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Just Other Articles - 80-20 - The Parieto Principle in Joint Ventures
We know that 20% of the people get 80% of the results in any group. That same 20% does most of the work and also makes most of the money. This
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
applies to any group. That Inner Circle of committed, smart people actually understand that “What goes around, comes around”, that we reap wh
; 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
t we sow and that repetition builds momentum, which in turn builds exponential wealth.
We also know that 65% of the business ideas we try, wi
We also know that 65% of the business ideas we try, wi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ll probably fail. And 20% of those that work can make your very rich. Now if you’re in a conventional business, that could be disastrous – a h
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ge risk – you could lose everything – so we take less risks and try less things. As a Joint Venture Broker, however, it doesn’t matter! If we
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
pproach JV’s with a “No money, no risk, win/win” mentality, we have nothing to lose except a little time. So we can be the Babe Ruth’s of busi
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
ness, striking out at will and enjoying it! The more you try, the more you succeed – it’s a numbers game, after all. We can go crazy trying ne
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
things, having fun, being creative with Joint Ventures – it’s magical.
So here is a simple Joint Venture Success Formula that works really w
So here is a simple Joint Venture Success Formula that works really w
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ell for me:
First, choose your JV partners very carefully. Don’t listen to what people say; talk is cheap and money buys the whiskey. Watch w
First, choose your JV partners very carefully. Don’t listen to what people say; talk is cheap and money buys the whiskey. Watch w
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
at they DO. Not when things are going well, but when cash flow is tight and the chips are down. Watch them over a period of time, do your due
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
iligence and look for patterns. Look for that small 20% (I think it’s closer to 5% if you’re really selective.) Those who show up. Those who h
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
ave your back. Those who deliver. Do you know how many people promise and don’t follow through? How many people were going to join the Joint V
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
nture Forum and never did? Now they don’t understand why I won’t do business with them – I only do business with Members, on principle. Seek o
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
ut the Eagles, not the turkeys who wear Eagle masks.
Second, try many things! If only 20% of them work out, you can still make a fortune! Tha
Second, try many things! If only 20% of them work out, you can still make a fortune! Tha
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
means that you have to take massive action. Now if you’re working with the 20% of people who actually work, you’re on the right track. Winner
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
don’t get phased if something doesn’t work out – in fact, they get excited because they know they’re getting closer to the gold! I love worki
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
ng with Eagles because they are bulletproof. They are optimists. They are impervious to the slings and arrows of losers. They are excited abou
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
their goals.
20% of people, and 20% of the JV’s we try – that’s reality. Now, if you try 20 things a year, you might make some money. But if
20% of people, and 20% of the JV’s we try – that’s reality. Now, if you try 20 things a year, you might make some money. But if
.
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
you try 20 things a WEEK, WOW! Get excited – get very excited – Joint Ventures is the key to making real money with no cost or risk. Join the
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
Forum, get involved and let’s make all our dreams come true. Together, we DO amazing things. You can find more information at www.jvwisdom.com
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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