Main Subject - Business

If you are like most business professionals you have attended a networking meeting where you are asked to describe your bus

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

iness, how it works and what you can do for a potential client in 60 seconds or less. As I attend these meetings, I see man

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

Examples of combination products may in

competent professionals stumble because they try to say too much. Wrapped up in describing what they do, they lose sight

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

of the real goal – leaving a memorable impression! So ask yourself, what can you say in 60 seconds to get noticed and be re

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

embered?

Their pain is your gain! Metaphorically speaking, pain is the ideal way to connect to a potentia

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

Combination pro

l client. I am not recommending that you kick someone in the kneecaps; it might get their attention, but not their business

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

The pain on which you should focus is the pain your product or service resolves. Use your 60 seconds wisely, filling the

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

time with memorable and emotional words as well as expressions and body language to help the listener feel the pain, and un

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

erstand your solution.

Identify your target customers. You may be speaking with someone who doesn’t need

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

your services. In this case, clarity and the ability to visualize the pain and your solution are even more critical becaus

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

the individual may be a link to your next client. He/she may know of a colleague or family member who could use your help.

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

Following aspects would a

The clearer the description, the easier it will be for the listener to make the connection.

Use your voice!

dd to the challenges in developing combination products:

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

Varying your voice not only makes more of an impact, it captivates the listener. Think back to the last time you heard

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

someone talk about his business in a monotone fashion – did his product seem interesting enough to buy? Of course not – and

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

you’ve already forgotten his name! Don’t let that happen to you! Stand with your feet firmly planted on the ground to soun

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

more authoritative. Accentuate your pitch and tone to demonstrate confidence and excitement about your product/company. S

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

Professional from academic institutions, pharmaceutical industries, health care indust

ound out the emotion you are trying to illustrate.

Practice Makes Perfect. Help yourself and your business

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

revenues by practicing with friends and family to improve the impact of your delivery. Experiment with different words and

.

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

tone, until it feels just right. Everyone can create his/her own Best 60-Second Commercial. Begin by focusing on your targ

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

Companies that provide selfless information through particip

t customer, their pain, and your solution. Then practice, practice, practice and discover how to make time fly!

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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There are no secrets when it comes to winter driving. If there's ice on the road, it's dangerous. The big truck flying past you at 55 mph when everyone else is crawling along at 15 or 20 mph doesn't have the inside track on the winter roadways. You're liable to see him in the median a few miles up the road.

Business results are always best when you take the time to become friends with customers and others you encounter in business.

A closed-ended question is one that requires the respondent to make a selection from a list of responses. The primary advantage of closed-ended data acquisition questions is simply the avoidance of many problems that open-ended questions pose.

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