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When I was 11 years old, my favorite game at school was similar to piggybacking. I don’t remember what we called the game. Small guys like me w

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

ould ride on the backs of big, strong guys and we would try to pull our opponents over. The best part of Joint Ventures, as well as the easiest

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

Examples of combination products may in

and most lucrative, is “Piggybacking”. They key to winning was strong arms and a strong “Horse”. I had strong arms and I always chose a strong

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

horse, so I usually won. In business, the book, “Horse Sense” by Al Ries and Jack Trout applies the same concept. This book was personally reco

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

mended to me by a multimillionaire client of mine, many years ago. I read the book three times.

I recently talked with a man who has 1,200 peo

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

Combination pro

ple in his database. I suggested he offer them Membership in my DollarMakers Joint Venture Forum at a great discount. By sending out two e mail

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 one voice broadcast and adding value, for which I would pay, and by mentioning the opportunity in his ezine, we estimated that he would ha

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

ve at least 120 join (10%). That would earn him significant money, at no cost or risk to him. That’s piggybacking – and it’s that simple. The s

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

me can be done with shared advertising, mailings, e mails, ezines, direct mail, seminars and business opportunities. Riding on the back of exis

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

ting distribution, reputation, reach, access and exposure is very effective.

Don’t buy a 747 to fly to LA – simply rent a seat. Don’t own the

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

verhead or create a competency; borrow it. Consider the power of partnering: everyone wins by sharing underutilized resources and Hidden Assets

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

Following aspects would a

. And here’s the Good News – you don’t need to own the resource, be it a database, distribution route or relationship – you simply make the con

dd to the challenges in developing combination products:

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

ection – it’s called “Triangulation”. No risk or cost, no downside, lots of fun and lots of money. You don’t need a business to set this up. Li

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

nk me up with someone else and take a piece of the action. Link Bob up with Sally and get paid on all ensuing business over the next two years,

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

why not?

The key to successful piggybacking is a strong horse and a strong rider – both parties should be ethical, generous, smart, profession

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

al and proactive. That’s the hard part. I know people whose databases I wouldn’t touch with a 20 foot pole. Be selective; be VERY selective. Ta

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

Professional from academic institutions, pharmaceutical industries, health care indust

k with Members of the DollarMakers Join

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

t Venture Forum and if you want to make a lot of money easily, remember that all it takes is a bit of thought. It’s not hard work and there

.

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

s no risk if you’re dealing with the right people. Bundle a product or service with one that is already selling well or add a product or servic

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

Companies that provide selfless information through particip

e to an existing database or distribution route – that’s piggybacking, and it can create increasing, multiple streams of passive income for you

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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You may be thinking that your business is just too small for big Project Management techniques, but that is simply not the case. Don't let all of the fancy terms like Network diagram, Gantt chart, and Work Breakdown Structure scare you.

There are some sites which provide the list of business and shops, with their addresses from where you can buy your items by clicking just single click on your mouse.

Almost everyday, a new gadget or invention hits the market providing convenience, enjoyment or luxury to the user. People using their imaginations and ingenuity can create new gizmos and gadgets that are useful and fun. Take, for instance, the iRobot Corporation who patented the iRobot that washes your floor and the Roomba that vacuums your rugs without you guiding it.

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