Advice You - Business

Many people (maybe you?) don’t consider they have enough time for Networking. Is this really the case?

You had been scheduled to attend a Networking ev

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

ent at the local business club this Wednesday evening, but by the time Wednesday came around you found they had urgent work back at the office to catch

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

Examples of combination products may in

up on.

Two things to note here. Networking needs to be given a higher priority: it probably would have been possible to have made the meeting IF you re

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

lly wanted.

Secondly, Networking should not be considered something you only do on an occasionally basis. You need to give attention to Networking at e

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

very opportunity you have.

To be honest, you are probably networking more often than you give yourself credit for. Earlier that day you had spoken to t

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

Combination pro

e plumber about work that needed doing in the office kitchen. Because you’ll need some plasterwork done afterwards you asked the plumber if he could rec

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

ommend anyone to handle the plastering. That is networking.

A few hours later you received an email from a guy you had met at a conference four months

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

go. He remembered you mentioned the business that you are involved in, and as it happens, he needs an urgent printing job to be given special priority.

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

Can you help? It will mean that you have to delay another less urgent job, but you’ll make a point of giving his request special attention. Again, tha

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

is Networking.

So you see, your business is probably networking more often than you might immediately be aware. You simply consider this networking to

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

be part of your everyday business activities. Now that you can see this is networking, then it is worth thinking how you can maximize the benefits.

Fo

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

Following aspects would a

r instance, when the plasterer comes to give a quote, mention that the plumber had given a special recommendation, and had hinted that the quote would be

dd to the challenges in developing combination products:

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

reasonable. It is quite possible that the quote will be just a bit lower than it would otherwise been, and the plasterer will make sure she does a reall

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

y good job.

Similarly it will be worth staying in touch with the guy for whom you handled the urgent printing job. He’ll be grateful to you for helping

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

him out in his ‘hour of need’, and if you have a particular requirement from his business at any time then it is likely you’ll be given special attention

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

.

How can you network more effectively on a daily basis? What information do you have readily accessible that others would appreciate learning? Who do

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

Professional from academic institutions, pharmaceutical industries, health care indust

you know who you would happily recommend? Are there local businesses which you can contact to arrange special deals?

Similarly, it is likely that other

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

businesses can help you. Don’t hesitate to make a special request, providing that you are prepared to reciprocate the benefit. You’ll find that people

.

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

often derive particular satisfaction from helping others, and hopefully this applies to yourself as well. And, apart from anything else, it’s good for b

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

Companies that provide selfless information through particip

usiness!

So, even if you genuinely can’t make it along to that Wednesday evening event, don’t let this stop you networking whenever and wherever you can

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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