E-Folder - Business

Here is a funny story. An event coming up next weekend that will benefit a local charity. This

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

event, like other special events, is a revenue stream for nonprofit organizations and requires

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

Examples of combination products may in

corporate sponsorships. A big car dealer was contacted and asked for his consideration. After a

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

call or two and a package sent, his reply was, "I just can't get excited about your cause." Ca

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

n you imagine? His reason for not sponsoring was about his lack of enthusiasm for the cause. Ye

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

Combination pro

, if he had a giving plan in place that aligned with the company values and market, he would kn

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

ow that this event aligns perfectly with his company for various reasons. I know this for sure.

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

At your place of business, I bet that you receive several (okay, a lot) phone calls and corpo

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

rate packets from organizations seeking your sponsorship for their event. So, how do you decide

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

which events to support? Do you continue to support the same event(s) each year? Have you deci

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

ed that you will cut back on event sponsorship and instead give back in other ways? How have yo

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

Following aspects would a

u made your decision? Based on what criteria?

With so many black-tie galas, road races, and wa

dd to the challenges in developing combination products:

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

lks held in communities, nonprofits are finding it more competitive and challenging to increase

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

their awareness and raise dollars this way, and companies are re-strategizing how they allocat

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

e their philanthropic resources. It's no wonder event sponsorships have dropped in the last two

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

yeas across the U.S.A.

Have you really asked why you have made the decisions you have to spons

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

Professional from academic institutions, pharmaceutical industries, health care indust

or an event or not? There are reason why you should or shouldn't consider sponsoring events. Yo

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

u have to get very clear and be able to justify your response (and please don't say it's becaus

.

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

e you couldn't get excited about it). This is just one step to ensure you are making a differen

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

Companies that provide selfless information through particip

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.e-folder.org.ua/article/512/e-folder-Event-Sponsorship--Should-We-or-Shouldnt-We.html">Event Sponsorship - Should We or Shouldn't We?</a>

BB link (for phorums):
[url=http://www.e-folder.org.ua/article/512/e-folder-Event-Sponsorship--Should-We-or-Shouldnt-We.html]Event Sponsorship - Should We or Shouldn't We?[/url]

Marketing your value may feel a little awkward at first, but with a little practice to make it feel authentic, the initial discomfort will melt away. Your reward is others viewing you with greater esteem, which sets you up for even greater success. Because, after all, success isn't over rated, it feels fabulous!

The popularity of electronic document recording is rapidly increasing in today's fast paced business world. The advantages of using electronic documents is overwhelming compared to paper documents.

Here are some quick tips about branding and how one jeans company has a leg up on the competition.

Tags

Links

E-Folder - Event Sponsorship - Should We or Shouldn't We?

Related Articles: