Main Subject - Business

We all talk about networking. We all seem to know that networking has something to do wit

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

h meeting enough folks to continue to build our referral network, which in turn will cont

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

Examples of combination products may in

nue to build our businesses.

Referrals come when someone you’ve met likes you and believ

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

s you can offer the solution to someone else’s problem. So, if the goal in networking is

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

o have someone like us, and possibly offer us a referral, then why do people make the mis

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

Combination pro

ake of engaging in conversations that do not promote relationships?

My mother attended a

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

party last week. She met a radio personality who immediately began talking politics with

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

my mother. As often happens, the two did not agree and a strong debate developed. Both pa

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

ties walked away very unhappy with the other. Neither is going to receive a referral as a

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

result of this meeting.

I personally do not discuss politics with those whose opinions a

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

e strongly different than mine. It’s also not a topic I would introduce to a total strang

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

Following aspects would a

er. No good can come of it.

Another mistake I see folks make is talking negatively about

dd to the challenges in developing combination products:

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

other people. It does not matter if the person is a famous movie star or the neighbor aro

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

nd the corner, when we speak poorly of others, it does not endear others to us.

I am con

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

tantly surprised when I meet people and I later find out they know someone that I know. W

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

at if I had spoken poorly of this person? What if I had said unkind things?

When I meet

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

Professional from academic institutions, pharmaceutical industries, health care indust

new people, I ask about them. I truly want to know about them. My views on politics are n

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

t relevant, nor are my views on the folks next door. What is important is my genuine inte

.

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

est in the person I’m speaking to.

If you truly want to network, in an effort to build y

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

Companies that provide selfless information through particip

ur referral network, then be careful about the topics and people you choose to talk about

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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This article illustrates the importance of not only planning but also learn from past mistakes. The margins for error are getting very slim in this very competitive era. On the one hand, company has to take risks and on the other, it has to reduce its margins for errors by both planning and doing a post-mortem.

You can possibly teach a turkey to climb a tree – but it is a lot easier to hire a squirrel. Quality staffing means selecting the right people with the right skills for the right jobs and at the right time. A good hire can take the weight of the world off your shoulders. A poor one can eat up your time and energy and weaken an entire team. So, why do so many leaders place so many people in so many wrong places? Learn the five key reasons.

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Main Subject - Are You Helping Yourself or Hurting Yourself When You Network?

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