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Advice Pool - Yes - You CAN Compete with Offshore - Part I
American companies historically are driven to look at the bottom line. This is in contrast to German companies, which tend to focus on technology; or Japanese companies, which tend to focus on geography. While the bottom line focus does
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
show a snapshot of company performance, it reveals nothing of what generated that final number OR what can be done to improve it. BUT we use it anyway to make many decisions, and we can be fooled by what it seems to be telling us.
MORE THA
MORE THA
; 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
N THE BOTTOM LINE
How’s that…you ask? Well, let’s get really simple. Why do people buy from us in the first place? It can be for a number of reasons, among them quality of the product, friendliness of the service, alignment to particular
How’s that…you ask? Well, let’s get really simple. Why do people buy from us in the first place? It can be for a number of reasons, among them quality of the product, friendliness of the service, alignment to particular
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
requirements, responsiveness to needs, ability to deliver to a schedule, and…oh yes! Cost of the product!
Now our purpose here is to find ways to be more competitive, so let’s bust up that list and look at it systematically.
QUALITY OF TH
Now our purpose here is to find ways to be more competitive, so let’s bust up that list and look at it systematically.
QUALITY OF TH
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
E PRODUCT
If you come right down to it, what IS quality? It could mean that the product will last a long time. It could be that it is particularly suited to the job it’s supposed to do. It could mean that it really looks good and is plea
If you come right down to it, what IS quality? It could mean that the product will last a long time. It could be that it is particularly suited to the job it’s supposed to do. It could mean that it really looks good and is plea
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
sing to handle. Putting all of these in a nutshell: quality means the product is well made. The customer buying your product is really the one who makes the final judgment on the quality of your product, even though he may have initially h
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
eard about it from someone else. That judgment takes a period of time to develop, but once it’s given, it becomes part of the reputation of the company producing it. So look first at the quality of your product – how does it measure up? M
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
easure up, there’s a good phrase. If you want to really measure the quality of your product you will have to know what the customer says it is. While quality is produced by the manufacturer, it is defined by the customer. So right off, yo
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
u’ve gotta know what they want. How are you going about doing that? The first step in improving your competitive-ness involves re-evaluating customer requirements for quality, and then seeing how you’re doing against those.
FRIENDLINESS OF
FRIENDLINESS OF
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
THE SERVICE
One of the really interesting statistics floating around out there is that only 15% of manufacturing is actually related to the manufacturing line – the rest is service. Think about it. Evaluating customer needs, dealing with
One of the really interesting statistics floating around out there is that only 15% of manufacturing is actually related to the manufacturing line – the rest is service. Think about it. Evaluating customer needs, dealing with
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
customers before the sale, making the sale, delivering the product, following up with the customer, answering questions or training, servicing the product…what are all of these? Right! They are services. How competitive are you in each o
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
f these areas? Have you ever systematically evaluated how you are doing?
In service, especially immediately before the sale and in customer follow up, American companies have a real opportunity to be much more competitive than those who ha
In service, especially immediately before the sale and in customer follow up, American companies have a real opportunity to be much more competitive than those who ha
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
ve outsourced these functions. Why is that? The answer lies with idiomatic English. It is one thing to learn English in a university and speak it well, it is wholly another thing to know the idioms that accompany American speech. Think a
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
bout it. Have you ever been on the phone with a foreign customer service rep with a question, and gotten the phone equivalent of the “deer in the headlights” look? There is almost nothing in existence that is better guaranteed to raise you
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
r blood pressure a couple of dozen points!
A recent experience by one consumer seeking to buy new cell phones and service for his business comes to mind. The guy had found a great deal, and put the order in for the phones and service onlin
A recent experience by one consumer seeking to buy new cell phones and service for his business comes to mind. The guy had found a great deal, and put the order in for the phones and service onlin
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
e; so far, so good. But then an email came telling him there was a glitch, and he needed to call this 800 number to get it straightened out. The number put him in touch with an American company’s phone center somewhere in India (they were
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
cutting costs by moving it offshore) and the resulting experience finally caused him to cancel two different purchases that involved four cell phones and several long term contracts. Now, what was the actual bottom line savings to that cell
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
phone company? The loss of that sale probably amounted to about $2,000 a year – but how often did this happen in the course of that month – or that year? What was the overall loss? Interesting to consider, huh? And what about the reputa
.
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
tion of the company? Do you think that businessman will be likely to purchase from them in the future?
So there is a very real opportunity to increase both your sales and your competitiveness by having service people who are well trained i
So there is a very real opportunity to increase both your sales and your competitiveness by having service people who are well trained i
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
n customer service, who know your products, AND who are able to communicate easily and quickly with your customers. You are saving them time and money, and they are much more likely to continue with you in future business. Part 2 to follow
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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