Advice You - Business

You approach a stranger at an association meeting or industry conference with you arm outstretched and say: “Hi. My name is…..” And you’re off and running.

There’s an art to successful networking and business development. Rath

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

er than just exchange pleasantries you can gather information, gain allies, and explore potential opportunities. Here are ten tips to help you connect with people immediately, develop meaningful conversations and move on to profi

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

Examples of combination products may in

table relationships.

Come prepared. Have two or three openers that you can use with a variety of people you meet. That way, you won’t fumble for something to say when you first meet someone. Some examples: “What

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

drew you here today? “Have you seen any good movies lately?” “What did you find particularly interesting about the presentation?”

Do your homework. Before attending a meeting or networking event, find out the nam

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

es and backgrounds of key people who will be there. Also note any recent achievements that they have attained. When you arrive, look for someone official and request an introduction to one of them. Offer your congratulations and

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

Combination pro

ask a question that will get them talking about their background or achievement.

Create an agenda. People often dread small talk situations because they say, “I don’t have anything to talk about” or “I don’t know

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

what to talk about.” Actually the problem is that there have too much to talk about—an entire universe of topics—not nothing to say. Narrow down your conversation options by making two lists.

On the get list put what

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

you want to find, understand or learn more about. Maybe it’s connections into xyz company, or where to get inexpensive office supplies, or recommendation for the best Mexican restaurant in town.

On your give list put your

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

ideas, areas of expertise, hobbies, people you know, ideas for weekend jaunts with kids, your experience on developing a company website or a great article on bringing down the cost of doing business, etc.

Going into a room with a

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

prepared agenda---information you want to get and information you are happy to give---provides a focus for your networking and a direction for your conversations.

Enter a room confidently. Next time you’re at a social

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

or business gathering, notice how people come into a room. Do they come in head high, smiling, and upbeat or eyes down, serious and scared? Are they sending out signals that say: “I’m approachable” or “Don’t talk to me.” When y

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

Following aspects would a

ou enter a room, what signals do you send out to others?

Listen and learn. Once you’ve asked your opening question, listen patiently to the person’s answer. Allow the speaker to elaborate without rushing to jump

dd to the challenges in developing combination products:

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

n. Be thinking, “What can I give to this person? What’s on my agenda?”

Focus your attention. Avoid the canned nod-and-smile approach with eyes roaming the room to see who else is there. Continue to ask engaging

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

questions. If you’re friendly and genuinely curious, others will feel comfortable talking with you.

Find common ground. Only after the person has told “his story”, then share your thoughts and experiences. If y

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

u find something you both can relate to, that establishes a bond that can lead to further exchanges. Be open to the magic of where the conversation can take you.

Ask for their help. Most people enjoy helping othe

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

rs. Therefore what is it that you want to “get”? Use your agenda to find someone who has written an article you’ve enjoyed, or can introduce you to the speaker, or give you ideas for your upcoming project.

Show appre

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

Professional from academic institutions, pharmaceutical industries, health care indust

iation. At some point, you will feel that it’s time to move on because the discussion is winding down or perhaps the event is starting. Don’t leave abruptly. Rather, acknowledge the conversation and the help you’ve received.

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

“It's been good to talk with you. Thanks for the job lead. I plan to call him tomorrow.” Or, “Glad to have met you and to hear about the upcoming conference.”

Explain the next step. If you want to continue the r

.

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

lationship, conclude with what you're going to do next or what you expect of the other person.

“I'll send you that article tomorrow.”
“I'll see you at the next meeting.”
“Let’s set up a time when we can get together to g

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

Companies that provide selfless information through particip

o over the program.” Preparation, a focused agenda, active listening, and an adventuresome attitude are the keys to successfully meeting and greeting a roomful of strangers. Remember, nothing ventured, nothing gained

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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Advice You - Building Business Relationships in a Roomful of Strangers

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