Advice You - Business

Board presentations in many ways are no different to presentations to other audiences and groups. In board presentations you still need to:

have completed a thorough stakeholders exercise and know as much as you can about the members of the board and their attitudes;
know your s

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

ubject;

know what you want the board to say ‘Yes!’ to;

find some key ‘values’ or ‘emotions’ on which to hang your presentation;

structure your content to make it easily digestible;

deliver your content confidently;

wear the right uniform and talk the talk

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

Examples of combination products may in

of your stakeholders. There are however, a number of other considerations you can address and tactics you can choose to employ to ensure your message is heard and embraced, the first of which is to decide if a presentation is the right way to go.

Would a written report be a better

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

way of gaining board support? Written reports are useful when there is a great deal of technical data, a complicated process that needs careful scrutiny, or where a number of lead-up steps need to be taken before a case needs to be stated or advocated.

Some executives use the tactic of providi

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 written reports that deliver high levels of data and proposing that the board ‘accept’ the reports. Then, they round off with a presentation on ‘Best Case’.

Having decided if a presentation is the best course of action, review the following tips and ideas to determine which ones suit your pe

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

Combination pro

sonal circumstances.

Front-End Research

In studies conducted by Professor Jay Conger of the University of Southern California, it was found that effective corporate persuaders would select influential and savvy colleagues and superiors to get an emotional reading from them pri

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

or to engaging in processes of persuasion. They would question how various ideas and proposals might impact emotionally and logically on staff, superiors or board members. This enabled them to acknowledge and mirror in their proposals the emotional state and expectations of those they were seeki

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

ng to persuade.

In board presentations, it makes supreme sense to discuss your proposals during the development phase and avoid the situation of ‘springing’ a completely new proposal on your board. Where possible, consider the following:

Try out your raw ideas on various board members

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

before you finalise them. If you can’t access board members, test your proposals on your colleagues, CEO, or other senior execs in the know, during the development phase of your ideas. Elicit from them/him/her as much detail of board attitudes as possible. Make amendments to satisfy any concerns

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

or ideas expressed.

Notice or discover the ‘value’ words board members use, such as ‘shareholders interests’, ‘profitability’, ‘responsibility’ ‘market share’ ‘credibility’ and other key words that relate to fundamental concepts and principles embraced by your board. Find ways of link

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

ng your key ideas to the value words you have elicited. Value words also provide benchmarks that you can employ when delivering board reports, as opposed to submissions.

Get to know your subject from ‘both sides’. An audience of board members is generally a demanding audience where as

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

Following aspects would a

sumptions, judgements and proposals may well be challenged.

To avoid being unprepared for challenges, become a Devil’s Advocate of your own position. Research the downside of your proposal and build up a comprehensive idea of the other side of your argument, proposal or idea. Get coll

dd to the challenges in developing combination products:

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

eagues to pull your proposal apart if they can.

Complete an opportunity-cost exercise so you can be the one who says something along the lines of “I would be remiss if I didn’t detail the potential costs and pitfalls of this proposal….” complete with well thought out ideas on how to ne

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

utralise or minimise those costs and pitfalls.

Having a very clear picture of opposing arguments and the pitfalls and negatives inherent in your proposal will allow you to pre-test the validity of your position. It also prepares you for demanding or difficult questions during, and at t

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

he end of, your presentation.

Understand clearly the format required. Often, executives turn up to a board meeting with their content well prepared but with little idea on the format of the presentation. Boards like exercising their power (Who hasn’t sat outside a board meeting stewi

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

g while waiting to be summoned?) and your board will probably demand you deliver your presentation according to its rules and not yours.

Ensure you know how the board likes information, reports and proposals to be presented. Schmooze a board secretary, ask your CEO or a sympathetic bo

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

Professional from academic institutions, pharmaceutical industries, health care indust

ard member to discover how the board likes presentations to be delivered and follow the rules rigidly. By delivering your presentation in a familiar format you increase the persuasive power of your presentation.

Know who the tyrants are and what their hobbyhorses are. Board members are

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

no different to any other group. Often board members will make statements or ask questions simply to show off their knowledge. It is wise to determine if any of your content will touch upon pet subjects of individual board members. In such cases you need to design tactics that either appeal to,

.

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

or circumvent, particular positions of individual board members.

Know where the power resides. What power blocs operate within the board? As a managing director you may well know who the ‘Alpha’ personalities are on your board. If you are not a CEO, find out as much as you possibly ca

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

Companies that provide selfless information through particip

n about the power politics of your board. You are then in a position to tailor your content to the values and beliefs of the alphas or to the dominant power bloc on the board. In Part Two of this article you will cover the esentials of delivery to a board.

(c) Desmond Guilfoyle 200

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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