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Main Subject - Networking Quandry
A quandary facing business people is how to figure out what to do next, after meeting a new person. What is the right time to get back to them? What if t
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
hey won’t take a phone call?
Tiffany has re-entered the business world after taking ten years off to raise her children. Additionally, she took the big s
Tiffany has re-entered the business world after taking ten years off to raise her children. Additionally, she took the big s
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ep of accepting a sales position with a telecommunications company. She attends many networking events where she meets people she needs to know, but doesn
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
t know how to turn those first meetings into many more.
Tiffany will triumph if she takes a step back before moving ahead. Her method of networking is mi
Tiffany will triumph if she takes a step back before moving ahead. Her method of networking is mi
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
sing the important factor of planning. Having moved in reverse, she can stop to ask herself, "What am I trying to accomplish?" Once she determines the go
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
l, then and only then, can she move forward. Some questions she might ask herself are, "Who am I trying to meet? What do I want to do with these people?
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
What measurable goals do I want to target for each event?" The answers will help her to determine and focus on the next steps in developing the relationsh
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
ips.
"Knowing who I want to talk to is one thing, but how do I make that happen?" asked Tiffany. She was delighted to be told the secret that she doesn't
"Knowing who I want to talk to is one thing, but how do I make that happen?" asked Tiffany. She was delighted to be told the secret that she doesn't
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
have to do it all by herself. First she needs to set an attainable goal. It's really better for her to meet two or three people in depth, than to take do
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
ens of business cards to her office where they will gather dust on her desk. Tiffany also needs to asks herself, "Who am I trying to connect with?" Beyon
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
that, she’ll want to know if she should be meeting prospects, or people who can refer business to her. While Tiffany may not know names of people she wan
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
s to meet, she can at least have categories or professions of people to begin the process.
For Tiffany, her prospect is a owner of a company with 50 – 200
For Tiffany, her prospect is a owner of a company with 50 – 200
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
employees. To be introduced to her prospects she could talk with the person in charge of the event to learn the names of people attending who fit that des
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ription. Taking one additional step, she could ask the event organizer to introduce her to these people. Tiffany found out that if she takes her appointm
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ent book with her she can eliminate that dreaded question of, "How much time do I let go by before calling them for an appointment?" She now has a goal to
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
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
walk out of the networking event with two new appointments in her book. Even better, she doesn't have to play telephone tag.
There are two lessons to be
There are two lessons to be
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
earned from Tiffany. Networking, just like any other marketing, needs to have a plan. Answers to the questions of who, how many and how are necessary? T
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e second lesson is that if you don't know who you want to meet, you won't know when you're standing right in front of them. It's as simple as that. Witho
.
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
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
t the plan, you could meet your most promising prospect, but let them slip through your fingers, because you're not aware that they are a prospect.
Before
Before
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
attending your next golf outing, social/charitable event, business after hours, or even the family wedding, make a plan, because plan will give you results
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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