Cases - Business

As another new calendar or fiscal year begins, it is wise to take a good hard look ahead at

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

where your business is heading in light of the business environment of the new year. It i

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

Examples of combination products may in

s also wise to develop new goals for the upcoming year in this new business environment. 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.

he way to take this proactive and positive step in your business is to use strategic thinki

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

ng and planning.

Looking at the start of a new year, we can acknowledge some uncertainty i

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

Combination pro

the business environment and perhaps in our personal lives. Therefore, it is the perfect

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

time to engage in strategic thinking and planning to benefit from the opportunities that 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

re always present, especially during uncertainty.

So what are the benefits of using strate

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

gic thinking and planning for a new year? Here are seven (7) benefits, according to your s

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

trategic thinking business coach.

Benefit # 1: An opportunity to take a fresh look t the

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

usiness environment and how to strengthen your business to take advantage of the changed bu

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

Following aspects would a

siness environment.

Benefit #2: An opportunity to take a fresh look at your business visi

dd to the challenges in developing combination products:

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

on and mission. And to make any needed revisions.

Benefit #3: An opportunity to review y

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

our business differentiators and positioning statement(s) to create effective strategies fo

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

r the new year.

Benefit #4: An opportunity to review your business assets and resources t

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

ensure you have what is needed for the new year.

Benefit #5: An opportunity to review yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

ur strengths, weaknesses, opportunities & strengths and apply what you learn to create effe

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

ctive communications and marketing strategies.

Benefit #6: An opportunity to develop new

.

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

goals in a revised strategic action plan for the new year.

Benefit #7: An opportunity for

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

Companies that provide selfless information through particip

building renewed commitments and confidence for a brighter business image for the new year

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.cases.org.ua/article/1305/cases-Seven-Benefits-Of-Strategic-Thinking-And-Planning-For-A-New-Year.html">Seven Benefits Of Strategic Thinking And Planning For A New Year</a>

BB link (for phorums):
[url=http://www.cases.org.ua/article/1305/cases-Seven-Benefits-Of-Strategic-Thinking-And-Planning-For-A-New-Year.html]Seven Benefits Of Strategic Thinking And Planning For A New Year[/url]

I have learned that time management is a huge issue with many of my clients. So, to help with this common problem, below are some tips to at least get you started on how to make the most out of your limited resource: Time.

There are many tips available for improving your chances on acquiring business credit. Find out about the criteria and collateral options required by many government funding options and then decide which business credit options are best for your business.

Big money isn't as much in winning customers as in keeping customers. Think of them as individuals-each individual customer's perception of your company will determine how well you do this. Here are some easy, down-home steps-to-remember when you want to keep 'em coming back!

Tags

Links

Cases - Seven Benefits Of Strategic Thinking And Planning For A New Year

Related Articles: