Advice You - Business

Anyone who has ever tried to write & distribute a press release may have despaired when it was not immediately picked up by the major media outlets and run,

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

24-7, on CNN, NBC, CBS, and Page One of the Wall Street Journal. What went wrong? Do reporters still read press releases, or do they select their stories i

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

Examples of combination products may in

n secret, cupcake-fueled meetings held in underground caves?

While searching for an answer, we happened to meet Richard Brandt, a veteran Business Week rep

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

orter who now consults with hi-tech entrepreneurs on how to talk to the business press. He's also writing a book about Google. As someone who spent more tha

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

15 years on the other side of the press release, Richard knows what reporters want--and don't want--from press-release-writing entrepreneurs. Following is

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

Combination pro

our summary of his advice.

1. Save the Spam for Breakfast
One of Brandt's pet peeves occurred when executives would call or e-mail him with a p

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

itch on a topic that fell completely outside of his beat. Entrepreneurs who came to him without any knowledge of his interests were treated with the same ig

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

orance with which they treated him. He avoided them. Ditto for spammed press releases.

So, how *do* you reach a stressed out journalist with an idea you th

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

ink will truly interest readers?

2. Change Thy Attitude, Grasshopper
Journalists are a lot like us. They respond to folks who have something of

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

value to offer and who are interested in long-term relationships. It follows that the best way to approach them is with with a spirit of giving. Rather tha

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

immediately asking a journalist to write about your company, offer her a tidbit of industry gossip or other useful insider information. When you change you

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

Following aspects would a

r attitude, you can't help but also change your approach. And your results.

Which leads us to research.

3. Do Your Homework
Search for relevan

dd to the challenges in developing combination products:

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

t articles in a niche magazine or other publication, and find the reporter who has covered that topic. Now, read the other articles that reporter has writte

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

n. When you've done your homework, you can approach reporters as someone who is genuinely interested in helping them. This simple step will position you lig

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

t years ahead of your competitors--including many PR agencies. You can't help but stand out.

4. Cultivate a Soulmate
If you happen to have any

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

insider information or connections, e-mail or call the reporter telling him you really enjoyed his article on X, and have some information on Y you think wo

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

Professional from academic institutions, pharmaceutical industries, health care indust

uld be of interest. Everyone likes to be appreciated, and it's particularly welcome after a day of spam & solicitations.

5. No Hit-and-Runs
Don

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

t expect to get instant coverage. Most people are offended by the idea of an immediate quid pro quo. Instead, focus on developing a long-term relationship w

.

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

ith your reporter in which you position yourself as an expert on her topic. And where you give more than you receive. This builds your credibility. When the

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

Companies that provide selfless information through particip

reporter is ready to write another story on this topic (or, when you're ready to write your next press release), your name will be on the tip of her tongue

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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One of the most common medical billing problems is forms printing. In this installment, we cover the most common problems and how to fix them.

Do you need a company brochure? The money and effort spent creating a company brochure may be better used on another marketing method. Ask yourself these four questions before adding a company brochure to your marketing budget.

Increase your bookings and you increase your sales and the number of recruits you have. By providing reasons to book throughout your demonstration you'll increase your bookings, sales, and how many recruits you have.

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Advice You - Is the Press Release Dead?

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