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My clients often ask me, "Do I need to do business on the Internet?"

They want me to compare and contrast online bu

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

siness with offline business. I usually just give them the bluntest response: The phrase 'business on the Internet'

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

Examples of combination products may in

s redundant. Like breathing the little bit of air left at the top of a sinking car, the remaining offline businesses

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

are just trying to last as long as possible in the new ever-changing technological world. Like the dinosaurs, offli

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 entrepreneurship is an artifact of history.

The question is not "Do I need to do business on the Internet?" The q

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

Combination pro

uestion is "Do I need to do business?" If you need to do business, than you have no choice but to do it on the Inter

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

et.

You need not fear the Internet. Many people new to the Internet business seem nervous or even afraid at the tho

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

ught of doing business online. Many people hesitate to move their business to or start their business on the Interne

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

. However, they should fear offline business! One can find opportunity, new developments, and emerging markets all o

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

ver the Internet. The offline market dries up more and more everyday. It is not the desk and computer that business-

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

eople should avoid. It is the "brick-and-mortar" store that is dangerous and failure-ridden.

The Internet is the Wa

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

Following aspects would a

l Street of the 21^st century.

The great thing about this new Wall Street is the empowerment it gives to

dd to the challenges in developing combination products:

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

the little guys and to the beginners. The questions of a beginner (or an expert for that matter) are always one Goog

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

e search away. With an email account a new entrepreneur can instantly talk to anyone anywhere in the world. Even bet

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

ter, with a website a new entrepreneur can do business with anyone anywhere in the world. In the comfort of one's ow

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

home or local office, one can fiber-optically connect to people, businesses, and information in an instant.

No lon

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

Professional from academic institutions, pharmaceutical industries, health care indust

ger is this form of business capability monopolized by high-rollers with private jet planes and satellite picture ph

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

nes.

Such efficient and available access to the Internet brings opportunity - opportunity not just for the few, but

.

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

rather freedom of opportunity for everyone. To those who worship meritocracy, the Internet truly is the messiah.

S

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

Companies that provide selfless information through particip

, if you plan on doing business, you have to do it on the Internet, but that's not a bad thing; that's a great thing

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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What does your brand stand for? What do consumers want from a brand and how can your organization deliver that need.

Writing a business plan for your Solo Entrepreneur business doesn't have to be a daunting project. If you can answer 10 straightforward questions about your business, you can be ready to go.

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