Useful Advices - Business

Virtually everyone in sales is required to negotiate. After conducting hundreds of workshop and working with thousands of people during the last decade, I have discovered that most sales people are not as effective at negotiating as they

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

could be.

However, I do come across great sales negotiators from time-to-time and have noticed that they typically have a few things in common. Here are the characteristics they usually possess.

Understanding of the negotiating process.

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

Examples of combination products may in

Highly effective negotiators recognize that negotiating is a process, not just something that is done when discussing the terms and conditions of a solution. Negotiating is much more than haggling about price. It requires an understanding

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

of the dynamics that affect the process and influence the behavior of people. Great negotiators invest time learning different tactics and strategies and how each technique contributes to the overall outcome.

Focus on win-win. Win-win me

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

ns that both parties feel good about the outcome of the negotiating process. Some books that state win-win solutions are not possible in business negotiating; the authors write that someone usually gives away more than they should and the

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

Combination pro

outcome becomes a win-lose situation. Great negotiators don’t believe that. They help their customer try and solve problems and look for opportunities to give as much value as possible. They also know how and when to limit their concessi

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

ns, give-aways, and discounts so they can work out an agreement that is equitable for both parties.

Patience. Too many people search for the quick fix try to close the sale as fast as possible so they can move on the next prospect. Great

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

sales negotiators recognize that patience is a virtue and that rushing the process often leads to an undesirable outcome. They don’t hurry to reach an agreement. Instead, they take time to gather the necessary information. They think care

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

ully about possible solutions. They take their time during the entire process. This is critical because major mistakes are made when we try to reach an agreement too quickly. We rush through the process, not giving the other person’s offe

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

r ample attention, and often end up with an outcome that is win-lose. Simply because we were in a hurry.

Creativity. Most great negotiators are also very creative. They use their problem-solving skills to determine the best solution and

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

ook for unique ways to achieve their goal. A friend of mine was once embroiled in a bitter lawsuit with a company and after months of negotiation, he came up with a solution that ended the suit. He stretched out beyond the normal answers

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

Following aspects would a

nd developed an alternative that was accepted by the other party. In other words, he got creative.

Willingness to experiment. Negotiating is a very dynamic process because no two people are alike. What works extremely well in one situati

dd to the challenges in developing combination products:

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

n can backfire in another. That’s why great negotiators practise using a variety of concepts and techniques. They experiment with different strategies, solutions, and tactics. And a small failure does not prevent them from experimenting w

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

ith new ideas in the future. Confidence. Great negotiators are confident when they enter a negotiation. They aren’t arrogant or rude or cocky—they are simply confident. They have developed a high belief in their ability to reach an win-w

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

n agreement. They are confident that they can handle anything that comes their way in a negotiation and this confidence is developed through experience. Great negotiators evaluate themselves regularly. They learn from their mistakes and v

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

ctories. They focus on improving their skill. They develop an internal confidence that is unshakable.

Keen listening skills. People will tell you virtually everything you need to know if you ask the right questions AND listen carefully t

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

Professional from academic institutions, pharmaceutical industries, health care indust

their answers. I personally believe that this one attribute is the most important skill in selling and negotiating. I remember my wife talking to a prospect on the telephone and at one point during the conversation she sensed that he had

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

more to say. She waited patiently and listened carefully and the other person eventually gave her valuable information that helped her close the sale. Unfortunately, too many sales people simply wait for their turn to talk, or even worse

.

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

interrupt their prospect. This lack of listening means they often miss hearing key information that will assist them in the negotiations.

Negotiating is not a skill that is easily acquired. It takes time, effort and energy. If you want

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

Companies that provide selfless information through particip

o improve your negotiating ability you must be ready to work at it. Invest the time learning the dynamics and science of negotiating. And be prepared to push yourself out of your comfort zone.

© 2007 Kelley Robertson, All rights reserved

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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