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Main Subject - Powerful Networking with an Effective Introduction
You're sitting in a room full of eager business owners at a networking event. One by one, everyone stands up
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
and introduces themselves, hopefully gaining the opportunity to find one or two new prospects in the crowd.
; 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
Unfortunately, most business people stink at Introductions.
Take for instance the remarks made at a recen
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
event I attended. A hotel sales rep introduced himself and stated that his hotel offered beds, meals and me
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
eting rooms. Oh really? How many hundreds of hotels offer that, I thought. What he said was essentially the
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
same introduction used by all the hotel sales people in the room that day.
What if one of them had said som
What if one of them had said som
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
thing like this?
"Hi, my name is Bob, sales manager with Big City Hotel. Sure, we have meals and beds and m
"Hi, my name is Bob, sales manager with Big City Hotel. Sure, we have meals and beds and m
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
eeting rooms like all the other hotels. But they don't have Ruth, our front desk supervisor who's been servi
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ng our guests for more than 22 years. Her only responsibility is to help you have an extraordinary stay at o
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
r hotel."
Which hotel has the best chance to get your business? The one with meals, and beds and rooms, or
Which hotel has the best chance to get your business? The one with meals, and beds and rooms, or
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the one with all that, plus a great staff.
And Bob can strengthen his relationship with his audience at the
And Bob can strengthen his relationship with his audience at the
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
next meeting. What happens if he brings Ruth with him and lets her introduce herself during the Introductio
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
s? Talk about making an impression on the crowd! By the time the meeting is over, everyone there will be bes
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
t friends with Ruth.
As good as that is, Bob isn't done yet. He can make a bigger value statement at the ne
As good as that is, Bob isn't done yet. He can make a bigger value statement at the ne
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
xt meeting. This time Bob quickly introduces himself and then plays a short recording:
"Hi, this is Tom, sa
"Hi, this is Tom, sa
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
es director at XYZ Company. We had our annual sales meeting at Big City Hotel a few months ago and it was th
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
e best we've ever had. Ruth and her staff waited on our people and took care of everything we needed. She wa
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s fantastic."
Now that's an Introduction. So the next time you're attending a networking event, can you int
Now that's an Introduction. So the next time you're attending a networking event, can you int
.
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
oduce your value to your audience when you introduce yourself? What is a benefit you can highlight that none
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
of your competitors can claim? What is it you do better than everyone else?
That's the best place to start
That's the best place to start
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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