Useful Advices - Business

Change ... A lot is currently being made of change ... embrace change, love change, don't be an enemy of change, dancing with change, I've got change in my

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

pocket!

Enough with the change ... Let's consider going back to the basics ... at least in the ever changing world of negotiation.

Let's review what we ha

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

Examples of combination products may in

ve covered in the last several issues of Words of Mouth.

SPITTING IN YOUR SOUP: Watch out! Haggling too much, cutting corners, compromisin

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

g integrity, violating ethical standards ... it never pays. Long term relationships can be destroyed by short term thinking. Words of Mouth Issue No. 3 cont

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

ins the complete text of this discussion.

SIX STEPS FOR NEGOTIATION PREPARATION: Getting ready to negotiate is probably more productive th

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

Combination pro

an mastering all the slick tricks. While a good working understanding of tactical negotiation is great - the strategic preparation process offers real lever

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

age. Words of Mouth Issue No. 4 will walk you through the step-by-step process.

THE GENDER BLENDERS: How successful men and women mix-it-u

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

p in negotiation. We must not ignore the incredible differences in perspective and perception between men and women. Many well intentioned, well prepared ne

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

otiators shoot themselves in the foot by missing these vantage point differences. A review of this phenomenon is discussed in Words of Mouth Issue No. 2.

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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

strong>TACTICS: The nuts and bolts of give and take. Once a well prepared negotiator uses the creative solutions strategy detailed in my book Negot

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

iate Like The Pros, tactics become important.

The Wince, the Red Herring, the Good-guy/Bad-guy, Limited Authority, Nibbling, and numerous other tactical ga

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

Following aspects would a

mbits are illustrated and role-played in our Negotiate Like The Pros audio and video programs.

NEGOTIATE LIKE THE PROS: Eleven common mist

dd to the challenges in developing combination products:

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

kes inexperienced negotiators make - Sometimes it is important to know what not to do in a negotiating scenario. Amateur mistakes in negotiations are extrem

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

ely costly. The eleven common mistakes amateur negotiators make and how to avoid these mistakes are detailed in Words of Mouth Issue No. 1.

THE LAS

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

T WORD: We at Negotiate Like The Pros are dedicated to educating business and legal professionals about the most productive strategies and tactics

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

to improve bottom line results.

A Keynote Speech is a wonderful introduction to the strategy and tactics embodied in the Negotiate Like The Pros materials.

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

Professional from academic institutions, pharmaceutical industries, health care indust

More in-depth training comes in one-half day, full day, and two day formats.

Our Negotiate Like The Pros four volume video program comes with facilitator'

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

s guide and participant workbooks - This is an especially useful package for in-house training when budgets are tight.

Give us a call at 800-859-0888 (ask

.

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

for George) if you would like to inquire about our keynote speeches, training programs, or audio/video products ... You can even call us if you just want to

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

Companies that provide selfless information through particip

get a copy of any of the past articles mentioned. It's always a great idea to go back to the basics ... And, you can keep the change.

Bio

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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Useful Advices - The Most Important Components For Successful Negotiations

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