Cases - Business

While Customer Relationship Management (CRM) technology has promised much, the reality for many has been disappoint

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

ing. Industry analysts estimate 50-60% of implementations fail, or produce marginal return on investment. Our expos

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

Examples of combination products may in

ure to small and medium enterprises (SME) suggests that this rate may well be significantly higher. The irony is th

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

at the problem lies less with the technology itself (though that may receive much of the blame), but in much more e

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

asily addressed flaws in the way that organizations approach and implement CRM projects.

CRM technology should hel

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

Combination pro

organizations generate more leads, convert a higher

proportion of them, and retain customers longer through enhan

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

ced service, and more profitably through the more effective promotion of additional products and services.

CRM tec

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

hnology is a unifying technology supporting the operational needs of ‘front-office’ departments such as sales, mark

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

eting, and customer support, sharing a single database of information about customers, prospective customers, chann

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

el partners, suppliers, competitors etc. The CRM database works as a central repository of data typically integrate

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

into other key systems such as finance. The system is designed to be accessed remotely to meet the needs of organi

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

Following aspects would a

zations spread across multiple locations, and staff who may not be office based. Typically this unifying CRM techno

dd to the challenges in developing combination products:

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

logy aims to benefit marketing, sales and service departments.

Successful CRM isn’t that difficult, but there’s mo

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

re complexity involved, and more commitment required than many organizations had envisaged. With greater levels of

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

planning, executive support, and awareness of the challenges surrounding user adoption, organizations can effective

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

y drive CRM technology to deliver the promised vision. With so many struggling to get it right, the rewards for tho

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

Professional from academic institutions, pharmaceutical industries, health care indust

se that do will remain very high.

In summary, CRM technology should help organizations generate more leads, conver

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

t a higher proportion of them, and retain customers longer through enhanced service, and more profitably through th

.

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 more effective promotion of additional products and services. Our “Vision and Reality” white paper sets out our v

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

Companies that provide selfless information through particip

iews on why this has happened, and outlines strategies for minimizing the risks and maximizing the returns from CRM

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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