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Yes, you read that correctly: ten years. eBay was created in September 1995, by a man called Pierre Omidyar, who was living in San Jose. He wan

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

ted his site - then called 'AuctionWeb' - to be an online marketplace, and wrote the first code for it in one weekend. It was one of the first

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

Examples of combination products may in

ebsites of its kind in the world. The name 'eBay' comes from the domain Omidyar used for his site. His company's name was Echo Bay, and the 'eB

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

y AuctionWeb' was originally just one part of Echo Bay's website at ebay.com. The first thing ever sold on the site was Omidyar's broken laser

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

ointer, which he got $14 for.

The site quickly became massively popular, as sellers came to list all sorts of odd things and buyers actually b

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

Combination pro

ught them. Relying on trust seemed to work remarkably well, and meant that the site could almost be left alone to run itself. The site had been

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

designed from the start to collect a small fee on each sale, and it was this money that Omidyar used to pay for AuctionWeb's expansion. The fe

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 quickly added up to more than his current salary, and so he decided to quit his job and work on the site full-time. It was at this point, in

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

996, that he added the feedback facilities, to let buyers and sellers rate each other and make buying and selling safer.

In 1997, Omidyar chan

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

ed AuctionWeb's - and his company's - name to 'eBay', which is what people had been calling the site for a long time. He began to spend a lot o

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

money on advertising, and had the eBay logo designed. It was in this year that the one-millionth item was sold (it was a toy version of Big Bi

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

Following aspects would a

rd from Sesame Street).

Then, in 1998 - the peak of the dotcom boom - eBay became big business, and the investment in Internet businesses at t

dd to the challenges in developing combination products:

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

e time allowed it to bring in senior managers and business strategists, who took in public on the stock market. It started to encourage people

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

o sell more than just collectibles, and quickly became a massive site where you could sell anything, large or small. Unlike other sites, though

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

eBay survived the end of the boom, and is still going strong today.

1999 saw eBay go worldwide, launching sites in the UK, Australia and Germ

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

ny. eBay bought half.com, an Amazon-like online retailer, in the year 2000 - the same year it introduced Buy it Now - and bought PayPal, an onl

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

Professional from academic institutions, pharmaceutical industries, health care indust

ine payment service, in 2002.

Pierre Omidyar has now earned an estimated $3 billion from eBay, and still serves as Chairman of the Board. Oddl

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

enough, he keeps a personal weblog at http://pierre.typepad.com. There are now literally millions of items bought and sold every day on eBay,

.

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

ll over the world. For every $100 spent online worldwide, it is estimated that $14 is spent on eBay - that's a lot of laser pointers.

Now that

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

Companies that provide selfless information through particip

you know the history of eBay, perhaps you'd like to know how it could work for you? Our next article will give you an idea of the possibilities

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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Answers - eBay: The First 10 Years

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