Just Other Articles

The Modern Day Franchising Model is perhaps the greatest business strategy ever created in the history of mankind. Why you ask? W

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

ell, franchising pays dividends to both Franchisee and Franchisor in a Win/Win Situation. When the Franchisees win the Franchisor

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

Examples of combination products may in

wins in increased brand name and royalty income.

As the brand name increases the Franchisee finds more loyalty in their custome

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

r base and the Franchisor finds a greater number of new entrants wishing to buy into the franchise system as new potential team m

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

embers or Franchisees. This allows the Franchisor to be more choosy in which potential new team member candidates they decide to

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

Combination pro

sell to and thus strengthens the system again with better franchise buyers with more capital, business acumen and strength of cha

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

racter. Of course each new strong Franchisee increase the strength of the Franchise System.

In franchising it is not merely a Wi

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

/Win for the Franchisee and the Franchisor, because such strength in the market place allows for a larger organization, which ben

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

efits off the economies of scale and that means lower prices for consumers and customers. Those who partake in the products and s

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

ervices of the franchised outlets also have piece of mind knowing that they will receive quality, great service and consistency.

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

Once the franchise system gets going and if it is run properly it is like a rocket ship.

Is there a downside to franchising? Ind

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

Following aspects would a

eed there is but it is probably not what you think. The Franchising model is a highly regulated industry even though it has the l

dd to the challenges in developing combination products:

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

owest number of complaints, almost nil on a percentage basis and of the less than 1% of complaints that are received each year ne

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

arly 70% are unjustified and bogus. Then there is the litigious nature of the franchising industry where lawyers have hijacked th

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

laws and regulations and worked too closely with regulators to mold the rules to their benefit. Some call this a parasitic relat

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

ionship and few could argue case, expect the self-serving lawyers.

As a Founder of a Franchising Company, I built my company fro

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

Professional from academic institutions, pharmaceutical industries, health care indust

m 53 units in 39 cities where we regionally dominated our industry sub-sector to a full-fledged franchising company serving 450 c

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

ities, 110 markets after selling franchises in 23 states and 4-countries. Having built the company literally from scratch and kno

.

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

wing every single job like the back of my hand, I feel qualified to help you understand and discover all you need to know about T

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

Companies that provide selfless information through particip

he Franchise Business Model. I thank you for reading my article and perhaps this article is of interest to propel thought in 2007

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.justotherarticles.org.ua/article/19242/justotherarticles-2007-Franchise-Review--Understanding-the-Franchise-Business-Model.html">2007 Franchise Review - Understanding the Franchise Business Model</a>

BB link (for phorums):
[url=http://www.justotherarticles.org.ua/article/19242/justotherarticles-2007-Franchise-Review--Understanding-the-Franchise-Business-Model.html]2007 Franchise Review - Understanding the Franchise Business Model[/url]

Looking after your current clients is far more effective in gaining business than marketing to new people. Here is why.

Planning is critical in a stable as well as changing environment. If you fail to plan, you plan to fail. In the fast tracked world, it is so easy to forget to plan and merely blindly execute without a proper plan in place. This is a recipe for failure.

Tags

Links

Just Other Articles - 2007 Franchise Review - Understanding the Franchise Business Model

Related Articles: