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Useful Advices - The Brothers Knew How To Win New Business
Back in the seventies two brothers built a hugely successful advertising agency. They were called Maurice and C
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
harles and their agency was Saatchi and Saatchi.
The key to their success was their ability to promote their b
The key to their success was their ability to promote their b
; 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
siness. It seemed like every week they would win new business from some big corporation.
Every time they won a
Every time they won 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.
new client they told the whole world about it.
The lesson for others to learn is that Maurice and Charlie were
The lesson for others to learn is that Maurice and Charlie were
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
’t always famous. When they started out they were just two more talented and determined people.
The world is f
The world is f
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ll of talented and determined people, so what makes the difference between those who succeed and the also-rans?
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
The Brothers focussed their attention on building their business by creating a reputation. They knew that they
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
would win new business almost automatically if people wanted to work with them.
The key to building their repu
The key to building their repu
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ation was that they produced highly “creative” advertising. Their work was innovative, like the “pregnant man”.
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
They then sought to win awards for their work.
But it didn’t end there – they went a step further. They active
But it didn’t end there – they went a step further. They active
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
y promoted their good work and their awards to ensure they gained the attention of the widest possible audience
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
.
They knew that to win new business they needed to expose themselves to the people who made decisions about w
They knew that to win new business they needed to expose themselves to the people who made decisions about w
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
ich advertising agency their company should use. Such people will only beat a path to your door if they know th
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
t you exist and they are excited by your reputation.
Let’s just review what I have said here – they produced o
Let’s just review what I have said here – they produced o
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
tstanding work and they promoted their work. Why, to build a reputation for producing highly creative advertisi
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
g.
They made the name Saatchi and Saatchi synonymous with effective advertising. And because of that advertise
They made the name Saatchi and Saatchi synonymous with effective advertising. And because of that advertise
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
s wanted to use their services.
This is a path that anyone who wants to build a successful business would do w
This is a path that anyone who wants to build a successful business would do w
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ll to follow. It makes it really easy to win new business.
There was one other point on which I would be prepa
There was one other point on which I would be prepa
.
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
ed to bet a large sum of money. I bet that the brothers never asked themselves: “what if?”
Successful people d
Successful people d
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
n’t worry too much about consequences, they deal with them when they arise. So, don’t you worry, just go for 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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