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Advice You - Picking the Right PR Partner
Finding a PR agency can be one of the toughest things you'll have to do to promote your business. The right PR agency can get you mentioned in
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
newspapers, magazines and broadcast programs across the country. The wrong agency can be a drain on your company's resources and red ink on t
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
he bottom line. This column, Picking the Right PR Partner provides five key tips to finding a PR agency that is right for you.
1) Your PR
1) Your PR
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
Agency Should Match Your Business.
If you're a large, multi-national company, you should look to work with a large, multi-national public
If you're a large, multi-national company, you should look to work with a large, multi-national public
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
relations agency. Conversely, if you're a small company, you should work with a boutique agency. The goal is that you want to be a big fish t
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
o your PR agency and let's face it, if you're a small business, $3,000 a month could be considered a major investment for you. Instead of bein
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
g laughed off the block from a large public relations agency, check into a boutique firm, to whom $3,000 per month will be a bigger deal.
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
2) What Can the PR Agency Do for You?
Look at more than the budget (although that's an important part of the selection process). Look at
Look at more than the budget (although that's an important part of the selection process). Look at
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
what the agency can do. Are they only media relations specialists or do they offer media training as well? Ideally, you'll want to go to one p
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
lace with a full suite of services from press kit writing, media relations and media training to strategic counsel, website cooperating and bu
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
iness consulting.
3) You're Hired!
Interview the agency as you would a new employee. It's not about the fancy Powerpoint presentatio
3) You're Hired!
Interview the agency as you would a new employee. It's not about the fancy Powerpoint presentatio
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
n, the eloquently written proposal or even the budget -- it's about knowing and liking the PR agency you'll work with. If you dislike working
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
with the key account people (or person) on your account, you'll be dissatisfied in the long run, no matter how low the monthly retainer.
4
4
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
)What do other clients have to say?
Talk to other clients, both past and present, to see what they have to say about the agency. Also tal
Talk to other clients, both past and present, to see what they have to say about the agency. Also tal
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
k to them about the results they got vs. what they expected. This says a lot about the agency's ability to deliver results and maintain client
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
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
satisfaction. If the business is a former client, find out why they are a former client. This will often give you insight into the agency. Tr
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
y to speak with business owners both inside and outside of your industry.
5) Show me the Clips!
Any agency worth their monthly retain
5) Show me the Clips!
Any agency worth their monthly retain
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
er will have clips or a highlights reel for past and present clients. So, ask the agency to see those recent placements. This will give you an
.
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
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
idea of their media relations ability. Also, quiz the agency about reporters they work within your industry. This will give you an idea of ho
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
w connected they are within your industry.
By following these simple tips, you'll soon be on your way to effectively working with a PR agency
By following these simple tips, you'll soon be on your way to effectively working with a PR agency
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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