Useful Advices - Business

Design and Implementation of a new Sales & Marketing campaign must be carefully thought through

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

from the beginning. What message do you want to send about your company, products, and service

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

Examples of combination products may in

s? What are the anticipated results? What is the execution strategy? What is the cost ratio ver

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

us expected return?

These are just a few of the questions that run through our minds in the ea

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

rly stages of planning. If your goal is revenue growth and expansion, I believe you need to des

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

Combination pro

gn, develop, and implement your Sales & Marketing plan on that foundation. Here is some criteri

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

a to consider while planning:

• Identify your markets and your profit potential in the selecte

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

d markets

• Segment your markets by customer, service, etc.

• What type of penetration is des

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

red: existing, new, different, or all of the preceding

• Design a plan to include procedures a

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

nd controls to monitor and evaluate market penetration by segment

• Determine and build intern

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

l and external sales strategies

• Evaluate and plan staff training to generate internal monito

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

Following aspects would a

ring controls, evaluation processes, and customer education if necessary

• Plan to control rev

dd to the challenges in developing combination products:

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

enue growth with product mix, product promotion, and customer pre-qualification

• Evaluate exp

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

cted sales and then ratio numbers to your sales staff’s current compensation package to see if

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

consideration is needed for additional or different wage incentive programs

• Design controls

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

o evaluate, monitor, and drive the highest level of profit possible

• Determine the type of me

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

Professional from academic institutions, pharmaceutical industries, health care indust

dia and then budget advertising accordingly

• Develop a backup plan in case of immediate campa

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

ign disaster

The results of a well-balanced and executed Sales and Marketing campaign can be r

.

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

sounding. Constant expansion of products and services, market area, clientele types, etc. all c

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

Companies that provide selfless information through particip

ontribute to the continued growth and success of any company. Plan your work and work your plan

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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To endeavor to have success and accomplish major goals begins with the simple process of making a decision. Wanting and wishing will never get you to where you want to go, you must decide exactly where you are going first.

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