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Just Other Articles - The Rhino Principle
The Principle
I remember reading about the Rhino Principle in Forbes Magazine a few months ago. The basic theme behind it is doing what the rhi
I remember reading about the Rhino Principle in Forbes Magazine a few months ago. The basic theme behind it is doing what the rhi
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
no does best: Charge! The rhino as an animal has survived for so many years because of its undying single-mindedness and natural aggressiveness
; 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
owards achieving a single goal. The rhino is not particularly clever, nor is it unsusceptible to the other animals in the Savannah. However, it
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
akes initiative when it sees something it wants and leaves all other thoughts of pessimism or doubt behind. Apply this same mindset in your own
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ives, whether it is as an entrepreneur or in any other aspect of your life. Take on that project you’ve been procrastinating on for months or as
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
that girl you’ve been meaning to talk to in your Chemistry class. Focus on a single goal and put all your energy into reaching that goal.
Stay
Stay
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
Focused
As entrepreneurs, we sometimes have a tendency to do all things at once. We want to take on every little side project, approach every
As entrepreneurs, we sometimes have a tendency to do all things at once. We want to take on every little side project, approach every
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
ingle potential contact, and at the same time become the next Microsoft or eBay. In reality, however, it makes much more sense to stick to that
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ne project you have huge hopes for and put all your energy into that project. Don’t spread yourself out too thin, no matter how beneficial you m
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
y think your side projects may be. Nothing is more important than focusing on your most important project and giving it all you got.
Mini-Goals
Mini-Goals
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
You have high hopes for your project and you know where you eventually want to be with it. Whether you dream of one day going public or selling
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
your company for millions of dollars, you probably have an idea of where you want to get with your project. However, it is absolutely essential
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
that you set aside “mini-goals”; smaller goals that will help you get to your main one. While one can’t plan for everything, it is necessary for
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
you to have a plan , as well as goals detailing where you want to be with your project at what time. Do you want 10% market share in 5-years? Or
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
do you want 30% market share in 5-years? It is crucial that you set up these mini-goals so you know how to gauge your progress. Further, make su
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 you apply the Rhino Principle to each one of your mini-goals to help you achieve your end goal.
I was able to find the original article publi
I was able to find the original article publi
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
shed by Forbes Magazine and included a link to it in the resource box. I highly recommend that you read the entire article.
I have applied this
I have applied this
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
principle many times in my own life and most recently in my efforts to launch
.
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
www.walamu.com. I assure you if you take the Rhino Principle to heart, you will be able to achieve tasks in a much more quick and appropriat
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
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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