Useful Advices - Business

You know the old saying "first impressions can last a life time". Well, I believe that second impressions can be more important than first impressions.

I would like

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

to share a couple of stories with you. Several years ago, I found myself looking for a new business opportunity. I knew many people involved with many different op

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

Examples of combination products may in

portunities. I began doing some research and found two opportunities that I really liked. The first opportunity, I called the woman, and left a message with her daug

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

hter. I called again a few days later and left a message on her answering machine. I never heard back from her.

The second opportunity that appealed to me, I sent

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

the girl an email. She phoned me 2 weeks later saying her computer had been broken. This did not sit well with me, but ok, things happen, so I called her back withi

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

Combination pro

n 2 hours of her leaving the phone message. The next time I heard from her was about 3 weeks later with an email apologizing profusely for not contacting me sooner.

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

As you can see in the above 2 scenarios, while I was initially impressed with the people and the companies they represented, my second impression was so bad that I c

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

hose not to do business with either of them.

Follow up is so important that I believe more time should be spent on the follow up than the initial contact. Follow up

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

is where the trust between you and the interested party begins. If you tell someone you will call Tuesday, then call Tuesday, even if you have to call from a pay ph

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

one, or cell phone. Let your contact know that they are important enough for you to follow through with your word. Show them that you will stand by your word no mat

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

ter what.

If you tell a customer you will be there on Monday between 10am and 12 noon, then do whatever it takes to be there on time. No one likes being left waitin

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

Following aspects would a

g.

This second impression is going to set the stage for the relationship between you and your contact. Following up and following through will show your contact tha

dd to the challenges in developing combination products:

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

t you are dependable, and reliable, two very important qualities in our very competitive society.

When you are happy with someone’s service and dependability, you ar

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

e much more apt to refer your circle of influence to them.

Another part of second impressions is making yourself available.

I would like to share with you a portion

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

of an email I received from someone I was looking into doing business with:

"I basically am unavailable on thursday, friday, saturday and sunday from 2:30 till midn

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

ite. Early in the day is fine. Also, Mondays I am unavailable from noon till about 6:00. Early in the day is fine. Tuesday is not good for me. Wednesday I am f

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

Professional from academic institutions, pharmaceutical industries, health care indust

lexible/open all day. Please pick a time that works for you. Let me know, and I will call you."

The hours she was free to do business were so unappealing to me, I t

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

ook my business elsewhere. There was a two hour time difference between her and I, thus her asking me to call her prior to 9am my time, or on Wednesday.

If you want

.

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

people to do business with you, then make yourself available to do business.

Second impressions are more than just follow up and follow through, they are your oppor

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

Companies that provide selfless information through particip

tunity to show your contact why doing business with you is a good choice.

The next time you tell someone you will call or come over, don't make excuses, just do it!!

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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This second article in a series discusses what has become an epidemic: ads and websites that simply don't communicate because they assume the reader knows as much about their business as they do. Result: ad dollars down the drain.

Have you ever seen an advertising balloon blimp? It is one of those elongated floating mammoth balloons that seem to get your attention whenever it passes by. It has become a very popular form of advertising medium.

Many of the available jobs in the market are not published by the companies. This is the perfect opportunity to make a spontaneous application. Don't know what it is?

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