Advice You - Business

Many business people get stuck in the networking situation of being cornered by people who talk and talk and talk

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

about themselves. Those people also take a hard sell approach, working diligently to convince you to buy from t

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

Examples of combination products may in

hem even if what they are selling is nothing you want or need. It would seem that there is no way out of the sit

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

uation. You are doomed to being bored until this person moves on to their next victim.

A good friend is an acco

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

mplished networker, knowing that really it’s all about the person he meets. Realizing that his job is to find ou

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

Combination pro

t as much as he can about new acquaintances, David uses a uniform set of questions to gain important information.

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

He says, “Using this method makes networking very easy because I don’t have to do much talking, but instead ask

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

a few questions and then listen and take notes. What I hadn’t considered was that I could use this formula to a

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

ctually stop the boring people in their tracks. Even though I’m asking them to talk about themselves…something t

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

hey do very well, I am controlling what they talk about with the types of questions I ask.

He continues, “Recent

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

ly, I found myself in one of those situations where I was cornered not by one person but by two. I was being tag

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

Following aspects would a

-teamed.. I could have just sat there and gritted my teeth, but I began directing the conversation by asking que

dd to the challenges in developing combination products:

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

stions about the two offenders. One great question I use is, ‘What sort of goals do you have for your company or

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

your career in the next year or so?’ Before long, they forgot that they were trying to sell me something and in

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

stead relaxed and began asking questions back to me. I had neutralized their attack! I’m sure they have no idea

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

what happened that day, but I do. Actually, I found both to be very interesting people; people who probably ha

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

Professional from academic institutions, pharmaceutical industries, health care indust

d been given some very bad sales training.”

This young businessman is teaching us a several lessons. We all kno

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

w that the hard sell approach doesn’t work when someone is using it on us. We must be sure to never use it on 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

meone else. The second enlightenment is that by asking well chosen questions about the bore will re-direct the c

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

Companies that provide selfless information through particip

onversation, giving you some control, where previously you felt you had none. It makes networking a lot more fun

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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Success in corporations today is more challenging than ever with downsizing, bankrupcies, out-sourcing, de-layering and globalization. There are nine steps that new employees of any age can take to maximize their opportunites for corporate success. This article outline each of those nine steps based on over twenty-five year of corporate experience.

Here's a fun way to help you achieve your goals that really works. Plus it's a little more exciting than just writing down a few goals in your marketing plan. This method actually brings them to life, and puts them in front of you everyday so you're constantly focused on making them happen.

Creating and implementing a marketing plan is the key to the long-term success of your small business.

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