Main Subject - Business

Recently, the lottery in NY -- the state I call home -- reached a record jackpot, larger than ever before. When I penned these words, the grand total of funds just waiting to be won was over 340 milli

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

on dollars. As you can imagine, this got people talking. Almost every local newscast covered the huge jackpot. People were lining up at convenience stores across the state, hoping against hope to cash

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

Examples of combination products may in

in and win big.

This got me thinking about the two types of people: gamblers and planners. Both would like to have the big bag of cash, but they take different routes to achieve it. A gambler might

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

plunk down a dollar -- or two, or twenty, or two hundred -- in hopes of winning big in a lottery, while the planner follows a less exciting route of saving and investing. At the end of the day, who’s

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

more likely to have the big bucks? Chances are, it’d be the planner.

Tradeshow exhibiting works the same way. You can gamble on having a good show, approaching it in a frenzy because ‘everybody’s doi

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

Combination pro

ng it’ and you’ve heard there’s big money to be had, or you can approach it methodically, making a plan, doing your research, and making those actions that are prudent and improve your bottom line.

S

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

ome gamblers win. That’s what keeps lotteries going, after all. Some exhibitors show up with only half an idea of what they’re doing, a horrible exhibit and only fledgling show skills, and yet still h

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

ave a triumphant show. But the odds are against most gamblers. For every winner, there are thousands of losers. For every successful ‘We just wing it’ exhibitor, there are hundreds who look at the tim

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

e and effort expended and realize they could have done much, much better -- if only they’d taken the time to learn what they were doing. Are you willing to take that chance?

I’m not much of a gambler

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

myself, but even I know you should never lay money on the table without knowing what’s at stake. Ask yourself, what could happen if I leave my tradeshow performance to chance?

You could luck out and

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

have a fabulous show.

You could also:

- Miss out on great sales opportunities because your booth staffers didn’t ask the right questions.
- Alienate would be buyers with pushy sales tactics,

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

Following aspects would a

off color humor, or crass booth behavior.
- Make any of a dozen common mistakes that cost companies customers.
- Ruin your standing in the industry by appearing inept and poorly prepare

dd to the challenges in developing combination products:

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

d next to your peers.
- Discourage would-be partners from considering doing business with you: after all, you obviously don’t have your act together!
- And even more!

Losing this wager

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

doesn’t appear so inconsequential anymore, does it? When the real life cost of poor show performance is spelled out, the planning route suddenly becomes far more attractive.

Ideally, tradeshow planni

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

ng begins twelve to eighteen months before the event. This is the best way to ensure your staffers know what’s expected of them, and have time to develop and practice the skills they need to do the be

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

st job possible.

What happens if you’re within that window? Do you just throw the dice and hope for the best?

You can: or you can choose to do the best you can in the time you have. Any preparation,

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

Professional from academic institutions, pharmaceutical industries, health care indust

even a few hurried hours before the event, is better than none at all. Obviously, the more you have, the better off you are.

Priority items to cover include goals and objectives: Why are you at the

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

show and what do you want to accomplish? Go over qualifying questions: what type of attendees should your staffers be spending time with, and what type of information do you want them to collect. Esta

.

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

blish a lead collection and follow up procedure to maximize your return on the show.

All of this is obviously a lot of work -- which is why the planner types start well in advance of the show. Howeve

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

Companies that provide selfless information through particip

r, when you consider the alternative -- winging it through one of the highest profile marketing exercises you’ll engage in all year -- you’ve just got to ask yourself one question:

Do you feel lucky?

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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Developing new skills is a must to be successful at Network Marketing...but it is even more important to develop a strong will. Without the will to succeed, and the ability to accept failure and learn from it, your goals will almost certainly remain your dreams.

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