Useful Advices - Business

In our training workshops we often get questions about how to get "referred leads" so sales professional don't have to prospect anym

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

ore. It seems as if we will go to any length to avoid having to make cold calls.

In the 28 years that I have been training sales p

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

Examples of combination products may in

rofessionals, I have seen very few who actually know how to actively pursue referred leads and even fewer who actually do.

Now when

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

we talk about getting referred leads when making cold calls, most sales people will think I am crazy.

We I was cold calling in Hou

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

ston with a salesman not long ago we got at least one referred lead from every cold call we made. Even I was amazed.

The way I do

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

Combination pro

cold calls, they are simply brief calls made to meet the prospect, introduce myself and my company, get an appointment to comeback,

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

and then get out. We are finding that many times the prospect will give you time right then. The idea behind the my prospecting sy

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

tem is that you should never simply drive past a good potential customer without stopping.

One of the things you find when you make

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

cold calls on a regular basis is that you will have a lot of the prospects sit and talk with you. I am not sure why this is happen

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

ing more now than before. It is either that people are getting more comfortable making the cold calls or the prospects are not being

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

called enough and welcome the company. Either way, it is really fun to prospect in the field these days.

We were calling on peopl

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

Following aspects would a

e involved with quality assurance and I could see a plaque in everybody's office indicating membership in the local chapter of their

dd to the challenges in developing combination products:

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

association.

One of the first prospects we called on suggested that we call on one of his friends from the association in another

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

company. We did and got an appointment two days later which included a complete tour of their testing facilities.

Acting on that p

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

emise, everyone that we called on for that week we simply asked, "Is there anyone else that you know in this area that we might call

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

on?" They would give us a name and I would ask if it was all right to use their name. Everyone said it was OK.

My assignment was

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

Professional from academic institutions, pharmaceutical industries, health care indust

to help the salesman develop his skill at prospecting, making cold calls. But it turned into a week of going from one cold call to

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

referred lead, after referred lead.

This may not work in every industry, but when you call on people who have a strong tie to a co

.

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

mmon organization or association, give it a try. The secret is simple you just have to do it.

Who knows, maybe you too will get re

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

Companies that provide selfless information through particip

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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