruise doesn't mean it's only worth $200

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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