Advice You - Business

Think about the people you help in your business. Where do they congregate, where c

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

an you find them? For instance, I work with small business owners who want to get m

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

Examples of combination products may in

re clients. A place this group frequently visits is bank offices to take care of fi

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

nancial transactions and to discuss specific issues with banking officers.

Every t

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

me I visit a bank I sit in the waiting area and read one of my brochures. When an o

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

Combination pro

fficer is ready for me, I place my brochure on the table with all the other reading

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

material. I figure I'm providing a service for the bank by providing materials for

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

their customers for free. Sometimes I visit other banks and read my literature. If

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

banking officer approaches me, I simply tell him I’m waiting on a friend. Then I l

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

eave my literature on the table.

So, think about where your prospects gather. Can

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

ou leave a card or brochure or sales sheet?

By the way, it is very easy to track y

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

Following aspects would a

ur leads with this system. When you leave a brochure or card, always write a code o

dd to the challenges in developing combination products:

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

r department number on them, and record that information. When you are contacted by

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

someone, you can ask about the code and determine which location it came from. Obvi

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

ously this assists you in determining which locations are producing results and whi

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

h are not.

This method of marketing certainly shouldn't be your only method of gen

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

Professional from academic institutions, pharmaceutical industries, health care indust

erating prospects. Clearly it will not produce large numbers of prospects. But it w

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

ll produce results far beyond the small cost. I have gotten several calls over the

.

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

years from this activity.

Consider out-of-the-ordinary places for your literature,

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

Companies that provide selfless information through particip

anywhere your prospects might be. I guarantee you won’t find your competitors there

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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Advice You - Marketing in Strategic Locations: Leave Your Literature Where Your Competitors Aren't

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