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Today, a lot of attention is being paid to calculating a customer’s value, and rightly so.

Th

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 main question is how much revenue and profitability will come from this person or company ov

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

Examples of combination products may in

r an expected period of time?

The equation is simple: Annual Profit Times Expected Life Equal

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

Total Expected Value.

Useful as the resulting statistic can be in respect to setting marketi

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

ng and service budgets, it is too simplistic to capture some of the subtler aspects of custome

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

Combination pro

value.

Here is a short list of five other considerations:

(1) Follow The Leader Value: As a

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

consultant, when my client list started to feature names such as Xerox, DuPont, Kraft, and oth

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

ers, it was money in the bank. Other large companies began to be comfortable hiring me because

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

I was pre-screened by their peer group, and smaller companies found the larger names impressiv

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

.

(2) Foot In The Door Value: When you land your first client in show business, the rest of t

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

e industry feels you’re an insider, and doors that were tightly sealed, now become penetrable.

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

Following aspects would a

(3) “Pride” Value: I did a major program for the U.S. Navy as part of an elite team. We trai

dd to the challenges in developing combination products:

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

ed 18,000 senior managers in 18 months, with extraordinary results. I’m very proud of that cli

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

nt, and that project.

(4) Educational Value: We learn from our customers, and some have great

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

lessons to teach us. I’ve been able to work with some of the best people in sales and custome

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

service, and I think their contribution to my thinking shows.

(5) Altruistic Value: If you’r

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

Professional from academic institutions, pharmaceutical industries, health care indust

helping your alma mater to raise funds for an important purpose, you’re doing something good,

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

and perhaps even noble. You don’t expect your entire reward to be denominated in dollars.

So

.

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

the next time you’re pursuing a client, or you’re calculating the cost of keeping one, consid

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

Companies that provide selfless information through particip

r this short list.

It may give you greater insight into a how much a customer is really worth

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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Fresh out of B-school Campus;…. just ambled into your first job just because you got it easy on Campus…… The reality of “CTC” Pay Package has dawned on you when you check your first pay-slip……Just realized that the worst professor in college is still better than your first Boss…….

It is amazing the amount of competition and modern franchising today in the United States and starting in the rest of the world also. Competition in the marketplace is good for consumer prices and for customers, but when it gets ugly it serves no freeman. And it is amazing how quickly the competition can get very ugly.

There is no single formula for balance. In achieving an integrated life balance, you need to keep things in perspective as you create harmony mixed with work, family and friends, and your own personal relaxation. Remember, there is no single formula for balancing your life, you need to create it. Life is a process, and striving for balance in your life is part of that process.

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