Advice You - Business

Yesterday, out of the blue, I got a call from some salesman in Michigan. Nice guy, I enjoyed the chatter. He was friendly enough, listened

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

to me blather when I thought it was someone else, and even laughed at the noisy background in my office – since I work from home. As the co

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

Examples of combination products may in

nversation went on, he was promising me the moon, and giving me a “curiosity pitch”.

Now, I grew up on Amway, and I don’t mind telling you

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

I sold soap, I bought groceries with money earned from selling soap, and I sponsored people into the business to ‘sell soap’. It wasn’t a

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

secret, and I didn’t have a problem telling my friends I had available the best soap on the market. It irritated the daylights out of me w

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

Combination pro

en some new guy on the block came in and started talking to my people using the ‘curiosity approach’.

The salesman from Michigan wasn’t se

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

lling soap, but his lame curiosity approach hit me like a load of bricks. I made the phone call out of curiosity, but at no point during th

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

call was I interested in purchasing his product, and particularly NOT when I found out I would be lining his pocket with $1,000 while purc

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

hasing a product for $1,499 to learn how to ‘pull in a candidate’ and line my own pocket with a $1,000 sale. Uhhh… something wrong here? Be

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

ore my prospect has made a dime, I just ripped him for a thousand dollars. There’s a better way.

Whatever product I sell, whether it be s

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

oap, Amway still makes the best laundry products in the world, or some other product, my objective is NOT to make a mint on a few customers

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

Following aspects would a

, but rather to provide a quality product at a reasonable price and show my client how to do the same thing. If my prospect is interested i

dd to the challenges in developing combination products:

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

making money, I will show him how to have confidence in the product and sell the product, outright.

Curiosity has an appeal, but I believ

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

e it makes more enemies than friends. If you have a product you are proud of – what are you waiting for? TELL The World!

If you can’t make

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

your millions selling your product at a reasonable price, I can assure you, you won’t make them a thousand dollars at a whack. Oh, sure you

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

may make a few thousand – may even make a million once. But how many thousand people do you really think are out there that will buy into

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

Professional from academic institutions, pharmaceutical industries, health care indust

the same game plan?

Be reasonable, sell your product for reasonable prices, have some quality in the package, and make a reasonable profit

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

. Once the word gets out, you’ll sell more. And each person didn’t have to come up with a week’s salary (or more) to buy into your game pla

.

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

.

Yes, you can make a million dollars on the phone. You can do it one call at a time, or you can do it with conference calling features. M

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

Companies that provide selfless information through particip

y point is – do it in a way that builds integrity. Don’t use the curiosity approach to ad-nauseum; you’ll kill more prospects than you sell

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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With the growth of the CeMAP training industry there is an increasing number of training courses available. This article provides a comparison of the different methods employed by CeMAP Training courses with emphasis on Home Study versus classroom based crash courses.

When asked to write a small piece pertaining to ethics and integrity in the business world, my first inclination was to draw on personal experience. Everyone has bad experiences to relate. We deal...

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