Main Subject - Business

Most folks know that networking is a key to success. We want and need to know people with whom we do business, and most of us enjoy meeting new pe

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

ople for our social circle as well. No "networking" event is, in and of itself, worthwhile. It's what happens afterward that makes the difference

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

Examples of combination products may in

. Networking isn't about getting business on the spot, it's about developing relationships that will lead to business, directly or indirectly, dow

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

n the road. Networking almost always requires the long-term approach.

But how do you begin?

Joining a “networking group” can be an intimidating

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

step, but it doesn’t have to be. Here are some basics to get you started.

Make time and do it. "Someday" and "later" have a way of nev

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

Combination pro

er happening.

Be prepared with something to say. Know what the big news story is, the key sports results, and have a positive or though

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

tful comment.

Be prepared to introduce yourself in 15-20 seconds. Without stumbling. This is usually called the "elevator speech." Ma

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

ke it interesting. If it's boring to say, it's boring to hear.

Carry business cards and have them easily accessible…..

….But

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

don't offer indiscriminately them at the beginning of a conversation! It's far better to chat for a while, to know someone about the person, and t

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

hen to ask for his or her business card. What if, horror of horrors, they don't reciprocate and ask for yours? Not a problem. Send them one when

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

you follow up after the event.

When someone offers you a business card, look at it before you put it away. A card is our tangible per

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

Following aspects would a

sona. Notice it, accord it due respect, and then carefully put it away.

Pay attention to the conversation. Don't be one of the "power

dd to the challenges in developing combination products:

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

networkers" always looking over the shoulder of your conversational companion, looking for someone more interesting.

Listen. Really l

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

isten. When your companion is talking, that's your signal to listen to what they're saying, not to be composing your witty rejoinder. Listening i

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

s the antidote for nervousness, especially for introverts, because your entire focus is on the speaker – and his focus is on himself, too! <

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

li>Think about how you can help the person you're talking with. Make a contact, offer a lead, or just ask how you might recognize a terrific poten

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

Professional from academic institutions, pharmaceutical industries, health care indust

tial client/customer for her.

Don't assume someone you're talking to can't help you. A conversation may not lead directly to business,

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

but you have no idea who that person may know or where they'll end up next.

Set your intentions before you go (i.e., I will leave with 3

.

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

business cards of people I plan to contact again). And aim for quality over quantity.

Follow up afterward.

If you use t

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

Companies that provide selfless information through particip

hese tactics, your first networking meeting will be a successful and, perhaps, even an enjoyable event that will encourage you to keep coming back.

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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If your company is giving back to communities and to causes, you expect that your contributions are making a difference. However, the ONLY way to be assured that your dollars are doing good is to evaluate your charitable giving. Expecting it to do good is not enough. You must measure your giving just like every other aspect of your business. Read more to learn how.

We all have to deal with critical people at times. You know the type - the person who can spot a flaw from across the room, gives unsolicited advice, frequently complains and passes judgment, is negative and seems impossible to please.

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