Cases - Business

This is a question that many new investors ask themselves I have asked myself this many times also. This of course must be answered individually, however below are some things to consider prior t

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

o taking that much desired step as an investor.

My first year I used my job earnings to put money back in building my business. Prudent investors do not open a business without a cash flow comin

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

Examples of combination products may in

g in regularly, or 3-6 months reserves. Disclaimer: Steve Cook did, but most of us may not be the next Steve Cook of investing, shucks anyway! For the rest of us, this article may be of help.

Ho

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

w do we know what a prudent reserve is? We have not run this type of business before, thus, costs are unknown! Well some of these expenses are: Car signs, gasoline, business cards, newspaper and

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

Nifty Nickel ads, more gas, tires, lunches networking with investors, earnest monies, computers, printers, did I mention gas, desks, paper, ink, lock boxes, small tools, more ads, high speed cabl

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

Combination pro

e, stamps, investor club fees, course fees, boot camp fees, copies, and bandit signs.

Keeping the full time job helps pay for these unseen and unknown expenses for awhile.

That is only the firs

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

t year of business, starting the second year new expenses rear there ugly head. CPA, Attorney fees, bigger printers, the second computer so you can take your laptop to with you and comp propertie

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 on the spot, and if one crashes you are still functional. Now the long term investor will purchase computer programs, Microsoft Small Business package with Outlook Express, Excel, and Word thes

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

e will make your business efficient thus saving your most precious commodity- your time. Virus protection is a must there’s fifty bucks. No one can do what you do as good as you and that’s find t

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

he deals. So better equipment and programs will help free you up to do what you do best.

You say “wait a minute, I am no computer guru” neither was I that’s why I contract one! Once you have com

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

uters you have computer problems! Another unseen but real expense. This is long term thinking.

Hiring out services in the second year is a must for time management, but you can because now you a

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

Following aspects would a

re making money investing and have a job to pay for expenses. This exponentially increases your business success. It may help to, every 4 months cut one day out a week at a time from your job.

N

dd to the challenges in developing combination products:

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

ow I am making good money so its time tell the boss “take that job and shove it" maybe, maybe not, February and March can be very slow months, but the bills continue to come in like clockwork.

T

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

hen there are the expenses that being new you occur simply because you don’t know any better and buy stuff you don’t need or find out you can get it cheaper else where! Yes that was the voice of

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

experience talking. LOL!

Health insurance is an expense that is a must, no one expects a hospital visit but it can ruin your finances, so the long term investor will calculate that in your month

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

ly expenses.

Credit is always a excellent investment in our business. To keep good credit monthly bills must be paid on time. Which will not occur waiting for a deal to close that you did not ex

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

Professional from academic institutions, pharmaceutical industries, health care indust

pect to have liens on it, or a lien put on it even after you checked title, or any other hidden problems that we are not aware of, why because again you are a new investor. A year or two in the b

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

usiness will uncover a lot of these hidden expenses.

Hopefully this has given you some ideals as to if its time to go full time or not. I have gotten conservative over the years; I have felt the

.

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

pain of poor decision making, not fun. So now if I must err I will err on the side of safety.

I have seen guys blow in and out of this business because they tried to go full time too quick. Its

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

Companies that provide selfless information through particip

okay to still work until it is ridiculous to continue, oh and in case you’re wondering…I still work two days a week, as of March 2004.

Update: I have been a full time investor since January 200

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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Looking at the advantages of hiring a debt collection agency no matter how big or small your business may be.

My definition of Items in QuickBooks is way too easy! Once you get it, you will be able to work with Items confidently.

The Think Tank we started a few years back got to the point that we needed to expand and go with the demand for new members or keep it small. Either way, we had to do some thing. After much thought we decided to try a little re-branding;

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