Subjects - Business

Developing Strategic Alliances

“Almost all of our relationships begin and most of them continue as forms of mutual exploitation, a mental or physical bar

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

ter, to be terminated when one or both parties run out of goods.” -W.H. Auden, 1962

Reasons and Benefits of Developing Strategic Alliances

The reasons

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

Examples of combination products may in

for strategic alliances become apparent when you understand the benefits. This applies to businesses and organizations of all sizes. Your reason for developing an

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

alliance could be for research, production, marketing, distribution, or management. Your increased capability for success through alliance relationships will encour

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

age your continued embracing of the practice. The same holds true, regardless of whether you enter strategic alliances as an individual or organization. Many of the

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

Combination pro

benefits create high value for different segments of the distribution chain rather than all the segments.

I’m not going to specifically tell you which benefits re

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

late to manufacturers, wholesale distributors, retailers and service organizations. The reason is that I do not want you to limit yourself. As I regularly share in

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

my seminars, innovation can be creating a new wheel or adapting another’s idea to your situation. What’s in it for you? Maybe everything listed below or maybe only

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

a few benefits. How much benefit you receive will be a function of your self-imposed limits, or hopefully a lack them.

In developing your strategic alliances, you

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 only limited to the quality of your alliance relationships and your imagination—be limitless! There are seven general areas in which you can profit from build

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

ng alliances. They are as follows:

1. Products

2. Access

3. Operations

4. Technology

5. Strategic Growth

6. Organization

7. Finance

Your core strengths may

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

Following aspects would a

lend you to develop alliances in only a few areas, and that is just fine. Or, you may desire to develop alliances in many areas over time. Work hard to develop

dd to the challenges in developing combination products:

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

Outrageously Successful Relationships (OSRs) in all your alliances. Following, you will discover what’s in it for you, if you develop the right alliance, with t

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

he right people.

Ultimately the benefit to developing strategic alliances with others is for solutions through mutually beneficial efforts. Together you can solve

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

your problems, those of your customers’ suppliers’ and employees’. Be sure you know what it is that you are want to get out of each of your alliance efforts! It'

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

s rare that a company can be all things to all people. Working in cooperation with others is the solution. Adopting the paradigm of strategic alliances will get

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

Professional from academic institutions, pharmaceutical industries, health care indust

you much closer to your goals than without these valuable relationships. Finally, and decisively important, when a company embraces the philosophy of strategic all

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

iances, the result will be improvement in quality, productivity and profitability. And yes, this is done through cooperation and collaboration.

“Togetherness,

.

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

for me, means teamwork. It makes us reflect how completely dependent we are upon one another in our social and commercial life. The more diversified our labors an

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

Companies that provide selfless information through particip

d interests have become in the modern world, the more surely need to integrate our efforts to justify our individual selves and our civilization.” -Walt Disne

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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