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So, you understand the importance of putting out marketing to find motivated sellers. I guess you'r

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 tired of looking through countless Multiple Listing Service properties and not finding the truly

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

Examples of combination products may in

reat deals without looking at 100 properties or more. It takes some investors years to make this di

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

covery, so if you are relatively new to the business congratulations!

So, the next question is whe

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

her to use someone else's pre-made marketing materials or to create your own.

Let us take a look a

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

Combination pro

that question from a couple angles.

First, how much time would you spend writing your marketing m

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

terials? Writing a good marketing message could take a couple of days of research, writing and re-w

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

iting. Let's say it takes 16 hours.

What is your time worth? Are you a $10 per hour person? That w

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

uld be about $20,000 per year. Are you a $100 per hour person? That would be about $200,000 per yea

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

income. Do you want to earn more than that?

As an aside, if you want to make $200,000 per year, y

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

u should only do tasks that pay $100 per hour or more for 40 hours per week.

So, let us assume you

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

Following aspects would a

are a $100 per hour person. If it took you 16 hours to write your own marketing, then that's $1,600

dd to the challenges in developing combination products:

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

invested. And how do we even know if your marketing is going to be effective?

You need to spend mo

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

ey on doing market testing. You need to send out letters or flyers or post cards or signs with your

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

marketing messages on them and measure the results. You can easily spend an extra $1,000 mailing a

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

lyer or letter or postcards to test your marketing.

You've invested $2,600 in time and hard expens

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

Professional from academic institutions, pharmaceutical industries, health care indust

s in testing your message. Could there be an easier, less expensive way?

Yes, there are lots of in

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

estors that have proven to work, pre-written marketing packages. For $600 to $1,000 (or more), you

.

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

an get an entire course with marketing you can plug into that has been tested already.

When compar

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

Companies that provide selfless information through particip

d to taking the time to write it yourself and actually testing it, these courses are truly bargains

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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Now that you have decided to start that dream venture, you must learn how to create a business plan. Even the expansion of existing businesses calls for planning to ensure a systematic and sustained growth. You need no formal lessons to learn how to create a business plan. While drafting it, keep in mind some basic points and you will have the plan that best suits your purpose.

Much has been written about how finance organizations can become strategic partners with the businesses they support. Despite significant effort, not much progress has been made. Paradoxically, the link between finance and the business has been under finance's proverbial nose for some time - resource allocation. A serious concerted effort to optimize an organization's resource allocation ultimately enables finance to develop the bridge between finance and strategy. This discipline known as corporate portfolio management works to actively manage the company's resource allocation as a portfolio of discretionary investments.

You’ve got some serious debt problems. Take heart in the fact that a lot of people do these days. The key to getting out from under debt is to evaluate the situation you’re in, and then to decide if you’re willing to do what it takes to change it. Are you going to stop using the mall as your playground? If so then you have a chance to get out of debt without resorting to bankruptcy.

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