Main Subject - Business

When I walked into Dallas’s famous Y.O. Ranch Steakhouse, all I wanted to do was to enjoy my New York Strip steak, relax and quietly review my notes for the following day’s speech. Little did I know that a valuable business lesson a

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

waited me at the table.

The only other customer in the bar was a guy sitting in the corner pounding away on his laptop. He didn’t look up when I walked in. The bartender on the other hand noticed my nametag when I arrived and yell

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

Examples of combination products may in

d, “Hey Scott! Grab a stool and have a drink!”

I walked over as he flung a coaster down and said, “What’ll you have?”

“Actually,” I said, looking at that man in corner, “I have some work to do. Is it cool if I grab one of those 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.

rner tables over there?”

“Sure, sit wherever you want,” he said.

I sat down at the table caddy-corner from Mr. Laptop. He had one of the new Apple G5’s. Nice computer, I thought. Briefly peering over at his screen, I saw

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

that he was working online.

“Excuse me, but do you get high speed access in this bar?” I asked.

“Yeah! I’m set up with a wireless system. And it’s nice because I’d rather work here than in my hotel room.”

“Oh yeah, I know the fe

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

Combination pro

ling,” I replied. “That’s why I came here too.”

Pointing down at my nametag, he asked what convention I was attending. I smiled and told him, “Actually I always wear a nametag. It makes people friendlier and more approacha

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

le.” He chuckled, as most people often do when I give them my standard answer to this frequently asked question.

“Well Scott, it certainly worked on me! My name is Joachin. It’s nice to meet you.”

Joachin was a tech consultant f

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

rom Orange County. He also flew in for the day to give a speech to one of his clients. Not surprisingly, we clicked instantly! And for the next hour, Joachin and I had one of those rare stranger conversations that covered just abo

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

t every topic you could imagine. It was like we were old friends! And both of us seemed to have forgotten all about the work we’d each brought to the restaurant.

God I love it when that happens, I thought.

The more we got

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

o know each other, the more it felt like our conversation could have lasted for hours. But it was getting late, and we both had big days ahead of us. So, after exchanging business cards and agreeing to drop each other a line someti

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

e, Joachin left and returned to his hotel.

Wow! I’m so glad I talked to that guy! I said as I grabbed the notes for my speech. And as I took another bite of my steak, I also thought to myself, now wait a sec – something

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

Following aspects would a

just happened here...

One of the principles of communication I often discuss in my workshops and books is called “Sitting With The Right Company.” This idea reminds us that every new encounter represents a choice. For instance

dd to the challenges in developing combination products:

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

we can walk into a meeting, a party or even a restaurant and immediately seek out the easy seat. That seat could mean sitting all by ourselves or perhaps with a group of people we already know.

You’ll notice this will happe

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

a lot at networking functions. Employees from the same company – who work together 8 hours a day, 5 days a week, 50 weeks a year – will always sit together.

Because it’s comfortable.

But sometimes, a temporary sacrifice in comfor

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

t is worth the value of the conversation that otherwise would not have existed. Sometimes you’ve just got to throw yourself out there. Sometimes you’ve got to break the silence and step onto the front porch of someone new.

Because

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

you just never know. You never know whom you will meet, what you will learn or how it will reciprocate. Unfortunately, too many people are held captive by this comfort. And it is those people who are missing out on opportunities t

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

Professional from academic institutions, pharmaceutical industries, health care indust

enhance the net worth of their social capital. Sure, it’s easier to talk to people we already know. But there’s also something to be said for digging your well before you’re thirsty.

After I paid my check and hopped back into the

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

cab, you couldn’t wipe the smile off my face. The cab driver probably thought I was drunk! But for some reason, the conversation I had with Joachin gave me more energy than the seven dinner rolls I’d just eaten!

And MAN that was

.

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

eautiful.

Now, will we become life long friends? I doubt it. Business associates? Certainly, that's a possibility. But...will we either of us regret spending our meal talking and connecting with an exciting new per

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

Companies that provide selfless information through particip

on instead of sitting alone in a corner burying our noses in work?

No way. And in the end...

I was SO glad I didn’t sit at the bar. I was SO glad I didn’t work on my speech. And I was SO glad I DID sit with the right company

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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Searching for job can be brutal. It is a full time effort and considering that the average job search for an executive is 3-6 months, it can become exhausting, not to mention extremely stressful.

Machine shops are manufacturing units that produce specific machinery. They can be either small scale or big companies. A person or a company already involved in this field is sometimes interested in taking over another machine shop that is for sale. The shop on sale could be so because of its non-performance, lack of productivity, or labor problem. It could also be due to a personal problem of the owner.

Some people call a meeting at the drop of any problem. And the result is often a complete waste of time. Here's what to do instead.

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