Main Subject - Business

Networking. What an overwhelming concept it can be at first. When starting up a business one marketing strategy is “networking,” when laid off and searching for empl

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

oyment one strategy is “networking.” You might be wondering what exactly “networking” is. Well, networking is: Interacting or engaging in informal commu

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

Examples of combination products may in

ication with others for mutual assistance or support.

When I think of networking the first thing that comes to mind is “I don’t know anyone”.

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

Ok, I do know some people. So I get my pen an paper and eventually come up with a list of names of people. The next step of personal fear is when I go into the “I do

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

’t want to impose on friends” mode and find myself back at square one. Networking is not imposing. What you may consider imposing can turn out to be a win/win situat

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

Combination pro

on. If you are looking for a new position you may network with a friend that has a position open in her company. This company may have a referral award and if you ge

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

t the job your friend gets a bonus. A nice word from a friend and a company may be filling an open position with a competent employee, you. As for businesses, you m

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

y have services the people you network with actually need and can benefit from. You may find the people you have chosen to network with may have services you can use a

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

well. So free your inhibitions and network! Take this list and give them a call, be upbeat, let them know of your circumstance and move on to the next contact.

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

Where do you start? First take out a pen and paper and start listing friends and family. Add the ex co-workers. Do you patronize any business where you chat w

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

ile doing business? (Example hairstylists, the person at the espresso bar you talk to while getting your morning coffee), college/alumni buddies, church or social act

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

Following aspects would a

ivities? This list will get you started but don’t stop there. Be creative. Do you go to PTA meetings? Collect business cards!

Second, be prepared. Keep

dd to the challenges in developing combination products:

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

a folder in the car of resumes or brochures. Keep a healthy stack of business cards with you. Develop a verbal presentation. If it is for employment, be creative an

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

prepared in ways to approach the subject of possible openings. If it is business related, have a verbal description of what your business is and how you can (and hav

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

) benefit others. When you are at that hairstylist, during the course of a casual conversation you may bring up you were laid off (or you have a virtual assistant bus

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) a simple “May I leave my resume with you? If you hear of someone needing my qualifications you can pass it on” (or business cards/brochures if networking for y

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

Professional from academic institutions, pharmaceutical industries, health care indust

our business). Leads can come from the simplest of situations. Having your "marketing you" speech prepared will take most of the fear out of approaching others and

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

ake networking not such a scary concept.

You will find that most people are more then willing to help out. If you find someone who passes your information

.

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

ack, don’t take it personally and move on to the next individual. Through your information someone else may benefit. It never hurts to ask, but you will never get a

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

Companies that provide selfless information through particip

es if you don’t ask. You never know, the people on the list you are networking with may use you for their networking needs in the future, so get out and network today

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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