Useful Advices - Business

The most oft asked question I receive when it comes to sales is, "What is the single most important piece of

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

advice that you can give me to increase my sales?" While the answer to that is easy and simple, it is not th

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

Examples of combination products may in

e answer that most sales people want to hear. Because it its not some magic tool or strategy, but a lifestyl

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

e. And in the vast majority of cases, it will require change on their part. If you want to increase your sal

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

es by dramatic amounts, 100, 200, 300 or 500%, then you need to start working "on sales" rather than "in sale

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

Combination pro

s."

Every single world-class athlete, scholar, world leader, etc. dedicates a specific amount of time to fur

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

ther developing their skills by continued learning and practice. That is what you must do as well. But only

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

if you want to truly excel. If you were a physician, would your studies and learning cease after graduating

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

from medical school? If you were an Olympic athlete, would you stop training after you won your first event?

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

Why does Tiger Woods have a coach? These are all questions that help you to understand the importance of i

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

vesting in yourself in order to achieve greatness.

The bad news is that most people, not just in sales, but

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

Following aspects would a

in all walks of life would rather live in mediocrity than put in the extra effort. But that is also GOOD new

dd to the challenges in developing combination products:

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

s! Why? Because it means that if you decide that you actually want to put in a little extra effort to separ

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

ate yourself from the crowd, the crowd is probably watching Andy Griffith reruns. It has often been said tha

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

t one of the greatest secrets of the ladder of success is that it is the bottom, rather than the top that is

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

crowded. If you have the desire to rise to the top of the ladder, you can.

But first you have to make a de

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

Professional from academic institutions, pharmaceutical industries, health care indust

cision. You have to decide that you are going to get better and you are going to do what is necessary to get

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

better. You have to determine that you are worth the investment of time and money that will result from thi

.

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

s decision. Ask yourself this, if you do nothing to change, will you honestly be any closer to success and

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

Companies that provide selfless information through particip

financial freedom than you are now? Make the decision to be better. Make the decision to invest in yourself

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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