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Advice You - Give Your Business An Oscar Moment
As the dust settles on the glitz and glamour of the world’s most famous award ceremony, the Academy Awards, months of planning and preparation are over for another year. And whilst nothing is left to chanc
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
e on the night of the Oscars, the same preparation needs to be made when entering your company, product or service for an award.
Even though most business award ceremonies lack the same glamour as the Osca
Even though most business award ceremonies lack the same glamour as the Osca
; 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
s, being nominated or even winning an award can propel your business in the most amazing ways.
You will benefit from increased sales, wide spread credibility, extra valuable exposure within the business co
You will benefit from increased sales, wide spread credibility, extra valuable exposure within the business co
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
munity and the media, boosts in employee motivation and increased levels of traffic to your website. Even if you don’t win, simply participating could open doors you didn’t even know existed.
Preparing Yo
Preparing Yo
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
r Entry
Entering an award is something you should not go into lightly. It requires a wholehearted approach and a tremendous amount of work. In the first instance, you should set out a clear strategy for
Entering an award is something you should not go into lightly. It requires a wholehearted approach and a tremendous amount of work. In the first instance, you should set out a clear strategy for
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
winning the award, and be clear on what’s required and who is managing each component.
A good understanding of the judging criteria will help you shape your entry and recognise the parts that need extra em
A good understanding of the judging criteria will help you shape your entry and recognise the parts that need extra em
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
hasis. Be sure to meet the judging criteria as clearly as possible and stick to the point. If it’s a requirement to submit 500 words on why your business should win the award, make sure you don’t go over
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
he word limit and communicate clearly.
Equally important is the quality of the entry itself. You need to present your company in the best possible way whilst at the same time make sure it stands out from
Equally important is the quality of the entry itself. You need to present your company in the best possible way whilst at the same time make sure it stands out from
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
our fellow competitors. The best practice is to make it simple. Judges should be able to see immediately that you meet the judging criteria and should not have to wade through tonnes of supporting documen
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
tation to find it.
There are some golden rules to remember when entering:
• Enter the award that you want to win
• Set out a clear strategy for winning the award and assign tasks
• Understand th
There are some golden rules to remember when entering:
• Enter the award that you want to win
• Set out a clear strategy for winning the award and assign tasks
• Understand th
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
judging criteria
• Make sure your entry meets the requirements of the awards
• Look at your competition and try to counteract their strengths
• Speak to previous winners about their entries<
• Make sure your entry meets the requirements of the awards
• Look at your competition and try to counteract their strengths
• Speak to previous winners about their entries<
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
r>
• Explain to the judges how you will publicise your win
• Don’t forget the deadline
Raising Your Profile
Just as film directors don’t let their films speak for themselves, you too can do more th
• Don’t forget the deadline
Raising Your Profile
Just as film directors don’t let their films speak for themselves, you too can do more th
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
n simply hand in your entry form and cross your fingers.
Getting involved with industry bodies will give your company presence and your products publicity within the business community – which typically in
Getting involved with industry bodies will give your company presence and your products publicity within the business community – which typically in
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
clude potential judges of the awards.
Viral marketing can also help increase your chances of winning. An email reminding your customers and contacts who you are and why they should vote for you is often a
Viral marketing can also help increase your chances of winning. An email reminding your customers and contacts who you are and why they should vote for you is often a
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
ood idea as well.
Stepping up your PR activities to increase exposure around your company, product or brand can be just as important as the way you enter. If the judges have heard of you or the product or
Stepping up your PR activities to increase exposure around your company, product or brand can be just as important as the way you enter. If the judges have heard of you or the product or
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
service you are entering before it gets in front of them, they will be more inclined to take your entry seriously.
What To Do When You Win
Award wins are great because they provide incredible recognition
What To Do When You Win
Award wins are great because they provide incredible recognition
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
nd credibility for your business. Once the celebrations from the award ceremony have worn off, you must immediately get to work, letting everyone know that you have won an award and leveraging the win as m
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
uch as possible.
Some activities you should do include;
• Issuing a press release to all relevant media in your industry
• Direct Mail campaign to your customers announcing the win
• Incl
Some activities you should do include;
• Issuing a press release to all relevant media in your industry
• Direct Mail campaign to your customers announcing the win
• Incl
.
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
de the award logo on your email signature, business letterhead, web site and signage
• Host a party with your staff and customers to celebrate the win
• Attach the words "Award winning" to any
• Host a party with your staff and customers to celebrate the win
• Attach the words "Award winning" to any
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
marketing collateral you develop
• Hold a "We're a winner sale"
Give your business its Oscar moment by following the above tips when you enter your next awards competition. Good luck with your entry
• Hold a "We're a winner sale"
Give your business its Oscar moment by following the above tips when you enter your next awards competition. Good luck with your entry
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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