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Answers - Community Based Cause Marketing for Small Businesses
If you are in a small business you need to support your communi 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 ty as best you can and pay them back for supporting you all the ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in se years. Not only is helping the community the right thing to lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. do and you should do simply because of that sole reason, but ov here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe er the years I have watched our company do incredible business, d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro as our franchisees helped their individual communities. But w 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 hat kinds of community involvement should a business do? What k 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 inds of things can you afford to do and what kinds of things wi nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ll return the on-going favor in a circle of perpetual motion al 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 lowing customers to spend money with you and for you to take so ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi e of that money and continue to return the favor? Well there a ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a re many things you can do for instance join a local service clu dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod b and volunteer to help out and donate your time, labor and per cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin haps supplies and resources to the cause. That is a very easy t tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen hing you can do. Support a local Little League Team or buy a ba 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 ckboard at the ball park? Donate money to a silent auction. Wh ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust y not host a fundraiser for a non-profit group you feel passion y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ate about. You will be killing many birds with one stone and yo . 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 u will really be helping your business, community and feeling g elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip reat about what you are doing; do it. Consider all this in 2006 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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