Main Subject - Business

I pulled up to the curb and met three pairs of beautiful eyes. One pair was from the girl next door and the other two were from her friends'. I saw the list in their hands and knew what they were up to.

They were fundraising for some

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

program for their school. You make a donation and get some candies, cookies, or some other treat in return. They were canvassing the neighborhood for contributions. A good cause I must say.

But a faulty tactic for professional fundrai

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

Examples of combination products may in

ing...

Now most people will help out these girls because this won't break their bank account, it's for a good cause, they get something in return, and they don't want to appear stingy. The companies who promote these fundraisers alrea

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

y know this. (It's another way for them to move their product.) And besides, how can you say "No" to a child who has the gumption to ask?

But if those three girls were canvassing the neighborhood every other week for contributions, th

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

y would lose support. An increasing number of neighbors would avoid answering their doors. And more "No Soliciting" signs would appear next to the doorbells.

Why?

Because this method has the ingredients of a "sell" job. It's somethin

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

Combination pro

that's pushed onto the unsuspected. And people don't like to be pushed, prodded, or sold. They want to be in control of the decision-making.

For example, do you know anyone who brags about their closetful of Girl Scout cookies? No? I

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

knew some working seniors who bought Girl Scout cookies because their area manager's daughter was selling them. Not because they wanted them.

Yes donors like receiving something in return, but if it's not something high on their prior

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

ity list—there's a disconnect. And this disconnect is the major cause of stagnant donations.

So if you're in charge of fundraising—how do you make and maintain the connection?

Believe it or not - even though donors give - they're sti

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

l asking, "What's in it for me?" If you can answer that question, you'll maintain the connection and build a loyal donor base. And from this connection, let's look at...

Nine foolproof reasons people give:

#1) Benevolence. Some peopl

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

are gifted in giving. They love to give with abundance. I have a friend who was born with this gift. He's never stingy.

Many others like your editor struggle with it. It's just not in our nature. But there's a sacred moment of pleasu

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

e when what you give makes someone radiate with happiness. There's nothing that can match that joyful moment.

#2) Feeling powerful and important. With a wave of your magic wand—a cancer ward is built, a library is established, or the

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

Following aspects would a

igh school gets to keep their music program. You make the local news and are the talk of the town. People suddenly recognize you and smile at you.

#3) Fear. Fear of a dreaded disease. Fear of high taxes. Fear of losing something/someo

dd to the challenges in developing combination products:

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

e precious is a powerful reason for giving.

#4) Leaving a legacy. Keeping your name circulating in people's thoughts is a powerful reason for giving. Contributors near the end of their time try to become immortal by granting huge sums

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

of money to their favorite causes. They get to keep their name in the public's eye by benefiting an institution.

#5) Emotional Convictions. People will give larger amounts for political causes than to their local homeless shelter. Pro

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

-life, pro-choice, more government and no choice.

#6) Guilt. Picture the homeless guy standing on a traffic island with a cardboard sign. He's tired, dirty, smelly, and a vet. Most drivers compare what they have with that man and many

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

are compelled to give.

#7) Recognition. People love to have their name etched in stone. Some want to become the silver, gold, or platinum sponsor at their favorite charity. And some love the attention of being mentioned in a newslette

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

Professional from academic institutions, pharmaceutical industries, health care indust

, brochure, or website.

#8) A premium. Many non-profit organizations offer a CD, DVD, or a gift with a high perceived value. This makes the decision to give easier because the donor gets something valuable in return for her donation.

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

#9) Tax deduction. A strong trigger for giving, and as a tax strategy. You get to write-off your contributions when filing your tax returns.

So you see, it's not always about the cause. I see representatives from non-profit groups get

.

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

ing emotional and trying to sell the cause. But people give because you have touched their deep desires and have answered the question, "What's in it for me?"

Tommy Yan helps business owners and entrepreneurs make more money through d

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

Companies that provide selfless information through particip

rect response marketing. He publishes Tommy's Tease weekly e-zine to inspire people to succeed in business and personal growth. Get your free subscription today at www.TommyYan.com

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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