Advice You - Business

It seems like not a week goes by that I don't get a small business owner who

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

wants my help with their brochure. They need help with the copy, with the de

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

Examples of combination products may in

ign, with the layout -- all of it.

They are usually ready to pay me good mon

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

y, too. Only problem is I tell them there's no way I would ever waste my tim

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

with a brochure. I've never used them myself and I've never known anyone wh

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

Combination pro

used them and reported it made a big difference in their profits.

So I alwa

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

ys tell people to forget the brochure. Instead, use a sales letter. A sales

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

etter is much more effective than a brochure.

Why do I say this?

Well, for

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

ne thing if you get two pieces of mail one day -- one a three cover folded br

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

chure, the other a letter that looks like it’s hand-typed and personally sign

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

d and personally addressed in a number 10 white envelope with a stamp on it -

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

Following aspects would a

- which one are you going to read first?

Fact is a simple, even ugly, sales

dd to the challenges in developing combination products:

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

etter is more personalized than a brochure. And so they are way more likely

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

o be noticed and read and acted on.

In my humble opinion, brochures are lose

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

s as far as communication. They're cold, ineffective, institutional advertisi

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 pushed by people by producing such materials.

There is nothing a fancy, ex

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

Professional from academic institutions, pharmaceutical industries, health care indust

pensive brochure with pretty pictures and designs and curly cues can offer an

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

do for you that a letter -- a plain white piece of paper with words -- can't

.

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

If you don't believe me test it yourself. Test a regular, typed up letter

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

Companies that provide selfless information through particip

or letter that looks typed) against a fancy brochure.

You'll see what I mean

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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A factor is basically a financial institution that purchases accounts receivable from businesses. The factor normally bears the credit risks associated with the accounts receivable purchased by it. There are about twenty firms in the United States engaged solely in factoring. These firms raise their operating funds by issue of equity and debt capital.

What do George Washington, Benjamin Franklin and Paul Revere have in common? Apprenticeship training, of course!

The fact is a lot of advertising simply won't work for your business. The good news is that there is an alternative.

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