Main Subject - Business

How many ineffective or embarrassing things do you find yourself worrying about doing in business networking? W

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

ith likely dozens of mistakes that many of us at time make in business networking, there are remedies for even

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

Examples of combination products may in

the regretful, the ineffective and sometimes embarrassing ones. Regardless the reason for your networking reluc

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

tance, here are three more faux pas with easy to act on solutions.

I wait until I don't have any business p

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

rospects; then I get out there!
- Networking is not about selling. Does that take the edge off? Networ

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

Combination pro

king is about making contacts with potential clients or connecting with people who can connect you to clients.

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

This takes time. Have a networking plan that you can regularly commit and act on - over time, not just when yo

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

u are desperate. Then you%u2019ll attract people who want to do business with you when you need them.

I am

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

too shy to approach people.
- Are you shy or introverted? Are you hesitant to start sales conversation

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

s? One reason is we may think we are the only one at a networking event to get %u2013 a business referral, a co

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

ntact, a job. Instead, this is the truth: everyone is there for the same reasons %u2013 or because a boss sent

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

Following aspects would a

them. Accept this and be prepared with a question or two to start a conversation; then approach smaller groups

dd to the challenges in developing combination products:

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

or others who are hanging around the edge. Be prepared to answer the same questions.

I forget to followup o

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

n promises I make to people at events.
- Two revealing statistics: 45% of all leads result into a sale

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

for someone and over 50% of sales lead are never followed-up. There is less competition for you if you do fol

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

low-up! Decide who you most want to start a relationship with and focus on connecting with them for lunch or s

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

Professional from academic institutions, pharmaceutical industries, health care indust

omething for more discussion. Mail a handwritten %u201Cgreat to meet with you,%u201D note, within 24 to 48 hour

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

s. Then follow-up with a telephone call to meet with or talk further with people you made promises.

If you alw

.

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

ays get what you have always got, then before your next networking event, be prepared with these more producti

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

Companies that provide selfless information through particip

ve, relaxing and confident approaches to get better results! Be on the lookout for the next Networking Faux Pas

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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One of the most commonly overlooked opportunities in creating effective direct mail, is the real estate inside the envelope. Frequently, marketers will spend many hours crafting a perfect teaser line or developing a compelling intro to a letter only to stuff it into a default outer envelope.

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