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Top Adding - Are You Poised for Growth as a Home-Based Business Owner?
Whether you're fairly new as a home-based business owner or if you have been one for several years, your business growth is highly depen
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
dent on your continued personal growth and industry-relevant learning.
You may have your daily functions and business operations down t
You may have your daily functions and business operations down t
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
a science, but in order to continue moving onward and upward, you need to continue developing and learning new skills and gathering kno
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ledge that will keep you current, relevant and stimulated.
The world around us (human development/technology/innovation) is growing and
The world around us (human development/technology/innovation) is growing 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
advancing at an alarming speed and in the blink of an eye you can be yesterday's news instead of today's headline or tomorrow's supersta
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
if you don't do your part to progress as well.
The industry you are working within may evolve, expand, grow smaller or transform and y
The industry you are working within may evolve, expand, grow smaller or transform and y
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
u need to be ready when that happens. You need to be aware of your industry's position in the marketplace and cognizant of where it is
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
heading.
Paying attention to your industry's standing and mindful of future trends will allow you to make decisions that will support s
Paying attention to your industry's standing and mindful of future trends will allow you to make decisions that will support s
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
rategic action and position you for continued growth and success.
To conduct business with the assumption that once change occurs, you
To conduct business with the assumption that once change occurs, you
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
ill make the necessary adaptations could be detrimental to your business, possibly devastating.
You want to operate proactively, not re
You want to operate proactively, not re
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ctively; otherwise, you may be left behind the pack, or worse yet, completely out of the race.
What activities have you participated in
What activities have you participated in
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
during the past year that are posturing you for continued growth?
What new business skills have you learned? Have you enrolled in any
What new business skills have you learned? Have you enrolled in any
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ourses to upkeep certain skills or develop new ones?
What personal skills have you learned (ie. conflict resolution, improving verbal
What personal skills have you learned (ie. conflict resolution, improving verbal
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
r written communications, interpersonal relations)?
What education, training or mentoring have you completed?
What organizations do yo
What education, training or mentoring have you completed?
What organizations do yo
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
u belong to and what is your capacity within those organizations (ie. member, chair, treasurer, secretary)?
What publications to you su
What publications to you su
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
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
scribe to?
Do you work with a mastermind group who keep you challenged, offer valuable resources, feedback and support?
Do you surroun
Do you work with a mastermind group who keep you challenged, offer valuable resources, feedback and support?
Do you surroun
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
yourself with people who are further along the life and business success continuum than you are?
Seriously evaluate your investment le
Seriously evaluate your investment le
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
el in growing yourself as a human being and as a business owner. If you see the need for additional investment, take action immediately
.
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
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
Continuous learning will keep you excited, stimulated and positioned for future growth. It will also keep your mind active and open,
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
hich will allow for creative insights, new ideas and a stronger ability to recognize valuable opportunities when they present themselves
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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