Business Articles

I really can't stand leaving my office disorganized and that's how I felt when I left my office and went h

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

ome yesterday.

I was up late last night doing some work from home, but that nagging feeling was there bec

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

Examples of combination products may in

use

I like to walk into a clean, organized office each day. (I just feel better). Because of that I decid

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

d to get to work a little earlier today. It was quiet and after I straightened up, I looked over a few boo

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 I had laying around. In doing so, I re-read my favorite success quote of all time.

To me this quote als

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

Combination pro

reveals the most important word in the 'success dictionary'.Before I share it with you, I want you to kno

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

why it's soimportant for you to really understand this quote.

To me, the beauty of this one sentence rev

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

eals the true secret of long term success. Let me explain.

Too many people are looking for the 'latest tr

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

ck', the latest 'get rich quick' scheme; they're looking 'outside of themselves' for the answer.

Unfortun

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

tely, I don't think they're going to find it. Let me share with you a powerful insight.***The whole world

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

evolves around VALUE. Let me say that again.

***The whole world revolves around VALUE. Here's more. The b

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

Following aspects would a

siness of making money is all about having aVALUE for VALUE exchange.

You trade your value (money) for so

dd to the challenges in developing combination products:

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

eone else's value(their product or service). The greater the VALUE, the more you'll 'trade' with them. It

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

s really that simple.So here's my point and here's the quote. The point is you need to become a PERSON OF

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

VALUE.

Here's the quote: Albert Einstein said, "Don't look to become a person ofsuccess, look instead to

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

ecome a PERSON OF VALUE.***VALUE is the most important word in the success dictionary.

The faster you 'ge

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

Professional from academic institutions, pharmaceutical industries, health care indust

it' and the faster you become VALUABLEto those around you, the faster you'll live your dreams andbecome f

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

nancially free.

I can't stress this enough, BECOME VALUABLE. Add VALUEto people's lives.

Watch what happ

.

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

ns.

Some would say the effects are magical.

I'll let you decide.

Talk to you soon.

Mike Litman

www.un

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

Companies that provide selfless information through particip

eashyourgreatness.com/ns.html
www.mikelitman.com

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

A factor is basically a financial institution that purchases accounts receivable from businesses. The factor normally bears the credit risks associated with the accounts receivable purchased by it. There are about twenty firms in the United States engaged solely in factoring. These firms raise their operating funds by issue of equity and debt capital.

Tags

Links

Business Articles - Success Secrets - The Most Important Word In The Success Dictionary

Related Articles: