Useful Advices - Business

I want you to deliver more:

- Profit

- Sales

- Productivity

- Customers

- Quality

And, by the way, you’ve got less:

- Money

- Staff

- Time

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

Sound familiar? Year on year, sales leaders are being asked to achieve improved results with fewer resources or, at least, more from the same. To most Sales Di

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

Examples of combination products may in

ectors, the attainment of a permanent increase in sales revenues must seem like the search for eternal youth; unending and, ultimately, unavailing.

Unfortunatel

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 task of selling never becomes any easier and as competition continues to intensify, sales people will face issues that can be extremely difficult to deal w

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

th e.g. decreased product uniqueness, increased competition within ‘safe’ markets, longer sales cycles and shorter product life spans.

The reality is that whate

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

Combination pro

ver got you where you are today will not be sufficient to keep you there. A rapidly changing environment is the regular background against which organisations mu

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

t develop.

Change is continuous and will become more rapid as we move forward over time. Sales management must be capable of reacting to those changes, be prepa

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

ed to take advantage of them and yet stay within the overall framework of a formalised strategy.

The role of strategy is fundamental if the people within an org

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

nisation are to be enabled to make the level of contribution of which they are capable. Strategy, based on a good grasp of the core competencies of a business, i

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

s an essential precursor to achieving optimal shareholder value.

Getting more for less or more from the same level of resources, is my simple definition of effi

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

iency.

Here then are six steps you can take in 2007 that will help you achieve those increased targets:

Step One: Understand your operation

- Do you kn

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

Following aspects would a

w your operation well enough to improve it?

Step Two: Set the right objectives

- Do you have the right objectives to steer improvement?

Step Three
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
>: Check customer perception

- How can you identify non-value-added (wasteful) activity?

- How can you remove it?

Step Four: Increase capacity

- Are y
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ou meeting demand?

- What action(s) can you take?

- How efficient are your resources?

Step Five: Continuously improve

- Do you have a systematic appro
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ch to constant improvement?

Step Six: Check customer perception

- How effective have your efforts been?

- How can you tell?

And finally, when you revi
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
w your performance in 2006, consider benchmarking yourself against the Sales Management Acid Test:

The Acid Test – When thinking about your own sales
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
orce,

- Did you understand their motivators – what was driving them?

- Did you always have visibility of their numbers – year to date, forecast vs. require
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
d performance?

- Activity levels – did they work hard and smart enough?

- Engagement – did they always meet with the right level in their prospects/accounts?

.

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
Messaging – were they capable of delivering an appropriate message at the right level?

- Qualification – did they only spend time on deals where they could com
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
ete and ultimately win?

- Closing – did they construct successful campaigns and close enough business?

Copyright © 2006 Jonathan Farrington. All rights reserve

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 - How To Deliver More Next Year With Less!

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