Main Subject - Business

You've had a successful business networking meeting. You've gathered dozens, maybe more, business car

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

ds. You remembered to make notes on the cards to remind you about the person you met. What Now?

Fol

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

Examples of combination products may in

ow-up is important, but before you do that… you need to get organized…

1) Sort through your c

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

ards and split into 3 distinct piles; Hot, Warm and Cold…

HOT: These are t

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

e people who you have arranged to contact, either because they want information from you or you have t

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

Combination pro

ought of someone you can put them in touch with. They are the people you are probably more keen to cr

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

eate a business relationship with.

WARM: These are the people who you believe you c

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

uld do business with, either selling or purchasing, in the future. But you have no strong reason to c

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

ontact them immediately.

COLD: These are the people who have no direct connection w

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

th what you offer; cannot provide a service or product you need and do not easily bring to mind anyone

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

you could connect them to.

2) Take action with the cards you've sorted:

HOT

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

Following aspects would a

: Contact each person and arrange to meet for coffee or a more formal meeting. Or drop in wi

dd to the challenges in developing combination products:

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

h the information he/she has requested from you. Personal delivery makes a good impression.

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

WARM: Write a letter to each person, reminding him/her where you met and what you talked abo

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

t (actually what THEY talked about). Make sure the letter talks about him/her and, if you do mention w

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

at you offer, make sure you write from their point of view and highlight the benefits your service or

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

Professional from academic institutions, pharmaceutical industries, health care indust

product provides.

COLD: There is no reason to keep these business cards – so discar

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

them.

3) Keep a close eye on the progress you make with the contacts whose details

.

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

you've decided to keep… create a chart that shows how you are developing the relationship. (see my ar

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

Companies that provide selfless information through particip

icle: Networking Meetings – Refer, Refer and Be Referred – The Referral Matrix

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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