Useful Advices - Business

It has been an exciting and wonderful journey for me since I migrated in Canada. I celebrated my 3rd year anniversary and it'

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

s amazing how I've grown a lot. One of the secrets is to associate myself with well connected people as well as individuals w

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

Examples of combination products may in

ho are already financially independent or in the financial freedom path like I am. These accelerated my success in a very sho

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

t period of time in a new country. This year, I've the privilege of being an apprentice by my multi - millionaire speaking co

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

ach who "coincidentally" is expanding his seminar business internationally. He started off with Asia which fortunately is my

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

Combination pro

riginal roots. I will be sharing the stage with him in Phuket, Thailand next month. The topic?!? Ten Steps to Building Busi

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

ness Relationships: Gateway to International Business. Without further ado, here are some of my success secrets to be able t

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

o say that in building business relationships strategies that I use, I'm the best in the planet!

STEP 1: Meet 10 people per

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

ay. Spend a few hours every week networking online and offline. This is 300 people per month, 3,600 individuals annually!

S

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

TEP 2: Let's go international. Expand your network abroad not only in your local area.

STEP 3: Start a niche. Be first an

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

go fast. Think of a market and provide value.

STEP 4: Develop your unique "souling" proposition. What is your 30 second e

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

Following aspects would a

levator speech purpose?

STEP 5: It's a numbers game. Don't discriminate who is a "quality" connection.

STEP 6: Listen, li

dd to the challenges in developing combination products:

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

sten, and listen. Get interested in people. You'll be surprised that you will be on top of their mind when you remind them a

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

out what they told you about them.

STEP 7: Refer people. Zig Ziglar said it best "You can get EVERYTHING in life you want i

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

f you will just help enough other people get what they want."

STEP 8: Stretch your comfort zone. Always do something that w

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

ll make you feel "uncomfortable." You'll be surprised how bigger your comfort zone will be when you do this once a week.

STE

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

Professional from academic institutions, pharmaceutical industries, health care indust

P 9: Read, read, read. Most of my valuable connections I met through a book or an article that I bumped into.

And the last

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

but definitely not the least:

STEP 10: Ask for testimonials. This will increase your credibility.

Remember, we're only six

.

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

degrees away from the person who will be ready to help us get what we want. I guarantee when you do these simple steps, you'r

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

Companies that provide selfless information through particip

e on your way to build better relationships and expand your business internationally. Have a better and better connection! :-

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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