Advice You - Business

In business, as in all walks of life, the way you present yourself to the world is of critical importance. It is no good having a fantastic product to sell if the public perception of it is misguided or negative. Equally, it is important that the service you offer reaches its

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

target audience and doesn’t fall on deaf ears, like selling snow to the Eskimos. Often the best way to ensure an accurate and positive image for your products or services is to employ a public relations company to do it on your behalf.

However there are a few elements to cons

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

Examples of combination products may in

der before looking for representation:

What are your principal objectives in employing a PR agency?

You might, for instance, be attempting an expansion into new markets, the consolidation of present markets, an adjustment to your strategic communications approach or an o

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

verhaul of your entire media strategy.

What areas of public relations can be used to benefit your business?

In order to identify the best match for your media campaign you should also clarify whether the campaign will be largely business to business public relations

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

financial PR, consumer PR or corporate PR.

What will the budget of your PR campaign be?

It is important to assess the amount of value a PR campaign can potentially add to your business to establish the budget you want to use for it.

The critical thing to keep

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

Combination pro

in mind when choosing a PR agency is that you will be entering into a relationship that involves spending a great deal of time together, often at each others workplaces, so personal chemistry and a degree of proximity is of paramount importance.

All relationships prosper fro

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

transparency, good communication, and an expenditure of time and effort, and your dealings with PR agencies should be no different.

As such, it is necessary to establish ground rules to ensure that there are no misunderstandings and that the relationship can grow through a s

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

ound financial structure outlined by a clear budget that is drawn up and agreed upon by both parties and includes guarantees about future performance targets. If these conditions are met, having the appropriate PR company working for you can be a marriage made in heaven. But h

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

w to find the perfect partner?

The principal way clients draw up a list of public relations agencies is through recommendations by colleagues, advice from journalists associated with PR companies or when a third party independently evaluates your needs and matches them with t

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

he appropriate agencies. Considerations at this stage include the degree of specialisation the company has in your industry and whether they have the suitable media contacts to be able to infiltrate your target media. In light of this another likely place to look would be in t

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

e PR company listings or advertisements in a trade publication of your industry or field.

Of the PR specialists selected, the next stage is to choose a maximum of three agencies to deliver a pitch that would allow you to asses whether their company matches your public relatio

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

Following aspects would a

s requirements. Issues to consider when selecting a shortlist of agencies are the territories the agency covers, the size of the agency, the kind of budget the agency is used to working with and whether the agency has the necessary resources to launch your kind of campaign. Sm

dd to the challenges in developing combination products:

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

aller agencies, for example, might offer you a younger, more personalised service while outsourcing elements of the work, whereas larger agencies will be able to do everything in-house and have more experience in your industry.

With respect to these issues it is a good idea t

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

check whether the candidates have Consultancy Management Standard accreditation, although you should also be aware that many of the younger or smaller companies are not accredited. The Consultancy Management Standard is an independent audit by the Public Relations Consultants

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

Association that assesses its members over a series of tests including the agencies standard of management and accountability, the probity of its long term business plan, the soundness of its campaign management, and the degree of satisfaction it gives to its clients. Compani

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

s applying for the Consultancy Management Standard also need to have a three year minimum trading record, ?200,000 annual income and employ at least five full time staff, thus assuring you of their financial solvency.

At this point it is essential to write a brief outlining t

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

Professional from academic institutions, pharmaceutical industries, health care indust

he clear objectives and time frame of the work you expect of the PR agencies. A well thought out brief is essential because it gives PR agencies a sense of what you are about and what you are hoping to achieve by employing them. It is also a way to detect whether they are like

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

y to share the vision and passion you have for your business. Following a successful pitch the companies might enter into a provisional relationship using workshops or trial projects. This is advisable because it gives you time to develop a stronger relationship with them and

.

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

assess whether their team is compatible with yours and they have any fresh ideas tailored specifically to your business.

Always remember that the final decision of which agency you select must necessarily be subjective and a matter of which agency works best on a personal bas

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

Companies that provide selfless information through particip

s. As much as your objective assessment of their credentials and track record is valuable, the question of your feelings of compatibility and confidence with them is of key importance. You should, in other words, choose which agency you wish to employ, not which type of 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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