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Strategic planning and business is paramount to winning market share and growi

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

ng the company. Unfortunately, strategic planning has become a buzzword by MB

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

Examples of combination products may in

A business consultants and the university professors. In fact, often an MBA c

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

urse will have several course titles with the words; Strategic Planning. So yo

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

u can imagine how important it is to the top business colleges and universitie

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

Combination pro

s in our nation and to the corporations who will hire these Business Managemen

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

Graduates.

In your organization you should talk about strategic planning and

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

even consider all the aspects necessary for a small-business startup company,

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

which plans to grow large; from Seed to Weed if you will. You see, an idea w

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

thout action is worth little and Failure to plan, planning to fail. In my care

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

er I've built a small company into a multi-state Franchising Company. We start

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

Following aspects would a

ed out recently with 53 units in 39 cities and eventually using the franchise

dd to the challenges in developing combination products:

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

usiness model we ended up servicing 450 cities, 110 markets by selling franchi

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

ses in 23 states in four countries.

Was all that part of the original busines

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

s plan? Actually it was. Although many business writers, business associates,

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

vendors and even franchisees called us lucky. It wasn't so much luck as it was

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

Professional from academic institutions, pharmaceutical industries, health care indust

proper planning to take advantage of opportunities in the marketplace as they

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

came along. This is why you much understand and discuss; Business Phases, Bus

.

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

ness Plans, Marketing Plans, Exit Strategies, Succession Plans and overall str

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

Companies that provide selfless information through particip

ategic planning. Perhaps this article is of interest to propel thought in 2007

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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Article describing techniques to build continuity with your customers. Outlines ways to make your customers continue to use your product or service.

For some, planning a business exit can be a predictable, methodical process. We know the competition; we understand market demands, know when we want to sell and might even know the actual date. But for far too many business owners, the business exit comes as a harsh reality and often unplanned event.

Why You Need a USP and How To Create One For Your Business. A USP is an ultimate statement of benefit. It is free, easy to duplicate and communicate, and above all, tells your prospects what's in it for them if they do business with you. Be sure to take the time to properly develop a USP that will work for you, your business and your target market.

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E-Folder - 2007 Thoughts on Strategic Planning for the Year Ahead

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