Advice You - Business

* What is their business vision?

* What are their 3-5 key goals over the next 3 years?

* Where do they want to take their businesses? Grow and e

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

xpand? Sell? Merge? Consolidate?

AND

Why should you know and care?

Here are 3 reasons

Your current clients offer future opportunitie

; 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

You’ve already done business with them. They know you and you know them. There might be potential for further business – if not now, then p

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

erhaps over the next 1-3 years. If you know their plans and know what challenges, opportunities and aspirations they have you can offer to help th

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

m develop those plans and achieve their future objectives.

This may be in the form of actual business or it could simply be by connecting them wi

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

Combination pro

th other suppliers, mentors or consultants that can help them. If you put their needs first under the “pay it forward” principle you are more like

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

ly to be the one they call when then have a need that you can specifically help with within your speciality.

“If you know what they need, you

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

can plant the seed”

Foresight is Fore planned

If, for example you are an HR consultant and you know that one of your key clients has

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

lans to double their workforce as a result of increased production due to the opening of a new facility, you can help them by preplanning the whol

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 recruitment, selection, induction and training process. The benefit to them is that they have the right people with the right skills and knowled

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

ge, correctly inducted and trained in place in good time for the launch.

“Consult in advance and be part of the dance”

Your pipeline w

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

Following aspects would a

ill have a steady flow

One of the constant challenges you face as a consultant is that of a steady pipeline of “ideal” business. By working w

dd to the challenges in developing combination products:

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

th your current clients to plan their next 1-3 years you can potentially increase the flow of work into your consultancy.

Imagine you are an IT i

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

mplementation Consultant and you know that within the next 12 months your number one client will be implementing a new PC software rollout, changi

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

ng the way they manage their online sales and are moving premises, you could potentially have 1, 2 or 3 pieces of work or 1 big integration projec

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

t.

By working with your current ideal clients you can help them plan and manage their implementation and your pipeline too.

“A steady flow wi

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

Professional from academic institutions, pharmaceutical industries, health care indust

l help you grow”

Gaining new clients is always a key activity for consultants and optimising the relationship you have with your current clie

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

nts is also important.

Keep in touch, meet with key people at various levels within the organisation, and research your clients market and trends

.

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

. Do this when you have work with them and when you don’t. They will trust you more and hopefully share more when they know you have their longer

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

Companies that provide selfless information through particip

term interests at heart and are not just out for the short term buck!

Go One Step Further for your clients and you go One Step Further too.

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 - What Plans Do Your Clients Have?

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