Useful Advices - Business

The question of what value means to a customer has a different answer for every customer. Ultimately each

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

customer — and no one else — decides what constitutes value. When a customer assesses the value of a sol

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

Examples of combination products may in

tion, there are two key determinants: business value and personal value. The explicit discussion may be a

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

ll about business value, but there is always a personal agenda.

Explicit business value is about either

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

educing cost or increasing revenues, or both. Business value is never about product features or capabilit

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

Combination pro

ies; it is about how those features and capabilities can improve the business so it makes money or saves

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

oney.

When a sales person attempts to express value by listing an impressive array of features and funct

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

ions (the “spray and pray” approach), the sale is unlikely to go anywhere fast. Features must be linked t

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

a desired business benefit, and it is the sales person’s responsibility to help the customer connect the

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

dots by explicitly linking the features and functions to the business benefits.

While business benefits

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

are usually identifiable in terms of dollars, there are always non-financial components to any decision,

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

Following aspects would a

and they are often individual and personal in nature. Understanding the personal agenda is often the key

dd to the challenges in developing combination products:

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

o a successful sale. While the stated reason behind a purchasing decision will almost always be a straigh

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

tforward business benefit, the real (hidden) factor that clinches the sale might well be something more p

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

rsonal. The buyer, for example, may be looking for a promotion, may have annual bonus dependent on resolv

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

ing an issue, may be trying to ease pressure from above, or even be trying to build a new organization.

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

Professional from academic institutions, pharmaceutical industries, health care indust

hese personal drivers present two challenges: discovering the information and using the intelligence effe

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

ctively. To find out what is on your customer’s personal agenda, you must build a trusting relationship a

.

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

d listen.

As a sales person, if you can’t present business value, you are really only presenting cost an

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

Companies that provide selfless information through particip

d pretending that the value is at least as big as the cost. It is better not to waste the customer’s time

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 - Bringing Your Customer Value

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