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Fortune Magazines' David Kirkpatrick and why IBM guru Sam Palmisano and other tech leaders feel that Second Life is a potential gold mine.

Last November IBM had major conference o

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

n global solutions for digital storage, branch less banking and more. IBM CEO Palmisano walked up to a PC, logged into a virtual 3D world and presented the idea through an avatar o

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

Examples of combination products may in

f himself through Second Life.

He went to a virtual Chinese's city built on virtual Real Estate, discussing to several other employees in other countries the possibilities of a 3D

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

Internet using a similar layout as Second Life. By January over 3,000 IBM employees where conducting meeting through the 3D world of Second Life.

This is one major example of the

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

attention Second Life has received in recent month and there is not doubt the pull of a fantasy life helps us escape our first life. This second life is a type of life one couldn'

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

Combination pro

not live in real life, one such feature is 100's of sex clubs where avatars can do their thing when ever they want with no risk or reservation. You walk through the virtual world

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

like any other 3D game using simply your arrow keys and type to chat with other avatars. It is done in a 3rd person perceptive meaning through the eyes of the avatar. Second Life h

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

as roughly 335,000 regular visitors a day, 2.6 million have checked it out and it growing at a rate of 20,000 people a day. Many small tech guru's feel that Second Life is going to

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

be huge in the next couple of years, quoting a newsletter from Strategic News Service "In two years I think Second Life will be huge, probably as large as the entire gaming commun

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

ity is today."

IBM as mentioned above as already exploited the possibilities of Second life in both a internal tool and business opportunity; teleconferencing as one of them.

A s

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

t back to the rich 3D environment of Second Life and what you can do online is how hard to control your avatar, this writer knows from first hand experience, Playing many simulatio

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

Following aspects would a

n games including The Sims 2, Second Life is very frustration to figure out what and where to go.

How Linden Labs (Creator of Second Life gains revenue) There are some major ways

dd to the challenges in developing combination products:

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

in which Linden Labs generates revenue from Second Life: 1. Charging for a premium service in which people can use money generated on Second Life called Linden dollars used to bu

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

y virtually anything in Second Life. 2. The selling and buying of virtual Real Estate. So far in Second Life 3,500 private island have been sold equivalent to 16 acres of land whe

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

re each island costs (in real money) over $1500 at a monthly cost of almost $300. Not too shabby for a piece of land that doesn't really exist. 3. Be your own entrepreneur. "There

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 nightclub owners, jewelry makers, landscapers and even pet manufacturers. In December, Linden Lab estimated that 17,000 residents had positive cash flow in Linden dollars, with

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

Professional from academic institutions, pharmaceutical industries, health care indust

about 450 generating monthly income in excess of $1,000 (that's U.S.)."

Keep in mind that Linden Labs doesn't get all of this revenue, in fact one resident who's avatar is named

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

Anshe Chung has made a real world net worth of over 1 million dollars selling virtual real estate, in fact she is so big she has 30 employees to help her buy and sell real estate i

.

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

n the virtual world of Second Life. This is not the only success of people generating real income in the virtual world of Second Life.

The question is asked will this change the w

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

Companies that provide selfless information through particip

ay in which we will do things online including business? Will it change the way we do business in general? Only time will tell but so far it has made quite an impact on both realms

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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