Useful Advices - Business

If we lived in a perfect world, business would be business.

It wouldn’t be tainted with destruct

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

ive competition and the petty conflicts that are so prevalent in everyday transactions. But, as y

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

Examples of combination products may in

u know, we’re far from that ideal.

We have to handle defensive people, who make us defensive, an

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

then who call us, defensive! When we feel burdened by someone’s ego, we should to try to ignore

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

he weight of it.

There is one, simple technique that has been working for me: waiting for a shor

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

Combination pro

period to respond to the communications of difficult or uninformed people.

Let me give you an e

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

ample.

I was approached to deliver a speech by a reputable organization that pays its speakers a

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

laughable amount for their professional services. This figure is so low, that it truly amazes me

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

hat anyone, other than a stark beginner, would consider accepting it.

As a matter of fact, it is

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

insulting.

Hey there, you might be thinking; shouldn’t you be grateful that someone wants to hea

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

you speak?

Absolutely; it is always a compliment, but as you know, compliments won’t pay the ph

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

Following aspects would a

one bill.

So, instead of dispatching a quick and efficient email, saying I can’t work for such a

dd to the challenges in developing combination products:

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

pittance, I wait until I’ve dissipated any defensiveness about the offer.

Reflexively, I would s

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

y, “Thank you, but that offer falls so far beneath my speaking scale that I can’t consider accept

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

ng it; but good luck!”

Instead, when I’m calm, after waiting, I’m inclined to say: “Thank you so

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

much for asking me to speak, and while I’d love to accept, the offer falls well beneath my speaki

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

Professional from academic institutions, pharmaceutical industries, health care indust

g scale. If you can revise your budget, I’d love to do this for you!”

Big difference, right?

Th

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

s is what, perhaps 24 hours of waiting, can do to temper our communications.

Don’t be sucked int

.

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

making an instant response, simply because email is an instantaneous medium. Take more time, and

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

Companies that provide selfless information through particip

you’ll craft a much better reply, one that is apt to build a relationship, rather than degrade it

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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How you sell your business and at what price are critical considerations to be aware of BEFORE the sales transaction is ever contemplated. This article presents strategies for sale that consider virtually every kind of potential buyer.

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Useful Advices - Put That Email Aside Until You Calm Down!

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