Advice You - Business

There are only three ways to get more business or more revenue: you can get more clients, you can se

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

ll to your clients more often with more products or services and you can increase your fees or price

; 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.

Now it may be the introvert in me yet I think there is one key reason so many people in sales ar

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

not at the top of their game, whether employees or independent professionals. It’s is because of co

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

nfusing sales with marketing and vice versa, there’s not a foundation on which to sell successfully.

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

Combination pro

Marketing leads selling with finding out about what your customer needs, promotional messages and o

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

verall being strategic about informing customers what you offer.

Have you ever been to a networking

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

event where shortly after you ask of someone, "And what do you do?" the start going into a sales pit

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

ch? Then they keep on going even if your eyes are glazed over?

This usually is ego on steroids.

It

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

makes me cringe. Networking is not the place to be selling. Networking’s best approach is to find ou

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

t what you can about who you are talking with. That’s called, marketing research.

Selling is being

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

Following aspects would a

other focused after you know what they want. In other words it’s about the potential customer, not w

dd to the challenges in developing combination products:

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

at you do or have. Being naturally comfortable to talk a good deal about myself, my real strength is

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

first listening to what others say. Of course, sometimes I do get whisked away into yap, yap, yap a

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

out me, me, me. It’s easy after so many years of selling under extrovert rules. But, I generally cut

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

myself within seconds of hearing it go on.

Why is this important?

If you want your selling to be

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

Professional from academic institutions, pharmaceutical industries, health care indust

ore successful, your marketing has to let your prospects know that you know them.

There are at leas

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

t five ways to let your marketing open the door to selling for you.

For now know the distinction be

.

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

ween sales and marketing. Think of them as separate but equal: without effective marketing, the sale

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

Companies that provide selfless information through particip

s don't happen. Until you focus on the buyer, how can you know what you need to talk with them about

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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