Main Subject - Business

There comes a time for businesses when they must submit successful business proposals to gain clients, projects, interviews, potential

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

development rights, etc. And for many businesses, successful business proposals are mandatory for their survival. How many of your pr

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

Examples of combination products may in

oposals get accepted and how many get rejected? Or don’t you keep track of the outcomes?

It is interesting to note that most successf

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

ul businesses have more of their proposals rejected than accepted. Your strategic thinking business coach endorses strategic thinking

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

in the preparation of all business proposals. Here are ten (10) tips from your strategic thinking business coach for writing successfu

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

Combination pro

business proposals.

Strategic Tip #1: Develop and use an evaluation system for a “go” or “No Go” decision for all responses to Reque

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

sts For Proposals.

Strategic Tip #2: Approach each business proposal preparation with an open mind and strategic thinking, instead of

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

simply starting with an old proposal.

Strategic Tip #3: Establish superior value based upon your differentiators to help dissuade th

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

e decision makers to make a selection on price.

Strategic Tip #4: Prepare a strategic Executive Summary that is clear and concise and

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

that focuses on the prospect and the needs, challenges, opportunities and why you are the best choice to understand the prospect’s bus

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

ness situation and needed outcomes.

Strategic Tip #5: Keep your business proposal as short as possible. Short proposals tend to be r

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

Following aspects would a

ead first, which places you in a strategic position compared to your competition.

Strategic Tip #6: Prioritize your uniqueness factor

dd to the challenges in developing combination products:

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

s and competitive advantages and illustrate how they will help assure a positive ROI.

Strategic Tip #7: Prepare a strategic and well-

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

written cover letter.

Strategic Tip #8: Target your proposal’s communication style to your intended audience. Use the “language” of

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

your audience.

Strategic Tip #9: Always ask for their business! Ask for it in the cover letter, Executive Summary and when you deliv

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

er or present your proposal.

Strategic Tip #10: Always request a debriefing from the prospect and conduct a post-proposal review to g

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

Professional from academic institutions, pharmaceutical industries, health care indust

in feedback and to identify areas for improvement. And yes, do this with your successful proposals, as well as the unsuccessful ones.

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

Your strategic thinking business coach encourages you to use strategic thinking in the development of your business proposals. If you

.

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

would like to learn more about preparing successful business proposals and how a strategic thinking business coach can facilitate and

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

Companies that provide selfless information through particip

guide you in that endeavor, please contact Glenn Ebersole through his website at www.businesscoach4u.com or by email at jgecoach@aol.co

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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