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References - Should You Be Concerned About the Price or the Cost?
Both, right? But which ends up taking more from your savings account?In an effort to keep more of our hard-earned money we tend to make our purchases based on pr
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
ice alone. If something’s on sale, we determine it’s a better value. We compare similar items and buy the one with the lower price. Are we fooling ourselves?
; 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
trong>Price: The amount it takes to purchase the item in the first place
Cost: The amount we put out to own the item over the course o
Cost: The amount we put out to own the item over the course o
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
f its lifetime.
Let’s assume you can purchase an old farm house with plenty of charm for half the priceof a neighborhood house in the city. You saved m
Let’s assume you can purchase an old farm house with plenty of charm for half the priceof a neighborhood house in the city. You saved 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
oney . . . right? Well, if you bought the quiet country life and fresh air, it really doesn’t matter. You became the owner of the lifestyle you were seeking.
Ho
Ho
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
wever, if you think you saved money, you might want to think again! You’ve probably watched the 1986 movie, “The Money Pit” with Tom Hanks and Shelley Long. Do y
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
ou think this inexpensive farm house could actually cost you more to own than the more expensive home in the city?
Of course it can, and it probably will!
Of course it can, and it probably will!
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
em>
The roof needs repair, the plumbing is leaking, the paint is peeling, the foundation iscrumbling, the porch is leaning, the appliances are old and
The roof needs repair, the plumbing is leaking, the paint is peeling, the foundation iscrumbling, the porch is leaning, the appliances are old and
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
gobbling electricity and the furnace runs constantly just to keep up. Just when you think you’ve replaced everything in the house, the well goes dry! The amount
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
of money you spend each month is actually more that what you would have spent on the new home in the city. In addition, your kids aren’t in the top schools and
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
your road rarely gets plowed so you need to purchase a 4-wheel drive truck to make it through the winter.
Now how about that newer, “more expensive” home? Well,
Now how about that newer, “more expensive” home? Well,
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 taxes are a bit higher, but your kids are in great schools and will be able to attend a top college. Your utility bills are really reasonable because you h
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
ave a high efficiency furnace, plenty of insulation, a 30 year roof and brick that never needs painting! Your water doesn’t taste like iron and doesn’t depend on
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
an electric pump to flow. If anything fails, you rely on your home warranty to take care of the problem.
So which sounds like a better value? Which home is eas
So which sounds like a better value? Which home is eas
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
ier on your pocketbook? This same scenario applies to just about everything! Boats, automobiles, and yes, even airplanes! So often, the cheaper plane may be easi
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
er to acquire, but much harder to hold on to. Maintenance costs can not only keep you grounded but can cost you a bundle in repairs and the costs associated with
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
being inconvenienced. If you’re flying home to Michigan from Airventure 2007, the cost of a failure will include not only the cost of parts and labor, but also
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
the rental car, hotel, and food to get home. And don’t forget, double your costs because you have to go get your airplane in Wisconsin after the repairs are comp
.
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
lete! Can a new plane have a failure? Of course, however it’s much less likely and your plane is covered by a two year “spinner to tail” warranty.
Remember, the
Remember, 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
cost of the plane is not what you pay for it. The real cost is the amount you spend to fly your plane each hour. And yes, there are “money pits” in aviation too
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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