Advice You - Business

Here it is, another social event in the form of a party to celebrate the time of year or a special e

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

vent in someone's life. There are a dozen or more people in the room, many of whom you already know

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

Examples of combination products may in

nd some you know and some you do not. The introductions are abundant when the circles of people star

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

talking and laughing.

"Have you met ... yet?"

"No, I haven't."

"Well th

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

is is .... and he is married to ... and works at ...!"

"Wow, it is great to meet you! Did y

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

Combination pro

u know that my company does work in your industry? Maybe we can chat later."

And so it goes

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

as you meet new people. The talk, even though social, always turns to business and what is happening

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

in the local economy. So how can you network and find nuggets of business at these events?

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

First Listen intently to people when they talk about their business to pick up potential talk

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

ng points when you are in a conversation with them later on.

Second When in a one on

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

one conversation, ask questions and ALWAYS wait for the answer before moving on to the next conversa

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

Following aspects would a

tion. Many people will ask questions then there is an interruption and the conversation ends without

dd to the challenges in developing combination products:

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

waiting for the answer. Do not let interruptions end the conversation prematurely as your likelihood

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

of getting any business afterwards are drastically diminished. People do not forget no matter what y

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

ou think.

Last Never steer the conversation about what you do as most people are o

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

ly interested in what they do and the well being of their family. Be aware of everyone else and leav

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

Professional from academic institutions, pharmaceutical industries, health care indust

yourself out of the conversation. If asked a question, turn the question so the asker actually answ

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

ers for their own situation.

No matter what you decide to do in social situations, if you s

.

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

mply listen you will learn a lot about the people you may eventually do business with in the future.

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

Companies that provide selfless information through particip

The more you know about them, the more likely you will be able to form a great business relationship

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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