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When is advice free and when should you charge for it?

A question is often asked

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

as to when to charge for information. This is not an easy question to answer as

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

Examples of combination products may in

it really depends on the situation. If you are doing a speech for non-profit, the

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

n your advice can be pro bono (at no cost). I would have no difficulty sharing my

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

expertise with such an organization but I do draw the line when a profit organiz

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

Combination pro

ation asks for the same privileges. Non-profits are exactly what their name say,

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

and even though they do have money to spend in some areas, some free advice is go

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

d. The advice, however, should be given through formal channels. You should ask t

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

o work with their board of directors to see what help they actually need and then

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

offer your services.

Remember that each person in a non-profit also has a job i

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

n the community and may want to use your services or book you for an event as a s

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

Following aspects would a

peaker. The rule of thumb is to make sure you do not give the farm away when givi

dd to the challenges in developing combination products:

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

ng free advice. If you do, there is nothing more you can give to the business peo

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

ple in that organization. You should temper what you give so that the organizatio

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

can move forward but watch out for those organizations that tend to ask more tha

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

n you can give. It is the additional information that you can charge for.

There

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

Professional from academic institutions, pharmaceutical industries, health care indust

will always be a fine line between giving free information and being exploited. I

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

f you are exploited, you will know it and the experience will give you a bad tas

.

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

te for non-profit organizations. Not all organizations are run that way, give fre

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

Companies that provide selfless information through particip

ely of your advice and make sure they use the information for what it is intended

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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Years ago I made it my desire to be successful in life and be able to give back to the world. Although the idea of success is different to every person whether it be money, fame, or something as simple as to have a good family life. I have learned that the rules and advice to reach your idea of success are the same everywhere. This article contains a list of the most common advice that I have collected from those who have made it.

You may be feeling dubious about whether or not to go ahead and buy a carpet cleaning franchise. Concerns about profit margins and covering equipment costs could be holding you back. Bobby Walker has a proven strategy he is prepared to share with a limited number of applicants that will guarantee you to take advantage of today’s market opportunities.

Be aware of the fools sense of confidence which plagues most salesmen, and that is the confidence which is based totally on bravado.

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