Advice You - Business

People often ask me how I managed to get a major newspaper like The New York Times to write my story. My response is, "Nineteen years of growing a successful

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

business." You have to lay the groundwork before you can expect national media attention. The heavy hitters won't call you until your name is well known in yo

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

Examples of combination products may in

r industry.

It took me 19 years to build the kind of professional presence that would attract the interest of a national media outlet like The New York Times

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

But you don't have to wait that long to see your name in print. You can start right now enticing local and regional media to tell your story. Unlike advertis

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

ng and many other forms of marketing, you don't pay for this type of publicity. It comes from the media free of charge, but in turn requires more effort than

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

Combination pro

dvertising.

Media relations is also riskier than paid advertising. When you pay for an ad, the publication is committed to running your ad just as you design

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

ed it. The same is not true for media relations. There are no guarantees that just because you gave an interview the media will include a story about your com

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

any and, more importantly, that the story will say exactly what you want it to say. You have no control over who else they might interview or how they'll slan

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

the story. Don't expect to see, much less approve, a copy of your story before it runs.

However, when a positive article about your business does run in the

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

media, you get a big pay-off. The public perceives a news story as far more credible than any advertisement. A published article or broadcast news item is acc

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

pted as a media endorsement of your company. Also, even though the story might not match your expectations exactly, you can still benefit tremendously.

Vanqu

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

Following aspects would a

ish 3 Myths

Before beginning a media relations effort, you'll need to overcome the myths about media relations that could prevent you from creating an effect

dd to the challenges in developing combination products:

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

ve campaign.

Myth #1 – The media will discover me. False. You have to help them along. You must boldly and unabashedly offer the media a relevant, valuable,

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

ascinating story about your business. Many of the stories published or broadcast about companies come directly from the companies themselves. The media needs

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

nd appreciates story ideas, but they're not likely to come up with an idea about your company unless you give it to them.

Myth #2 – The media would never be

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

nterested in me. Not necessarily. Even a small company can grab the media's interest. You can, too, by carefully developing the story of your business to spea

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

Professional from academic institutions, pharmaceutical industries, health care indust

k directly to the media outlet's audience. Think about how your unique experience on a specific case can be interesting and helpful to that audience. Look for

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

ways the story of your success can educate or inspire others.

Myth #3 – I could never speak persuasively to the media. Of course you can. Calling on the medi

.

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

is no more difficult than calling on any new attorney-prospect. All it takes is preparation. Make notes before you make contact, practice what you want to sa

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

Companies that provide selfless information through particip

and be ready to catch a reporter's interest in the first 15 seconds.

With preparation and diligence, you will overcome almost all media relations challenges

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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Over the years I have observed and worked with numerous managers, business owners and executives in a variety of industries worldwide and I have made a number of observations. There tend to be common consistent management mistakes and errors that are made routinely.

Have you heard of Hurricane Marketing yet? Well, that is because I just made it up. But let me explain to you what it is. You see, some marketing consultants talk about; The Perfect Storm of marketing.

Writing an effective print ad, particularly a classified advertisement, requires that you remember five essential points. Failure to implement these points correctly can cost you much in the way of time lost and a sale missed.

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