Useful Advices - Business

There is a process for developing sales commissions with respect to overall sales compen

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

sation that can be followed. The principles are quite easy. The variables include the

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

Examples of combination products may in

amount of base salary that you pay to an individual (if any), and the percentage of tot

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

al compensation that base salary represents in relationship to the incentive program its

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

lf. Some companies pay zero base salary and a straight commission on all sales, and all

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

Combination pro

ow their sales people to have a draw against that commission for a certain period of tim

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

e (we don’t recommend this – it tends to degrade the perception of the position to poten

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

tial candidates, and put your company at the bottom of the food chain as a potential emp

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

oyer). Other companies pay a very high base salary and a low percentage of total compen

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

sation as incentive. Many companies also target a base versus incentive at about a 50/5

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

0 split.

Which program your company is going to choose is largely dependant upon a coup

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

Following aspects would a

le of factors. First of all, what are the technical and domain requirements of the sale

dd to the challenges in developing combination products:

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

representative that you’re looking to hire? If there is a very high level of technical

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

understanding and advanced training required in order to put a sales representative on

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

the street, you’re going to want to pay a higher base salary in order to attract that ki

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

nd of individual to your company. Where there is very low level of technical or advance

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

Professional from academic institutions, pharmaceutical industries, health care indust

training competencies amongst sales representative, typically that is where you can aff

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

ord to pay a lower base package and put more of the compensation at risk. So, base comp

.

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

ensation is usually a function of experience. It’s also a function of the competitive l

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

Companies that provide selfless information through particip

andscape in the particular industry that you’re in for hiring good sales representatives

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 - Sales Incentive Program Design

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