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One of the comments I hear most often from my clients is that they are struggling to make a living with their business. They're very often in a positi

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

on where they are in dire need of getting clients or making sales just to pay the bills.

And when you're just getting your business off the ground thi

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

Examples of combination products may in

is to be expected.

Because it takes time to get your business up and running and to market and to become known.

It's not usually something that happen

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

s overnight.

Every time I've launched a new business, I've taken steps to ensure I don't end up in this dire situation. Because there is nothing more

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

tressful than wondering if you're going to be able to pay your bills.

Or feeling like if you don't start generating more income fast, you're going to

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

Combination pro

ave to give up your dream and go back and get a job.

So what are the steps I've taken?

I've always made sure I have a source of income to support me

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

while I'm starting a new business.

Eight years ago when I began my marketing consulting business, I negotiated a part-time contract position with the a

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

vertising agency I was working with. I continued to work with them part-time while I was building my own business.

That contract gave me enough income

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

o get by and to finance the start-up of my new business, while also giving me time to spend on my new business.

I did the same thing when I started 10

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

stepmarketing. I didn't dump my consulting business to start a new business. I started 10stepmarketing on the side, and slowly let consulting clients

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

go as I started to generate new income.

In fact, I still do some consulting as I continue to build 10stepmarketing.

By continuing to do work that gener

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

Following aspects would a

tes income while I have started and built my two businesses, I have avoided a lot of stress and I've been able to finance the start-up phases and the

dd to the challenges in developing combination products:

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

marketing of my new businesses.

For me it's worked well.

So if you're currently struggling, you may want to consider how you can apply this approach t

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

your business.

Is there a way you could contract with a larger company on a part-time basis to start generating income while you continue to work on b

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

ilding your new business?

If you haven't quit your day job yet, don't. Instead see if you can negotiate a part-time arrangement. That will give you a

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

steady income while allowing you more time to build your new business.

Consider looking for contract work on Elance (www.elance.com) or through industr

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

Professional from academic institutions, pharmaceutical industries, health care indust

associations, or contacts you have in your area or line of work.

Building a new business takes time. Overnight successes are few and far between.

Ma

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

e sure you've got the resources to allow yourself to take the time to build your business right. Because in the end, if it's a business you look forward

.

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

to sticking with for years to come, it makes sense to take the time to create the foundation and do it right from day one.

And people who are strapped

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

Companies that provide selfless information through particip

for cash, or in dire need of getting clients, tend to make compromised decisions that may not always be in the best long-term interest of their business

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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