Main Subject - Business

Are you looking for events where you can meet people who might be interested in your products and services?

If yes,

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

then you're looking for "prospecting" -- not "networking" -- opportunities.

I make this distinction because networ

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

Examples of combination products may in

king and prospecting are two different things. And attending networking events may or may not be the best wa

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

to *meet* prospects. However, networking events can help you *find* the right prospects or prospecting ev

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

ents.

Here's what I mean:

If your objective is to find prospective clients or customers, you can

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

Combination pro

o this either directly or indirectly.

If you knew exactly where to find your prospects, you would go there and meet

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

them and talk with them directly. This is prospecting.

If you didn't know where to find your prospects, or needed

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

elp connecting with them, you could use the help of other people to reach them. This indirect approach is otherwise

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

known as networking!

So here are 3 steps to finding "real" prospects through networking:

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

>Be very clear in your mind about your ideal prospect. Why is this important? Because you need to be able to explain

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

this succinctly to others who may be in a position to help you.

Identify the kinds of people who might be

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

Following aspects would a

able to help you -- these are people who may either know or have "access to" your prospective clients or customers.

dd to the challenges in developing combination products:

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

Then find out where you can meet such people.

Ask these people for their help, when you meet them

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

. Describe the kind of prospects you're looking for; ask them to introduce you to prospects when appropriate; and a

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

k about events and opportunities where you might have a chance to meet your prospects directly.

So what

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

exactly are you doing here?

You are asking people -- and only those who are in a position to help you --

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

Professional from academic institutions, pharmaceutical industries, health care indust

or very specific kinds of help.

You are asking them to find and send you qualified leads and referrals. A

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

nd you're asking them to help you identify good prospecting events and opportunities, given your target market.

Do

.

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

ou see how networking and prospecting are not the same thing? And do you see how networking can help you with prospe

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

Companies that provide selfless information through particip

cting?

For more on networking easily and successfully, take a look at the Effortless Networking program and website

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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