Advice You - Business

There is enough to do in a negotiation so whatever you can prepare beforehand will help you achieve g

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

reater success. Getting some information about your competitors/clients prior to your negotiation wil

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

Examples of combination products may in

l gain you a fantastic advantage. The surface (like an iceberg) is only a tiny fragment of what lies

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

beneath!! Here are a few ideas: -

1. The Internet is a wonderful tool – So much information i

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

s available via the net from company reports to blogs giving you some valuable insight. Use this not

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

Combination pro

only to find out about your client but also about their competitors. Use the great search engines (Go

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

ogle, MSN and Yahoo) to do your digging.

2. Trade Magazines – These can often give away hidde

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

n gems from the obvious marketing strategies to snippets of information that can help you get to know

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

your clients better (from business angles as well as often social).

3. Use your network of frien

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

ds – It’s amazing as to whom you know and how they may be of help. Look at your list of friends a

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

d associates and see how they can help. So often when I’ve said this, people have initially said ‘I k

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

Following aspects would a

now no-one’ however as we probed deeper it’s amazing who comes out of the woodwork!!

4. Get their

dd to the challenges in developing combination products:

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

media/company pack – Most of the larger organisations have prepared packs to send out. Although

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

these will invariably be spun to be positive, an insight into them and their mission statement can of

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

ten be really helpful.

5. Speak to their customers – You may even be one yourself!! What do t

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

hey like about them? What don’t they like? What could be better? How can you use this information to

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

Professional from academic institutions, pharmaceutical industries, health care indust

your advantage in the negotiation?

6. Speak to their competitors – They can really give you s

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

ome information that company reports don’t but again treat it from the perspective that they may have

.

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

an ulterior motive!!!

7. Ask them!!! - If you don’t ask you won’t get. Although you may find

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

Companies that provide selfless information through particip

this alien, so many people will give you some great information you never thought they would divulge

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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An effective negotiation is not just about making people see things from your point of view, but it is also about converging two different views to a point that is perceived by both parties as mutually beneficial. The art of negotiating is the backbone of a successful sales campaign.

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