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Making money is 90% thought and 10% know-how. When I work with clients, I find the first major hurdle to overcome is their belief system governing money.

To change your financial position, the first thing you nee

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

d to do is examine your attitude, beliefs and thoughts about money. It is only the belief that money is a scarce resource that makes you feel inadequate to create more to achieve financial freedom.

The belief tha

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

Examples of combination products may in

money is a scarce resource is fundamentally unsound. From basic economics we know this. If money was a scarce resource, economies would never increase or decrease - only the wealth distribution would change. What

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

causes economies to grow is the relative output and productivity of the country.

To cultivate “right thinking” regarding money, you need to reassure yourself that there is always plenty of money. Have you ever s

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

opped to imagine how much money there is in the world today? How many hundreds of thousands of billions of dollars? There is definitely no scarcity of money. What you need is to change your perception of how money

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

Combination pro

can be made available to you. Instead of worrying about how little money you have, you need to be saying, “How can I create more money today?” You need to expand rather than contract.

Wealthy people think expansi

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

vely. They will make money regardless of whether the economy is going up or down. They look for opportunities. They are proactive. They are not afraid of failure and know that sometimes failure is part of the lear

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

ing process.

My favourite story of one man’s refusal to give up is about a man who wandered through life aimlessly until he turned 31. He then decided to start a business but was bankrupt in 18 months. He then ra

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

n for local government and was defeated badly. He started another business at age 34 and went bankrupt again.

After recovering from a nervous breakdown at 36, he went back into politics and again ran for local go

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

ernment. He lost again. At age 43, he ran for Congress and lost. He tried again three years later – and lost again. Two years later, he ran for the Senate but was defeated. Later, he was badly defeated when he ran

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

for his party’s nomination for Vice-President.

He tried again for the Senate, but lost. Finally, at 51 years of age, he won his first elected office – the President of the United States of America. He was Abraham

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

Following aspects would a

Lincoln. Lincoln later admitted he had a lifetime battle with fear and depression, but would never quit.

Wealthy people keep trying, poor people stop – or never make the attempt in the first place. “Life is eith

dd to the challenges in developing combination products:

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

r a daring adventure or nothing” Helen Keller inspires us.

Here are a few useful tips:

• Fully utilise your own special skills and abilities. We all have special talents and traits that are valuable to others.

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

• Do those activities that utilise your special talents everyday, even as a hobby. Then you can gradually build them into a new venture opportunity.

• Invest in some extra training, if necessary, to improve your

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

kills to qualify for greater income-producing opportunities.

• Change your own internal income ceiling. The best and surest way to do this is to reprogram it. That is why affirmations and visualisation exercises

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

are so effective. We all have a subconscious picture or belief about what we can or cannot have, and sometimes we just get used to having only what we have had in the past. We need to stretch our beliefs. Write ou

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

Professional from academic institutions, pharmaceutical industries, health care indust

t new goals. Plan for new opportunities. Read inspirational books on goal setting and achievement.

I believe that in all of us, regardless of age or physical health, we have special talents and skills that are va

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

uable to others. At age 81, film star Kirk Douglas suffered a debilitating stroke that rendered him powerless and speechless. After many months of intensive therapy, Douglas regained his speech and wrote a book ca

.

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

lled, My Stroke of Good Luck, describing the positive opportunities he gained from his illness, and later returned to making movies. No physical situation is detrimental to you if you use it as an opportunity for

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

Companies that provide selfless information through particip

rowth, learning and expansion.

Life will always throw up little challenges for you. You can succumb to them or you can continue regardless. Nothing can stop you when you have the right attitude and right thinking

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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