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I often get asked by people “what’s the most important ting when it comes to making more money in my business?”

It's one of those que

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

stions that make me cringe. It makes me feel that way because it presupposes there is only one thing you need to do and everything wi

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

Examples of combination products may in

l improve. This is what most people refer to as the magic pill or the silver bullet to make your business grow.

The truth is there a

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

e a number of 'one' things you can do, yet the secret is you must combine these strategies with a bit of focus, discipline and consist

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

ncy and bang... 'the magic pill' effect is created.

However for most what is required can be a little daunting and thus abandon the '

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

Combination pro

roven strategies' to look for the magic pill again.

Business can be hard work and it is the discipline that is even harder. The disc

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

ipline to do the things needed consistently to make a business prosper can be a challenge.

So what is the answer to business growth?

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

Let me summarise with a few of the more important basics disciplines;

Know your product or

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

service and the benefits it has to offer. If you assume people will buy things based on your reason's for wanting them you may be sor

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

ly disappointed to find out that what you want from your product or service isn't what your customers want. Take the time to find out

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

what people want and show them how they can get it.

Use leverage in your marketing. Know

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

Following aspects would a

who your target market is and find other businesses that have the same market who don't compete and approach them to set up a Joint V

dd to the challenges in developing combination products:

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

nture or a strategic alliance to make offers to their clients in a win-win scenario.

Comm

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

nicate to your past, present and future customers regularly with value added information and irresistible offers. I have seen busines

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

es explode simply because they started sending offers to their past clients and their friends.

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

Use a sales process. Use a sales process that is defined with flexible steps and an end in mind which is "a sale". Buy a book o

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

Professional from academic institutions, pharmaceutical industries, health care indust

n sales, hire a consultant to help whatever you do just do it.

Train your staff. Train t

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

em in sales, communication, product knowledge and team work then train them at least once a month. Some of the most successful compan

.

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

es I have observed run trainings for their staff weekly or monthly.

There are at least another

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

Companies that provide selfless information through particip

ozen things I can suggest you do however if you start with these you will be well on your way to discovering the rest.

To your succes

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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