Advice You - Business

The field of headhunting is a very challenging one when it comes to finding and recruiting top sales and marketing talent…whether they be executive, mid-level,

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

sales management, marketing management or front line sales and marketing producers. Searching for these types of top candidates is no easy task.

If your com

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

Examples of combination products may in

any is trying to find the best, make sure to bring in an experienced sales and marketing recruiter who can help you. They are worth their weight in gold, and

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

their fees are easily justified. By outsourcing to a search firm, you can reduce your hiring time, improve the process and avoid the risk of mis-hires.

I see

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

lots of companies that have made mis-hires over the years, and it’s not because they haven’t done their best to find good candidates. The problem is that thei

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

Combination pro

r best is just not good enough. Often times, Presidents or Chief Operating Officers or VP’s of Sales rely on the same tools as everybody else to try to find c

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

ndidates, which includes posting ads on Monster.com, Careerbuilder or one of the other major career sites. This just doesn’t cut it anymore.

If you want to

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

find the best talent, deploy the best talent to find those people for you, which means hiring an executive search or retained recruiting firm that specializes

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

n sales and marketing. If you don’t, you’re doing yourself a disservice. Now you may ask yourself, why should I spend money to go find candidates when I can

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

just find them myself by posting on the internet? The fact is, the best people, the top talented people are not looking for jobs, they already have jobs. So

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

they’re not going to see your job psoting because they’re not actively looking at online listings. Recognize that those talented people are already working, ha

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

Following aspects would a

ppy and making good money in a job somewhere else. You’ve got to go find them, and the best way to do this is through a professional recruiting firm.

It’s ver

dd to the challenges in developing combination products:

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

costly, very time consuming and very difficult for somebody who’s running a business to go spend time to actually identify, locate, find and extract potential

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

employees from competitors or other companies. This is where an executive search firm ads real value.

The fees involved can run between 25 and 35% of a pers

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

n’s total compensation in the first year, which is a lot of money. You’d ask yourself, how can I justify that? The answer is, how can you justify not spendin

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

g that money if it makes a difference between hiring an “A” player and hiring a “C” player? An executive recruiting firm possesses the ability to find top ta

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

Professional from academic institutions, pharmaceutical industries, health care indust

ent and put them to work for you.

Think about how the following would impact on business: hiring a person into a position to sell $1 million in annual revenu

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

e, versus hiring a top performer who can achieve $3 million worth of annual revenue. If you hire a recruiter who can bring this kind of incremental revenue to

.

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

your company by finding top talent, why wouldn’t you pay for the best? They’re going to pay for themselves over and over and over again throughout the years.

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

Companies that provide selfless information through particip

So think about hiring a sales and marketing recruiting company, or a sales and marketing staffing company as a strategic vehicle towards growing your business

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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