Main Subject - Business

For the past several weeks, we have focused on some wonderful but (to my way of thinking) rather fancy ideas about life. I wrote about motivation (I don't believe in it). I wrote about sorti

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

ng out priorities (I do believe in that!). And I wrote about the 4 traits of highly successful people. I love that stuff! But I believe most of you subscribe to TIP's for help in actually ru

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

Examples of combination products may in

nning your office from day to day. Most of you have told me you're professionals in private practice, or owners of small businesses, or a manager. And that means you must attract clients or

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

ustomers, serve them very well, and earn their return business - and do it every single day.

So. Let's talk about some practical steps that my clients have used to build their referral busi

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

ness quickly and systematically. I call it the "5-by-5" process. Let's walk through it.

Monday: Take care of, clean up, and get rid of 5 tolerations in your office or work. Make a list! L

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

Combination pro

ok around your space, your car, your desk or office, and commit to spending an hour taking care of at least 5 small, daily annoyances that have been bugging you, robbing your energy, or maki

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

ng life difficult. Do that filing! Repair that broken light, or throw out those old magazines. Buy a new desk chair, or a whole new desk! You can't afford to be distracted by these things. F

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

ix them. Do it on Monday!

Tuesday: Contact 5 former clients or customers. Send them a letter, call them, even send them flowers or a small gift in cases where that might be appropriate. In

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

ite them back, offer them a free follow-up or consultation. Ask them to help you evaluate your service by completing a questionnaire or ask them to come in for an interview. Tell them you va

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

lue them as customers and want them to come back - and refer their friends! You can do this! Schedule an hour and do it on Tuesday.

Wednesday: Contact 5 current clients. Follow a similar r

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

utine from yesterday. Call them up, or send a card or letter telling them they are valued customers. Invite their comments on how you can improve your service or expand your business. Let th

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

Following aspects would a

em know you appreciate their trust and value their ideas. Do it nicely, with tact and sincerity, but ask them to help you build your business. You practiced on Tuesday, so you know you can d

dd to the challenges in developing combination products:

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

o this. Schedule an hour and do it on Wednesday!

Thursday: Contact 5 potential customers or clients who have never used your services, and make them an offer they have to respect. Go thro

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

gh your rolodex, your list of friends, colleagues, associates and members of organizations you belong to - use the Yellow Pages if you have to - but pick up that phone and invite 5 people to

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

check you out! If it's appropriate, tell them you want to grow your business and offer them a free sample (who could turn down a free massage or a free oil change, or….?) If that's not appr

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

priate, tell them you want to grow your business and you'd love to meet with them, buy them lunch, whatever it takes. You've been practicing for two days, so you know you can do this. Schedu

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

Professional from academic institutions, pharmaceutical industries, health care indust

le an hour and do it on Thursday!

Friday: This is the hardest one of all: Do 5 wonderful things for yourself! You've worked hard all week, taken risks, put the word out that you are ready

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

and eager to handle more business. That means you need to be healthy, energized, relaxed and ready. So, go for a walk. Take a long lunch and visit a friend. Read a great novel - or a trashy

.

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

one, your choice! Enjoy the sunshine, or relax and listen to the rain. Spoil a neighbor's kids, then give them back! Schedule TWO hours, and do it on Friday!

This week, take 25 specific, me

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

Companies that provide selfless information through particip

asured steps to create more room and build your business. If you wanted practical, this is it. Now, it's your choice. My advice? Go get 'em!

Have a wonderful, productive and delightful week

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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