Advice You - Business

If you haven’t considered sending out a press release, you have yet to consider all your advertising options. Out of all the advertising options you have, sending out a press release that can

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

be picked up by all the major and local newspapers, is the most cost-effective form of advertising. It reaches out to more than just web browsers. Are you willing to tell the community the

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

Examples of combination products may in

oods things going on with your business?

With a well-written press release, you can have the local and national press calling to find out more about your business, tell their readership abou

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

your products and services, and introduce you to new customers. If the press release is engaging enough, they will print it as written and not take out anything that you want prospects and

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

heir readership to know about the latest happenings of your business.

For start-ups, a press release is a must. This is a critical time for your business. You have to let people know that yo

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

Combination pro

’re out their, where to find you, and why they should look you up. Without any exposure, you run the risk of finding the same fate that most small businesses run into in their first three ye

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

ars of business. They close the doors or shut down the website.

Maybe, you didn’t know that you could get this kind of exposure. Now, you know. The next step is figuring out how to write a

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

ress release. There is a standard form for writing press releases, but we’ll get to that later.

It’s much more important to write well and compel reporters to pick up the phone. It’s dire

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

hat an editor wants to know more or print your press release as it is written. So, give them something juicy.

What do I Write?

When I write press releases for my clients, I interview them firs

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

. I craft my questions based on the industry that they are in. I look for differences in my client’s products and services and his competitors products and services that might stand out. I

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

want to emphasize these things. Also, I request testimonials from customers they’ve done business with to get an idea of past customer experiences and also searching for someone else who mig

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

Following aspects would a

ht like to be interviewed for the release. There’s a story somewhere in your business dealings, all you have to do is find it.

Once you found it, then you have to write it. Find the angle.

dd to the challenges in developing combination products:

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

hat is your niche in the market right now. What events are you sponsoring in the future that you want to announce? What makes you special? What makes your products and services special? A

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

d don’t forget your press release cannot be written as a blatant advertisement. If it is, it will most likely be ignored. Remember, information sells.

Now What's the Format Requirements?

FO

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

IMMEDIATE RELEASE: These words should appear in the upper left-hand margin, just under your letterhead with every letter capitalized.

Contact Information: Skip a line or two after release s

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

atement and list the name, title, telephone and fax numbers of your company spokesperson. It is important to give a number where you can be reached at any time since reporters often work on

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

Professional from academic institutions, pharmaceutical industries, health care indust

deadlines and may not be available until after hours.

Headline: Skip two lines after your Contact information and use a boldface type.

Dateline: This should be the city your press release is

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

issued from and the date you are mailing your release.

Lead Paragraph: Consider this the first and only jab you will be able to throw in the marketing press release title bout. Make it count

.

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

The first paragraph needs to grasp the reader's attention and should contain the relevant information to your message such as the five W's (who, what, when, where, why).

Text: The main bod

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

Companies that provide selfless information through particip

of your press release where your message should fully develop.

Recap: At the lower left hand corner of your last page restate your product's specifications, highlight a product release date

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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A limited liability corporation is a separate corporate business unit that has a separate legal structure. Although it incorporates many features of partnership and corporation, it cannot be considered similar to either. The unique set of advantages it offers due to its distinct corporate structure has endeared it to many people. The limited liability corporation has been a long-standing concept. However, in the United States it offers a relatively new category of business entity to entrepreneurs and investors. This model is a revised adaptation of the German GbmH model.

Business Ethics don't exist. Ethics are not related to only one portion of your life - they span all of your life. Once you realize every part of your life affects every other part of your life and ethics is a permanent fixture - your life will change. You choices matter. Make a difference.

In the previous article, the author dealt with Part 10 of the Baldrige Values and Concepts – Managing for Innovation. This Part 11 issue will share his research on Systems Perspective: one of the Eleven Values and Concepts of Malcolm Baldrige Criteria. He compared the direction set by the CEO of the researched companies and CEO of Baldirge winners.

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