Subjects - Business

Many years ago I went into one business as CEO. The Business was los

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

ing ?1m annually. Casually wandering around (listening and communica

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

Examples of combination products may in

ing) I asked a member of the sales team, "how do we find our custome

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

rs?" Reply "we don't, everyone knows (name of company)". That busine

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

s was dying. After much deep root and branch change, which is anothe

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

Combination pro

story, it did not die but I am sure you get my point.

Whether you

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

are CEO of a multinational or a one person business, without a marke

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

ing strategy, your products and services will not reach any one.

Ce

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

tral to that strategy is communication - using it to attract custome

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

rs and converting their interest in to sales. There are many tools f

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

r us to use ranging from direct mail and PR activities to web sites

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

Following aspects would a

nd even text messaging. The aim at all times must be to keep those c

dd to the challenges in developing combination products:

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

ustomers happy and coming back for more.

How we market our business

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

is evident in the way we produce our letters, e-mails and brochures.

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

We must consistently convey the right image. Of course we must list

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

en to what our customers and prospects say and respond accordingly.

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

Professional from academic institutions, pharmaceutical industries, health care indust

arketing should be on going, no matter how well we are doing.

Succe

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

sful marketing need not be costly but it does mean that we must unde

.

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

rstand our market(s) and have an effective means to attract customer

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

Companies that provide selfless information through particip

to our products, services and business. Be vigilant and take action

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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