Advice You - Business

If you own a small business no doubt you have either thought of or

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

been approached by someone offering to do sales for you. Generally

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

Examples of combination products may in

these folks will work for commission and expenses and sometimes lan

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

your company some big deals. Of course you know that they will be

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

representing your company and they need a little bit of knowledge a

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

Combination pro

out how it all works, what your services can or cannot do and the l

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

imitations and uses for your products and any warranties you offer.

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

Next comes the tricky part, settling on a price or commission and

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

terms. This of course is all about negotiation and chances are the

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

alesman has better negotiation skills than you, but remember he has

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

no costs and you have all the burden when he makes a sale. So, the

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

Following aspects would a

commission split needs to consider this as you will be giving away

dd to the challenges in developing combination products:

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

some of what would be your normal profit to him.

Additionally, the

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

best bet is to have a commission graduation scale, the more he sel

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

s the more percentage he gets in the future, think of it as golden

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

handcuffs so he is also on the line for future sales and can make g

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

Professional from academic institutions, pharmaceutical industries, health care indust

od on all these referrals. Also you might consider a future commiss

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

ion strategy half now and half at the end, this way you are not pay

.

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

ng commissions before your receivables. So when negotiated with out

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

Companies that provide selfless information through particip

side salespeople for your company, please consider all this in 2006

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 - Negotiating With Outside Sales People

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