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Useful Advices - Make Your Business A Winner
Has your business ever won an award? If the answer is no, then you are missing out on a fantastic opportunity to promote your business. It’s an opportunity that is
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
trong>low cost (often free), highly visible, presents the business as a leader in its field and gives the media a reason to write about it in a positive way.
; 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
It can turn your business into a star overnight!
It doesn’t matter what industry you are in, there is always at least one annual awards competition. You probably kno
It doesn’t matter what industry you are in, there is always at least one annual awards competition. You probably kno
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
the one for your industry and you’re probably thinking the same companies win over and over again. But that’s not always because they’re the best there is, it’s beca
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
se they’re amongst the few that have realised the benefits of entering award competitions; it’s often the case that so few other companies enter that you’re a
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
lmost guaranteed a win.
You don’t have to have had a sensational year, produce an amazing product or been fantastic in any way shape or form. A professional
You don’t have to have had a sensational year, produce an amazing product or been fantastic in any way shape or form. A professional
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
y written and presented award entry submission will make all the difference. Most people don’t understand the trick to winning is making the judging process easier fo
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
the judges. Remember, the judges have to read a lot of award entries, across many different categories; they are usually volunteers and are time short. If you use la
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
guage that makes your entry stand out, your chances of winning will increase dramatically.
70% Success I’ve written award entries for many different
70% Success I’ve written award entries for many different
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
companies and have helped them win in over 70% of the entries I have written. So I can tell you there are few better feelings than taking the stage to accept an awar
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
for your business; it feels great and isn’t hard to achieve.
And as I said, you’ll gain visibility. On the evening that you’re presented with your award, you’ll be
And as I said, you’ll gain visibility. On the evening that you’re presented with your award, you’ll be
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
urrounded by hundreds of individuals representing many of the organisations within your industry. Your competitors will see you win and so will many of your customers
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
and potential new customers. They’ll write your company’s name in the book of winners that everyone takes home, announce it on their website and may
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
even publish it in the industry magazine they are associated with (if they are associated with one).
Media Interest With an award under your belt, y
Media Interest With an award under your belt, y
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
u’ll have something to talk to the media about, so start your public relations machine. Send your industry media a press release telling them all about the award
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
ng>you have won. Make sure you tell them about the award, why you won it and include a case study of the specific business activity that won the award.
It’s
It’s
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
interesting news that’s relevant to people and businesses in your industry; the people that read their magazine, so they’re very likely to publish a story featuring y
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
our business as an award winner and may even ask you for an interview. This is great, because it means more free publicity for your business.
.
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
>Win More Business Once you’ve got one award, don’t stop there. Keep entering and you’ll keep winning. The more awards you win, the stronger the reputation f
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
r excellence you will create around your business. And that’s what you really want to win: more business
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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