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Advice You - Finding and Securing a Sponsor For Your Meeting or Event
A good amount of time and effort will be required to secure appropriate sponsorship for your meeting or corporate event. This being the case, it i
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
s important to start your planning process early. Beginning this process as much as 18 months in advance of a planned meeting date is not unrealis
; 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
tic.
You may want to consider aligning potential sponsorships with your corporate vision, values, strategy, brand promise and reputation.
Where
You may want to consider aligning potential sponsorships with your corporate vision, values, strategy, brand promise and reputation.
Where
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
to look for sponsorship
Your strongest prospects are going to be the people you do business with. When you are ready to make contact do so by go
Your strongest prospects are going to be the people you do business with. When you are ready to make contact do so by go
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ing through the person who manages your vendor account.
Once they have put you in touch with the person within their organization to approach, fo
Once they have put you in touch with the person within their organization to approach, fo
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
us first on building a relationship. Become a friend before asking for funding. Have a plan in place for getting to know your prospective sponsor
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
.
In this plan you should clearly state what you have to offer, how the sponsorship will be implemented and what is in it for the sponsor.
There
In this plan you should clearly state what you have to offer, how the sponsorship will be implemented and what is in it for the sponsor.
There
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
are three key areas to focus on when evaluating your sponsorship. The first area is being in agreement on all aspects of the sponsorship. The s
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
econd area is implementing the sponsorship and the third and final area is measuring satisfaction and performance.
Reaching Agreement
Get to
Reaching Agreement
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
know your potential sponsor.
Develop an understanding of your prospective sponsor’s business goals and primary audience – what they are loo
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ing for.
All partners involved should be clear about objectives, roles and expectations.
A contract should be drawn up allowing ample ti
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
me to deliver on all promises.
Focus your efforts on desired outcomes and event audience needs and benefits.
Implementation
Devel
Implementation
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
op an audience-centric sponsorship policy with your sponsor's input.
Develop an action plan for fulfilling all obligations.
Follow a cle
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
arly defined risk management policy.
Encourage your sponsor to work closely with your event organizing committee.
Offer visibility in ad
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
vertisements, printed material and press releases. Incorporate your sponsor’s logo into promotional material to their satisfaction.
Look for
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
ays to leverage your sponsor's name and association with your organization.
Provide your sponsor with regular updates.
Spend quality tim
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
e with your sponsor.
Measurement
Measure what matters most to your sponsor and their key stakeholders.
Ask your sponsor if they we
Measurement
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
re pleased with the value they received.
Thank your sponsor both personally and publicly (at the event) for their contribution.
Produce
.
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
a summary report, measuring and evaluating results against plan.
Share feedback from attendees, employees and customers.
Recognize impor
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
tant individual and team contributions.
When managed well a fully integrated corporate sponsorship can be beneficial to all parties involved
When managed well a fully integrated corporate sponsorship can be beneficial to all parties involved
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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