Advice Pool - Business

As millions of people across the country prepare to make enrollment decisions for

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

their health care and retirement coverage, many are finding they have more benefit

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

Examples of combination products may in

choices than ever before. While enrollment season can sometimes be a confusing and

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

overwhelming time, there are common-sense guidelines that can assist employees in

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

heir decision making process.

With time it is been observed by industry houses th

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

Combination pro

importance of competitive salary and benefits package. The objective now is how t

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

attract and keep high profile employees. The industry is becoming so competitive

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

that to think of costs will in turn effects the rising pressure from employees for

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

increased benefits.

Offering payroll deduction to the workforce is turning out to

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

be an excellent supplement to the existing benefits program. Recent surveys indica

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

e that over the past 10 years, employee interest in buying insurance through payro

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

Following aspects would a

l deductions has doubled.

Employees concerned about their future will see the val

dd to the challenges in developing combination products:

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

e of a voluntary payroll deduction insurance program. It is a win-win situation f

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

r everyone.

Every organization has a strategic interest in the well-being of its

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

employees. New benefit software’s available in the industry shares that concern an

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

leads the industry in helping employers communicate the most direct manifestation

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

Professional from academic institutions, pharmaceutical industries, health care indust

of this concern; total employee compensation.

The United States Bureau of Labor S

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

atistics reports in a recent survey of American businesses that employers pay 38%

.

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

n top of gross salaries in employer provided benefits. Other studies show that as

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

Companies that provide selfless information through particip

any as 50% of all employees neither understand nor appreciate these benefits.

Pau

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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