Advice You - Business

Do you struggle to find the time to network, while still keeping your business running

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

?

Well, the good news is that networking is not an "event". So you don't really have

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

Examples of combination products may in

o "find" the time to do it.

Most of us network everyday as a natural part of life.

F

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

r instance, if you need to find an accountant or a financial advisor, you would probab

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

y turn to someone you know for a referral or advice on how to select one.

The same ap

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

Combination pro

proach can be used in the professional context.

Let’s say you‘re interested in public

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

speaking opportunities so you can increase the visibility of your business. Your netwo

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

king objective is to find out how to get selected as a speaker at conferences.

So whe

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

a client tells you how well her recent presentation at XYZ conference went, you immed

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

iately seize the opportunity. You ask her about the conference, how she was selected a

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

a speaker, her experience as a presenter -- and you're off and running!

You'll notic

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

Following aspects would a

that this way of networking doesn't take up any "extra" time.

There are also some ot

dd to the challenges in developing combination products:

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

er advantages to this approach:

It’s timely – you reach out for help when y

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

ou need it.

It’s focused – you know what you want and that’s what you ask fo

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

It’s natural – since this is probably what you do in your personal life ev

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

ryday, using a similar approach for professional reasons is not a big leap.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Note, however, that this approach assumes you're clear about your networking objecti

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

ve -- which of course can and does vary based on what's going on in your business.

So

.

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

first get clear on why you're networking: What exactly do you want? And, who might be

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

Companies that provide selfless information through particip

ble to help you?

Then try this approach. I think you'll be delighted with the results

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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Sure, you can pay web designers, copy writers, and SEO/SEM firms ten of thousands of dollars to do all of this for you. However, at the end of the day, it's your business, not theirs. It's ultimately up to you to be an expert at your own game, business model, product line, and brand!

Change Management situations can occur anywhere and sometimes they create situations that are so serious that they indeed could threaten national security. For instance take an upper management change in the public sector such as within the top ranks of the computer and cyber security division of Department of Homeland Security for instance.

Are you trying to build your list with someone else's products? You can do that, but it's so much easier when you create your own product and viralize your own work to bring back the most business to your account. Let's talk about the way you bring traffic to your account and what that traffic does.

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