Advice You - Business

Over time, you'll want to provide information about your company to lots of different people, including employees, investors, existing and potential clients and the

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

media. Your company's success may depend in part upon how well you communicate that information--which in turn may depend upon how well you prepare collateral item

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

Examples of combination products may in

s ranging from company and product fact sheets to biographies of key employees.

Every business should always have the following eight items on hand, ready to distr

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

ibute. Get them printed today.

1. Company fact sheet.
Potential investors or employees, analysts and media people should be able to learn important facts abo

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

t your business with a quick look at your fact sheet. A company fact sheet should include the following information:
- Date the company was founded
- Wher

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

Combination pro

e it is headquartered and has affiliate offices
- Names and brief backgrounds of founders and upper-level management
- Contact information
- Brief mi

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

ssion statement

2. Product fact sheets.
Keep a fact sheet on file for each of your products or services. A product fact sheet should include the following:

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

> - The product's function
- Distinctive features
- Comparison to similar products on the market
- Quality level
- Reliability
- Cost

3

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

. Bios on founders and senior management.
Make sure you have a bio on hand for each founding member of the company, every senior manager and each member of th

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

e board of directors. Bios should include the person??1/2s education, relevant experience, awards or honors, and publications that featured the team member or the t

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

am member's work.

4. Mission statement.
A mission statement can motivate and direct employees and give new hires an idea of how your company works. You can a

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

Following aspects would a

lso show the statement to potential investors, lenders or members of the media.

5. Company background.
Whereas the company fact sheet essentially is just tha

dd to the challenges in developing combination products:

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

t-a list of facts-this document is written in paragraph form and should include more detail.

6. Current list of clients/partners.
This information may be int

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

eresting to investors or potential clients.

7. Press kit.
When you open your business or launch a new product, consider sending out a press kit. Press kits a

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

so can come in handy if you decide to pitch your business at a trade show. Your kit should include the following elements:
- Folder with your company's logo

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

> - Personalized letter pitching your company
- Company fact sheet
- Product fact sheet
- Press release
- Articles written about your company

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

Professional from academic institutions, pharmaceutical industries, health care indust

r> - Business card
- Company background

While you may want to keep a few press kits on hand, don't keep a giant stack of them around. Otherwise, you risk dis

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

ributing out-of-date materials. Instead, keep each element of the press kit in a computer file, and update as needed when you're distributing a new round of kits.

.

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

8. Clip file.
Make someone in your office responsible for collecting and maintaining any articles written about your company. Note: If you are thinking about

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

Companies that provide selfless information through particip

mounting a PR blitz, consider hiring a PR firm to track where press kits were sent, make sure they are received and then monitor the press for mentions of your firm

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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Merger And Acquisition Strategies

It is the inherent desire and need of every business to grow both vertically and horizontally. Organic growth, that is development from within, is often slow and sometimes difficult. That is why there is an increasing trend towards mergers and acquisitions. It could be called an instant expansion.

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Marketing Acceleration - Become an Expert to Reel 'Em In!

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