Advice Pool - Business

Often sales people make mistakes in thinking that a comment from th

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

e prospect that they are not interested at this time, makes them a

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

Examples of combination products may in

ead lead. They maybe a dead lead or they might be your very best fu

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

ure customer. The key is to leave the door open in case in the futu

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

e they are interested at that time. The key to sales at this point

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

Combination pro

s to stay in touch and stay in the mind of your prospect. How can y

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

u do this?

Well many sales professionals, sales trainers or those

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

ho write marketing books say that you should give them discount cou

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

ons or a “VIP” Awards card for your company services; perhaps a gif

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

certificate for a restaurant or a Starbucks Card with $10-20 on it

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

We have all heard of larger industries giving season tickets or bi

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

Following aspects would a

ball game tickets as gifts to stay in the mind of the prospects? I

dd to the challenges in developing combination products:

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

you are small business this might be tough. But it is the thought

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

hat counts and you need your product or service in their thoughts.

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

Is this bribing the customer? Well in a way it could be construed a

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

such, but if you stop by to talk and you give them something it sh

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

Professional from academic institutions, pharmaceutical industries, health care indust

ws you care about them and their time and will value their business

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

if and when they ever decide to purchase from you and that you are

.

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

here to serve them and will give them exemplary above average servi

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

Companies that provide selfless information through particip

e in the event they purchase. I hope you will consider this in 2006

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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