Advice You - Business

Social networking has been hot for some time with sites such as MySpace, Facebook, and Friendster attracting a lot of visitors and interaction that has attracted the attention of larger companies looking to expand their product offering

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

s along with boosting revenue growth. The business community has some good sites dedicated to helping business executives connect online as well.

LinkedIn is one of several online networking sites aimed squarely at the business commun

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

Examples of combination products may in

ty. Others include Ryze, Spoke, Tribe.net, and Xing (formerly OpenBC). This particular site is very powerful if you invest a little time into it, and I would imagine it has massive potential to help you in your career or business. Havi

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

g a vast network of contacts never hurts regardless of how successful you are at this moment. I choose to focus on LinkedIn due to its membership (more than 10 million people) and its easy to use interface, but I am not affiliated in a

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 way with any of the services mentioned.

Here’s an example of the power of networking based on my own experience using this tool thus far. I joined LinkedIn on Thursday January 4, 2007. Since then my network looks like this: 149 dire

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

Combination pro

t connections, 109,500+ friends of friends (two degrees away), and 2,830,900+ contacts three degrees away.

That’s a lot of potential reach! I only wish I had discovered this tool when I was in technical sales. Oh well, better late than

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

never right? Some of the contacts I have made have led to partnerships, but the primary benefit has been the relationships built that have enabled me to bounce ideas off like minded folks, receive real world advice from people in simil

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

ar situations, and expand the potential reach of my consulting business without investing a lot of money into marketing and advertising.

So, how would one go about expanding their network and reach rather quickly?

1. Upload your conta

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

ts from Outlook or your e-mail software. Let LinkedIn search their database to see if any of your contacts exist and invite those people to join your network.

2. Visit http://www.toplinked.com and browse over some of the top linked fo

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

ks. If you see some that mesh well with your goals and objectives, send them an invitation or direct e-mail to join your network. Most people will do this if you ask politely.

3. Browse over the LinkedIn Q&A section to see if there are

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

people looking to expand their network and e-mail those which reply.

4. Consider adding a link to your profile via your e-mail signature. LinkedIn can provide you a nice signature box with a lot of contact information to include in you

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

Following aspects would a

outgoing e-mails. Go to My Profile --> E-mail signatures to set one up.

5. Promote your profile on your blog or website.

6. Ask a public question on LinkedIn under the answers tab and include in the question your e-mail address so pe

dd to the challenges in developing combination products:

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

ple can expand their network if they’re interested.

7. Post a public invitation, including your e-mail address, asking for others to share theirs much like step #3.

8. Include your e-mail address in your profile on LinkedIn. That way

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

eople actively searching for networking prospects can connect directly with you.

9. When you post a comment or reply on message boards, blogs, or user groups, include a link to your profile. Or link back to your website or blog (this i

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

s a common search engine optimization trick).

10. Lastly, be easy to access! If you want to be able to connect to a lot of people, now or in the future, think like those people would think and make it easy for them to connect with you.

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

That’s networking 101, but it still applies.

There are some people that do not wish to expand their network because of their current job situation or fear of the Internet. I understand. Yes, it is a risk to post your public e-mail addr

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

Professional from academic institutions, pharmaceutical industries, health care indust

ss out there because of spam, viruses, and whatnot, but I haven’t run into that being an issue thus far, and the various e-mail software clients are getting better and better at stripping bogus e-mails out. My contact information is rea

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

ily available on my business website, blog, outgoing e-mails, and on LinkedIn. I’m not hard to find if someone is really trying. Does that scare me? A little, but I figure if I’m going to be successful in my business, there are trade-of

.

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

s and risks involved that I just have to take. Since LinkedIn is free to use, why not take full advantage of it? It’s a great tool that can really improve one’s chances at success if utilized properly, and it can help eliminate cold cal

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

Companies that provide selfless information through particip

ing if your network is powerful and broad enough.

Hopefully this helps, and I hope you choose to expand your network and connect with some really interesting people out there. If I can help you in any way, please don’t hesitate to ask

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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