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Once time was money. Now it is more valuable than money. A McKinsey study reports that, on average, companies lose 33% of after-tax profit when they ship products

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

six months late, as compared with losses of 3.5% when they overspend 50% on product development. More and more, advanced manufacturers are learning that the time

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

Examples of combination products may in

equired to develop a new product has more influence on its success than its costs.

Little wonder, then, that senior managers are working hard to reduce their new p

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

oduct development cycles. At Hewlett-Packard, well over 50% of sales come from products introduced during the past three years, and more than 500 product developme

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

t projects are going on at any given time. Even enterprises that develop just a few new products over several years, like Boeing Commercial Airplane Group, are foc

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

Combination pro

sing on reducing the time required to develop them.

It is a common belief in management practice today that one of the most effective ways to shorten development c

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

cles is through the collaborative work of cross-functional development teams. But if anything is easier said than done, it is that marketing people, development en

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

ineers, and manufacturing engineers should collaborate rather than "throw product specifications over the wall" to one another.

Collaboration among people from dif

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

erent functions is difficult, uncertain, and suffers from too little mutual understanding. New product development teams are typically composed of people who do no

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

have the experience or qualifications to criticize each other's judgments or performance – certainly not while the project is evolving. They do not, and cannot, k

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

ow all that their colleagues from other functions know. And uncertainty comes in many forms. What features do customers want? How do features translate into sale

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

Following aspects would a

s? Is the technology available to develop the features? Will the product be manufacturable at the desired price? Much of the challenge of new product development

dd to the challenges in developing combination products:

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

is centered on people from different functions finding answers to, and getting agreement on, just such questions.

Obviously, the more team members understand the w

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

rk of other funtions and the interrelationships among all functions, the more likely they are to make intelligent decisions that will enhance the success of the pro

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

uct. But what constitutes understanding? Bill Hewlett, a founder of Hewlett-Packard, used to say, "You cannot manage what you cannot measure," and his corollary w

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 "What gets measured gets done." By inference, the real challenge for teams is to develop measures that will help individuals assess how well they are doing what

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

Professional from academic institutions, pharmaceutical industries, health care indust

hey agree must be done. Advanced manufacturers must create new products that will make the most profit in the least time, but what metric can managers of interfunc

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

ional teams use to direct their employees' efforts toward this outcome?

Ideally, such a metric would encourage the ongoing monitoring of a new product development

.

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

roject. It would allow people from different disciplines to assess the impact of their decisions and their colleagues' decisions on the entire project.

"The Retur

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

Companies that provide selfless information through particip

Map: Tracking Product Teams", Charles H. House and Raymond L. Price, Harvard Business Review, January-February 1991. Visit CJPS-Enterprises for more information

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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The Motor Carrier Act of 1980 set new standards in trucking industry. Before the legislation, licenses had only 18,000 truckers and by 1990, this number increased to 45,500. First only a half of carriers had a right to move freight freely within 48 states and in 1990 – 20,000.

Are you looking for a franchise opportunity which revolves round children? Why not consider a tutoring franchise. Your business and work consists of educating children out with school hours in the basics of English, spelling, reading & mathematics.

With all the Public Relations Campaigns going on all the time with large companies and corporations it is always difficult to out do the last promotion to strengthen the brand name. Although when using public relations to build good will in a local market and community it is almost mandatory that companies do this.

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