Main Subject - Business

Memorial Day has just passed marking the beginning of summer. Summer is the season of graduations, weddings, barbeques, vacations and networking!

Have

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

you ever considered that these summer events put you in front of a whole new group of contacts or people you haven’t seen in awhile? Are you prepared to

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

Examples of combination products may in

leverage this networking opportunity for what you can give and receive? A simple networking strategy can make this a profitable and social season.

<

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

b>Know What You’re Going to Say

Isn’t it true that when attending any event, one of two questions will be asked? If you know the person, they will

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

sk “By the way, what are you up to these days?” If you’re meeting a person for the first time, they will inevitably ask you, “So, what do you do?”

Ex

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

Combination pro

perienced networkers know that this is the perfect opportunity for a marketing sound bite aka elevator pitch. The key is having a sound bite that is inf

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

ormative and flexible for any situation. Studies also tell us you have 10 seconds to make a good first impression. Are your first 10 seconds of words

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

n intriguing infomercial that appeals to their curiosity and engages them in conversation?

Consider what you usually hear, “I’m still selling insurance

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

.” Or “I sell life, home, auto and health insurance. I also help with financial planning so your kids can go to college. I was the number one agent in

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

my office last year. I can get you a great deal.” Both are sure-fire conversation stoppers with the person asking the question looking for the quicke

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

t exit!

Maybe it’s time to consider a summer infomercial makeover! What about this: “I help people manage the risks of everyday life, recover from the

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

Following aspects would a

unexpected and realize their dreams.” Doesn’t that make you wonder what they really do? Don’t you want to know more about how she helps people manage

dd to the challenges in developing combination products:

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

the risks of everyday life? Aren’t you more inclined to ask, “Wow, that’s intriguing. How do you do that?” The door is open for an authentic conversat

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

ion that builds a relationship and offers benefits to both parties.

Know How You’re Going to Follow-Up

The other key strategy is to have a foll

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

w-up plan. The over-arching principle of networking is building and maintaining mutual valuable relationships. People do business with, and refer busi

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

ness to, people they know and trust. That relationship must be cultivated.

The best way to cultivate a relationship is to simply stay in touch. Whether

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

Professional from academic institutions, pharmaceutical industries, health care indust

re- connecting with a past acquaintance or meeting someone for the first time, send a short email, or even better yet, a hand-written note letting the

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

know how great it was seeing them. Be sure to include something memorable from your conversation and a business card. Or set up a time to get togethe

.

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

r for coffee to continue the conversation started at the social event. Having a follow-up plan makes it more likely that follow-up will be done!

By t

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

Companies that provide selfless information through particip

aking some thoughtful time now to plan what you will say and how you will follow-up will make this summer social season your best networking season ever

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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Are you thinking about starting your own business? Or are you really new in your business? Are you confident you have what you need to succeed? Check out this article to see if you have the right formula.

Advertising Specialties are usually small but useful products that carry the name and logo of the company. These everyday products could be caps, coffee mugs, mouse pads or pens for that matter. Advertising Specialty Pens are gaining importance because pens are products used by everyone and for long durations of time. Advertising Specialty Pens have taken the advertising and brand recognition to the next level. Nowadays everyone wants to promote his or her company in a big way. For this they make use of all the available options so that maximum market could be captured and all at one go.

Introduction The role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in...

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