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Business Dump - Am I Entitled to My Contractor's or Designer's Trade Discount?
It is well known that contractors and designers may receive a trade discount on the materials they purchase. The ac
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
tual percentage can vary based on the product, the volume of business given to an individual retail store, and the
; 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
volume of the order. Some designers will pass along the discount and off set their income by the hourly rate charge
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
d to the client. Contractors may also offer some of their savings to clients as well, however, it is important to b
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
oth to establish these terms in advance with their client.
There are pros and cons associated with each approach a
There are pros and cons associated with each approach a
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nd a savvy consumer needs to appreciate the business model of these professionals so that each can walk away satisf
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
ied with the deal. Many customers often inquire, "Do I get an additional discount if I am working with a (contrac
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
tor/designer). As a retailer or vendor, trade discounts are not considered entitlements for the trade or the co
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
nsumer. The discount is used as a method to drive loyalty, repeat purchases, and reward the trade professional for
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
being, essentially, an additional lead channel. Some retailers will require minimum levels of volume purchases b
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
efore a trade professional will be eligible for a discount and increasing discount levels will be provided based on
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
increased volume.
The pros of your designer or contractor passing along the discount directly seems obvious, as t
The pros of your designer or contractor passing along the discount directly seems obvious, as t
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
he consumer can directly see the savings benefit on the material cost. However, you will be paying elsewhere. I
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
f you are approaching a relationship with a contractor or designer based on the discount that they can provide to y
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
ou, you also need an appreciation that the trade professional needs to make a certain amount of income to survive.
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
Every business requires a certain level of margin to manage their ongoing expenses. For some business models, 1
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
0% is enough to be profitable and deliver good service. For other business models, 80% margin may be necessary.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
It is important for the consumer not to envy the discount if a trade professional does not pass this along, as thi
.
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
s is frankly, a component of their overall income. And as that old adage goes, you get what you pay for.
LuxeTil
LuxeTil
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
e is THE trade source for all stone, tile, glass, and ceramics products that are the highest quality in the market.
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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