Useful Advices - Business

Because we are salespeople we are expected to know when and how to close a deal, right. I thought so too until I tried to buy something

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

this weekend. I guess retail sales is different because I was sending buying signals to our salesperson and he wouldn’t close us. Afte

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

Examples of combination products may in

r three solid buying signals like – “This seems like a great buy” or “It would look great in the back yard” and even “this seems like t

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

he right one for us”. We were ripe and ready to close. My wife was ready to take out the checkbook. The young man helping us was very

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

nowledgeable about his product line and was showing us all the features and the benefits of the different units in the show room. It wa

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

Combination pro

s a very large show room and so we narrowed down the perfect unit for us. We were ready to buy and write a check. And you are right; we

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

didn’t and ended up walking out the door. We even gave the young man a last minute chance. We said to him, “Is there anything else yo

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

u want to say to us before we leave?” “Thanks for dropping in” is what he said, and we left.

What happened to my sale?

We ended up bu

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

ing what we wanted but not at the store where we first met Bob. We drove down the street and across the freeway to visit another specia

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

lty store. At this store we met Barbara. Barbara was nice, friendly and also knowledgeable. She had the exact same unit but under a dif

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

ferent brand name for a little less than Bob. I was frustrated by this time and unloaded all the information needed for a salesperson t

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

Following aspects would a

o use on me and close the deal. But guess what? Barbara didn’t know how to close either. I must have given her a half dozen buying sign

dd to the challenges in developing combination products:

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

ls before she said, “So, would you like me to give you a written quote”. We couldn’t believe what we were hearing so we told her we wan

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

t to buy the unit and have it delivered in a few weeks. By this time we knew what we wanted and wanted someone to take our order.

The

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

sales examination

The first salesperson had our order in his hand. After doing a beautiful job of giving us valuable information and s

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

teering us to the best unit for our back yard and showing us the best value we were ready to buy. Bob simply didn’t close us and kept o

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

Professional from academic institutions, pharmaceutical industries, health care indust

talking about more features and benefits of the product. Bob told us what to watch out for in other units and what others might say ab

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

out the unit we were ready to purchase. This allowed some questions to enter our mind. Since Bob hadn’t closed us, we thought we should

.

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

look at a few more units before we made our purchase. That is when we met Barbara and she did a miserable job of closing too. But we

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

Companies that provide selfless information through particip

bought anyway. The moral here is to listen for buying signals and close. You might just talk yourself out of a sale if you keep talking

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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