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I have probably seen it all as far as auctions go and, though I've been buying at auction for more than thirty years, I still make mistakes, still find things to surprise me. This article is designed to help you avoid most of the problems typically encoun

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

tered by newcomers and old hands alike.

* Visit as many auctions as you can to learn how individual auction companies operate. There are good, bad and downright ugly auction houses. All auction houses are bound by national and Statutory regulations, an

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

Examples of combination products may in

all have their own independent rules detailing what they expect of bidders and buyers and what you can expect of them. Legally, national rules must be displayed somewhere prominent, in the auction catalogue, for example, or on a wall or notice board in t

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

e saleroom. Most companies combine national and company rules in one location. Read and make sure you understand what they mean and ask any questions before bidding.

* Remember auction companies vary and what is common practice in one is entirely unsat

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

isfactory in another. Visit a few salerooms purely to view the proceedings and see how other visitors bid, how and where they collect their goods, whether you can pay by cheque, and so on. Some companies allow goods to be taken during the sale, others do

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

Combination pro

’t. Some require payment on the day, others will wait ten days or more.

* Following on from the last point, be careful about goods left in the saleroom while payment clears. Typically, the auction company is not liable for the safety of your goods afte

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

the sale. If they get damaged, lost or stolen, that’s your problem, not theirs. Try to pay on the day where possible and certainly in smaller auction houses and others best described as ‘iffy’. Iffy, to my mind, describes many non-custom built saleroom

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

s, such as auctions held in abattoirs and farm sales offices, any where porters are shabbily dressed, lack knowledge of individual lots, or just seem disinterested. Generally speaking, the best salerooms are those attached to large estate agencies and val

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

ation specialists or with custom built auction rooms.

* Arrive in plenty of time to get a really good look at anything you are interested in buying. Inspect everything very carefully. Make sure items with multiple and moving parts are intact and working

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

properly.

* Be on your guard against popular cons, such as pieces from one lot being exchanged for bits from another, after you have viewed and just before the auction begins. Be especially careful of large lots of collectibles, such as postcards and ci

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

arette cards in albums or boxes, stamps, pieces of vintage jewellery, sets of toy soldiers. I’ve lost count of the number of times I’ve viewed postcards one day, bid and paid for them the next, and later discovered the real gems of the collection were mis

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

Following aspects would a

sing. The cards have been moved to another box or album, originally containing low value cards which have been bought for next to nothing by the ruthless perpetrator. Check content before leaving and inform auction staff about irregularities. It’s too la

dd to the challenges in developing combination products:

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

e when you get home.

* The ‘panic button’ is a popular con, whereby, as you are bidding, probably against just one other person, someone will tap you on the shoulder and say something like: “Don’t touch those ornaments, they’re fakes’. In the time it ta

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

es you to realise what’s going on, some other person will have had the lot marked down to him. He and his friends have got what they wanted, in more ways than one!

* Watch out for bids being ‘taken off the wall’, involving non-existent bidders. This ra

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

rely happens in reputable auction houses, incidentally. Taking bids off the wall means what it says, and sometimes there is no-one bidding against you but the price keeps going up, and up. A dishonest auctioneer is reading your face to see just how far h

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

can push you to bid. Confuse him, don’t rush to bid, try to look as if you are losing interest at every bidding stage.

* Remember that the price your lot is knocked down at can be inflated quite considerably by buyer’s commission and statutory taxes.

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

Professional from academic institutions, pharmaceutical industries, health care indust

heck before bidding and add likely extras to your maximum bidding budget.

* Remember you will have to get the things you buy to your home or business premises. Some auctions provide free transportation, many don’t. If you have to hire a vehicle, take t

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

his into account when deciding how much to bid for certain lots.

* Beware ex-demonstration goods; they could be damaged. Look for fingerprints and stains indicating heavy use. Avoid stock other people have been unable to sell, they’re not likely to sel

.

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

for you either. Look especially for sticky patches where price labels have been removed. View goods from all angles and beat unscrupulous auctioneers’ attempts to hide damaged goods by standing lots close to the wall, arranging items tightly together,

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

Companies that provide selfless information through particip

lacing doilies over heavy stains, painting over patched-up holes in cars and household goods.

* Avoid items you can’t try before bidding or risk buying computers that don’t work, televisions and radios minus essential components, books with pages missing

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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When I was going to school in the early eighties we were told of a job market that was drastically different than what exists today. We were told not to worry about the future too much. All we had to do was go to school, get a job and do good work. As long as we did these things we would be taken care of.

This article describes different kinds of monitoring systems. It refers to employees' rights and whether they are being pressurized.

In my occupation as a business advisor, I see many business owners who struggle to make ends meet, try to do everything themselves, and ultimately they either lose business to the point they finally seek guidance or they end up out of business.

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