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Top Adding - The Danger of Mentoring Programs
"Listen, we want you to be a success story. if we can turn you into a success story, and you appear on our infomercials, we'll sell mor
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
e programs. It's in our best interest to make you rich. If we could turn you into one, would you be interested in being our next major
; 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
success story?"
That's one popular sales pitch by a well known real estate investment company that promises to teach others to make mi
That's one popular sales pitch by a well known real estate investment company that promises to teach others to make mi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
llions in real estate.
The customer buys a book, course, or program from a company to learn about a specific strategy. A few weeks lat
The customer buys a book, course, or program from a company to learn about a specific strategy. A few weeks lat
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 company calls Mr. Customer to see how everything is going. After speaking for a few minutes, the sales pitch begins: "Mr Custom
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
er, it sounds like you have the potential to be a huge success. How would you like it if we mentored you and helped you become a millio
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
naire?"
What a wonderful way to rip off the American public.
How do I know?
Because it happened to me.
When I was young and naive,
What a wonderful way to rip off the American public.
How do I know?
Because it happened to me.
When I was young and naive,
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
I was taken for a ride by one of these companies, and I was ripped off for $3,500. At the time, that was my life savings.
They seemed
They seemed
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
so sincere. They sounded so genuine. After all, I wasn't yet twenty years old; if they made me into a success story, it would be a grea
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
t selling point for their business. This company was going to pour their lives and resources into me, weren't they? They promised me th
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
at I had been hand selected to be mentored by them, and they only worked with about twenty people each year. This was everything that I
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
had been waiting for!
Years later, I'm waiting to hear from the company. I got what I paid for... but I paid for nothing.
So, what d
Years later, I'm waiting to hear from the company. I got what I paid for... but I paid for nothing.
So, what d
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
oes $3,500 buy from one of these mentoring programs? Usually, it buys less than ten half hour phone conversations with an "expert" who
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
reads off of a script. Truth is, however, that these "experts" are nothing more than hired high school dropouts who don't know a thing
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
about what they are talking about.
The mentoring programs get you one other way, as well; they keep your credit card number. When your
The mentoring programs get you one other way, as well; they keep your credit card number. When your
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
"mentoring" sessions are over, they enroll customers in monthly phone support, hot lines, "ask an expert" lines, or whatever they can
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
charge money for. They allow time to build, and then charge your credit card for services that were never used. Ouch.
The shame is tha
The shame is tha
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
t none of it is illegal. There's nothing illegal about their sales pitches; however, they are scams.
There are better things to do wit
There are better things to do wit
.
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
h your $3,500 than to give it to an unethical business guru.
If I had only done some due diligence on the company, I would have known
If I had only done some due diligence on the company, I would have known
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
better. Unfortunately, they played on my weaknesses, made big promises, and I trusted them. Don't be like me, folks; hang up the phone.
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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