Main Subject - Business

Add the following three negotiation techniques your arsenal.

Win-Win Solutions

When negotiating, always look for win-win solutions, and pr

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

esent them as such. When I was selling real estate, it was common for sellers to think that buyers wanted the lowest price they could get. The sell

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

Examples of combination products may in

rs often wanted the highest price, but buyers usually wanted an easy transaction, lower costs and lower payments. A seller that gives these things

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

an get a higher price and both sides will win.

If you need to get the garage cleaned, and your son wants a new watch, you have the makings of a wi

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

-win negotiation. You might tell him, "Look, you want that watch, and I want a clean garage. Let's both get what we want okay? Clean it up today an

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

Combination pro

we'll get your watch. How's that sound?"

The key to good win-win solutions in your negotiations is to find non-conflicting needs or wants. Notice

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

how some conservation groups negotiate to stop private land development. They want the land left wild, and the owners want to get some value out 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

the land and still be able to use the house, ranch, etc. So the groups buy a "conservation easement," preventing development, but leaving the title

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

with the current owners. Both sides win.

Exclude Competition

If you could exclude competition in any negotiation, you'll have a better cha

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

ce of getting what you want, right? How do you do that? Start by never mentioning competition to the other side. It's possible they don't know all

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

heir options, and it's not your job to enlighten them. At the negotiating table, be ready to confront the competition head-on, when the other side

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

Following aspects would a

brings it up.

In the carpet cleaning business for example, an owner could politely dismiss the competition when it is brought up. He could say so

dd to the challenges in developing combination products:

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

ething like, "They're okay, if price is all that's important to you. Of course, they can't clean as deep with their machines. If you want the deepe

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

t cleaning and at a temperature that kills dust mites and other things in the carpet, you have to have a machine like ours, and fully trained techn

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

cians."

Extreme Initial Positions

Everyone knows this technique, but most are afraid to use it. A real estate investor I was talking to th

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

other day told me,"If you aren't embarrassed by your offer, it isn't low enough." He's made millions in real estate, so I think he's worth listeni

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

Professional from academic institutions, pharmaceutical industries, health care indust

g to.

Many years ago I sold a car. A nice guy, after crawling under and inside the car, offered me half of what I was asking. I said no, and he le

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

t his phone number, in case I changed my mind. As he drove away, I wondered what was wrong with the car, and I was suddenly hoping I could get just

.

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

a bit more than that half-price offer. My expectations had been altered quickly. Fortunately another person gave me the full asking price before I

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

Companies that provide selfless information through particip

ecided to pick up that phone.

There are dozens of good negotiation techniques that you can profitably use. Why not start by practicing these three

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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