Advice You - Business

It creates some negotiating room, and you might just get what you’re asking for.

Whe

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

ther playing the role of buyer or seller in a sales transaction, asking for more than

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

Examples of combination products may in

you expect to get is a classic opening position in negotiations.

In the audio book,

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

“Sound Advice on Negotiating Skills,” author Roger Dawson says, “Henry Kissinger call

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

d this the key to success at the bargaining table.” It’s simple, notes Dawson, but t

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

Combination pro

here are many profound reasons for doing it.

“It creates some negotiating room that

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

akes it easier to get what you really want,” says Dawson. “It creates a climate wher

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

e the other person can have a win with you.” This climate can prevent negotiating de

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

dlocks, especially when dealing with an egotistical negotiator, according to Dawson.

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

“When you’re selling, it raises the perceived value of your product or service,” say

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

Dawson. However, some salespeople are so eager to reach agreement that they soften

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

Following aspects would a

heir opening negotiating position. “They hope that by doing this the client will app

dd to the challenges in developing combination products:

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

reciate how generous they’ve been,” says Dawson. “The danger in this is that the cli

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

nt may instead think, ‘If they’ve given us this much, we can get a lot more; let’s be

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

tough negotiators.’”

The solution, says Dawson – a renowned speaker and author of 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

e book, “Secrets of Power Negotiating for Salespeople” – is to “ask for more than you

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

Professional from academic institutions, pharmaceutical industries, health care indust

expect to get, but imply some flexibility so that you can encourage them to negotiat

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

with you.”

Roger Dawson offers negotiating skills advice each week in the free audi

.

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

o newsletter from What’s Working in Biz, elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ry.asp?ArtID=92" target="_new">http://www.whatsworking.biz/full_story.asp?ArtID=92

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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Imagine your favorite little retail shop. Think of how many people come in and out of that business establishment in an hour. Now think of the number of people that look at the shop?s products. Take into consideration the variety of products they buy, as well as the amounts they buy.

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Advice You - Negotiating Skills: Ask For More Than You Expect To Get

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