Useful Advices - Business

There is one question I want to ask you today, does your current customer and prospect list qualify to be on your

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 list? I ask this because I was looking at my list the other day and realized that some of the companies

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

Examples of combination products may in

on my list really shouldn’t be there. When I started creating my prospect list, everyone on it seemed to fit my c

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

ustomer profile. However, now I’m not so sure. Some of the prospects simply don’t match my customer profile after

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

all. This also came up with a sales coaching client when they discovered the same thing with their prospect list.

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

Combination pro

All I had to do was ask a few questions about the prospects on the list. It was the perspective that made the dif

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

ference. We couldn’t match the ideal customer with what was on the prospect list. It was easy to discover the pro

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

lem.

Do yourself a favor and measure your prospects against your sales plans criteria for prospects. Do it befor

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

e it is too late. We can’t get good results from bad prospects and if our prospect list needs to change, adjust 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

sooner, rather than later. One solution is changing the methodology and process of finding prospects.

Take a di

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

ferent perspective

If you’re managing a sales team, any time is a great time to review your sales plan and prosp

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

Following aspects would a

ect lists. Industries and businesses change and you might need to modify the contents if you know what I mean. Th

dd to the challenges in developing combination products:

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

sales plan, any sales and marketing plan may have started with all the right logic and intentions. However, thin

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

gs change, markets shift and what may have started out as a good plan, may have gotten out of hand. Sometimes we

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

eed to step back a little to gain a better perspective on what we are doing.

If you don’t have a target customer

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

profile, shouldn’t you have one? Think of your prospects as the building blocks for a building. We would be kiddi

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

Professional from academic institutions, pharmaceutical industries, health care indust

ng ourselves if we didn’t admit to wanting a few strong, massive and secure cornerstone customers. Most important

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

y, we want solid customers we can build a reputation with. Let’s imagine that our original sales plan was to supp

.

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

ort 150 core customers. The strategy is to develop a community of customers that you enjoy working with and both

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

Companies that provide selfless information through particip

arties profit from working together. Qualified strategic partners are out there and we should be looking for them

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 - Game, Set and Match

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