Useful Advices - Business

You’ve heard this before: There were four people named Everybody, Somebody, Anybody and Nobody.

There was an important job to be done and Everybody was sure Somebody would do it.

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

Anybody could have done it. Nobody did it. Somebody got angry because it was Everybody’s job. Everybody thought that Somebody would do it. But Nobody asked Anybody. It ended up t

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

Examples of combination products may in

hat the job was not done, and Everybody blamed Somebody, when actually, Nobody asked Anybody.

Question is - What was the Job?

At a trade show, the job that Anybody can do, and Ev

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

erybody thinks Somebody will do, but winds up being that Nobody does it - well, that’s the follow-up part.

The Center for Exhibition Industry Research (ceir.org) says research s

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

hows that up to 80% of leads gathered at a show are not followed up. Bottom line, that translates to - you’ve wasted 80% of your money.

Here are tips for recouping your investment

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

Combination pro

and improving your bottom line:

1. What’s Your Purpose at the Show?
If it’s to gather leads, then that should be the main focus for the entire process - before, during and

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

after the show. What if it’s something else, like meeting with clients or recruiting employees? That doesn’t absolve you of following up leads. You still have to do it.

2. What’

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

s a Lead?
Define before the show what you consider a lead. Is it a company that will purchase within a certain time period? Has a certain budget? Is looking for a particular p

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

roduct you sell? You can separate the contacts into levels - A, B, C or hot, medium, cool - and work them that way. But they still have to be contacted.

3. Who’s Responsible?

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

> Before you get into the Body problem - any, no, some and every - write out the process. Produce a schedule for following up. The first contact should come within 10 days of t

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

e end of the show. Otherwise people forget who you are. The trail becomes cool, then cold. Determine names and responsibilities at each step of the follow-up process. Accountabil

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

Following aspects would a

ity is important. Make certain people know what is expected of them, and who else is in the process. This is critical when the person staffing the booth is not the person who doe

dd to the challenges in developing combination products:

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

s the actual call. The farther and longer the process from the show site and date, the more chances there are to lose the lead.

4. What’s a Follow-up?
At minimum it’s a Than

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

k You note to every contact you made. These people invested time and money to come to the show, time and effort to stop by your booth. The simple courtesy of a Thank You goes a l

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

ong way in today’s fast paced and impersonal world. If you listened properly and were able to gather specific information, you can provide a quote, supply answers and have a real

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

reason for the follow-up call.

5. What Should You Send?
Unless requested, do not send the $20.00, 20-pound corporate package of literature that tells absolutely everythin

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

Professional from academic institutions, pharmaceutical industries, health care indust

g about your company. Do not send an obvious form letter (“Thank you for visiting us at the ABC Expo in Booth 6543 six months ago...”).

Do Send:

* your business card - people wil

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

l remember a logo and spelling of names and companies
* information about your company - a generic piece is fine
* the specific answer to the question - My company can help

.

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

your company ____ (crunch numbers faster, ship with less hassle, increase accuracy in testing)
* any samples, price lists or references which will help speed the sales cycl

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

Companies that provide selfless information through particip

e.

Remember - The job that Anybody can do, and Everybody thinks Somebody will do, but Nobody does - well, that changes when all understand the importance of trade show follow-up

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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