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Advice You - Building a Solid Network
A client who has a fine arts degree wanted to move out of his successful career in advertising and into the real estate development business. He had already enrolled in a top notch MBA p
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
rogram to learn more about the field. In addition he had found work with a bank doing real estate appraisals.
With another year to go in the MBA program he came to me to work on creatin
With another year to go in the MBA program he came to me to work on creatin
; 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
a plan for becoming a real estate developer.
It is not unusual for someone to study one thing in college, try it for a while and then decide that there is another field that is more app
It is not unusual for someone to study one thing in college, try it for a while and then decide that there is another field that is more app
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ealing. This dramatic change however brought up all kinds of fears for my client.
His first concern was that potential employers would look at his resume and see nothing on it that would
His first concern was that potential employers would look at his resume and see nothing on it that would
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
indicate he had the skills necessary for his new career. He wasn’t sure that he really knew exactly what a career in real estate development entailed or even if it was the right choice f
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
r him. Finally he was worried because all his connections were in advertising.
Those questions could easily be answered by someone already in the field. Where could he find some names
Those questions could easily be answered by someone already in the field. Where could he find some names
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
and an entre? One place that many of my clients overlook when they are looking to make new connections is their college alumnae office. Most alums truly want to be helpful to students a
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
d fellow alumnae. My client could easily make use of the alumni office at his current business school. The best way to make a new connection is to have a common interest (your college) o
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
r a mutual friend that connects you.
My client was still a bit reticent. “Do you think they will really talk to me?” he asked. I asked him to think back in his advertising career to a
My client was still a bit reticent. “Do you think they will really talk to me?” he asked. I asked him to think back in his advertising career to a
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
ime when someone he didn’t know well called him out of the blue to ask for something. How did he feel about it? Did he help?
Often the person being called is flattered by the attention
Often the person being called is flattered by the attention
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
and is eager to help. Ten years ago a young man who had been a student of mine 25 years prior to that called me to reconnect. He actually called to tell me what an impact my teaching had
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
made on his life. I was flattered and delighted to hear from him.
The young man who called me wasn’t looking for help at that moment. Keeping in touch with your network even when you
The young man who called me wasn’t looking for help at that moment. Keeping in touch with your network even when you
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
on’t have questions to ask makes it easier to reconnect when you need help or information. Those people who willingly help others will find many helping hands when they need help themsel
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
ves. Be sure to be that helping person yourself! J
Professors and teachers from your school days can be powerful sources of information too if you stay in touch with them. If you are cu
Professors and teachers from your school days can be powerful sources of information too if you stay in touch with them. If you are cu
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
rently in school, nurture those relationships. If you are out of school it is never too late to rekindle them. (My former student waited 25 years!!)
Building a solid network of people i
Building a solid network of people i
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
important and can be fun. Get started early on it and be systematic about keeping track of the people, information about them, and the frequency with which you contact them. Be prepare
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
d however to help those in your network too. To build a thriving network the communications and support has to go both ways!
Take Action:
1. Make a list of people you know and who you
Take Action:
1. Make a list of people you know and who you
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ant to remain in touch with. Select someone you haven’t spoken to in a while and make the connection.
2. Call your college or graduate school alumni office for names and telephone numbe
2. Call your college or graduate school alumni office for names and telephone numbe
.
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
rs of people in a field you are exploring. Call one of the names on the list.
3. Find a way to track your contacts. A spread sheet or contact management software are two ways to manage t
3. Find a way to track your contacts. A spread sheet or contact management software are two ways to manage t
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
is information.
4.To keep track of your contacts personal information take a look at the 66 questions that Harvey MacKay suggests in Swim With The Sharks Without Being Eaten Alive
4.To keep track of your contacts personal information take a look at the 66 questions that Harvey MacKay suggests in Swim With The Sharks Without Being Eaten Alive
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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