Main Subject - Business

Negotiating skills are crucial to dealing with every-day situations, both at work and at home. When I first became active in creative real estate, I realized my n

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

egotiating skill set was very weak and needed immediate improvement. As any seasoned, real estate professional will tell you, honing your negotiation skills is li

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

Examples of combination products may in

e giving yourself an immediate raise. And learning to listen effectively is one of the most important skills you can master.

Clearly the skills involved in negot

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

iation and effective listening are close cousins. Both are vital for a successful career. Henry Kissinger, one of the United States most respected negotiators, c

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

mmented that listening is the key to success at the bargaining table.

In negotiations, we often concentrate on positions rather than interests. The result is an

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

Combination pro

outcome that does not extract the greatest possible value out of the process. Moreover, you may inadvertently damage an important relationship. Effective negotiat

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

on dramatically affects the perceived value of the goods or services we are buying or selling. When you're selling, it raises the perceived value of your product

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

or service. When buying, it can lower the perceived value. Whether buying or selling, the style of negotiation is of prime importance.

Every negotiation involve

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

an element of conflict: Two sides must face-off before any negotiation can begin. When a high degree of concern is expressed for the substance of the negotiatio

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

n and a low degree of concern is expressed for the relationship of the parties, a defeatist behaviour pattern is produced. This is characterized by pressure, inti

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

idation, adversarial relationships and an attempt to get as much as possible as soon as possible.

Avoiding defeatist attitudes at the negotiating table is simply

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

Following aspects would a

a matter of a little planning. Find something in the deal that is not important to you but is important for your counterpart. When things are getting sticky and

dd to the challenges in developing combination products:

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

about to spiral out of control, concede the unimportant element to your counterpart. Often times, this is enough to clinch the deal in your favor. It will, at lea

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

st, allow you to proceed in a more constructive manner.

And while your planning, ensure you have an exit strategy. If everything goes against you, you will be sa

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

ed by this little bit of contingency planning.

Improving your communication skills means not just becoming a better listener, but learning to listen to what is n

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

ot being said. It is said that 90% of communication is non-verbal. If you've nothing to say, stay silent. Learn to emphasize or reinforce what you are saying thro

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

Professional from academic institutions, pharmaceutical industries, health care indust

gh your body language and demeanor. Carefully watch your conterpart's body language to gauge what they are really thinking.

As always, practice makes perfect so

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

set some time aside with your colleagues to work through some negotiating games and training. Your negotiating skills will improve quickly if you practice when yo

.

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

're not under the gun.

Last but not least, the better your negotiating skill set, the easier and more enjoyable your relationships will be. You will find that it

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

Companies that provide selfless information through particip

's easier to agree and, more importantly, to disagree with each other. Ultimately, you'll be far better prepared to negotiate the curves that life throws your way

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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I just happened upon an article that entices us to speak about customer transactions as “experiences.” Suddenly, I feel I’m emerging from a time capsule, back to the 1960’s (most of which really happened in the 70’s according to people who were there.) Everybody is barefoot, dangling love beads, and singing “If you come to San Francisco, wear a flower in your hair!” I’m a little uptight, in my London tailored suit, custom shirt and way too conservative necktie. This doesn’t go unnoticed by the hippie chick that has been giving me the eye; or is she really scowling? I can’t tell; maybe it’s this funny Kool-Aid they gave me when I sat on the grass…

It really doesn't take much to create an ad that out pulls your competition. And if you want to capture a larger share of your market, that's exactly what you’re going to have to do. But before you jump into creating an ad, here are some questions you should consider concerning the products you're selling or the service you’re providing...

You don't have to hire big expensive market research firms. It's easy to gather and evaluate information on your own, with no cost.

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