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Main Subject - The Sales Carpenter
I remember moving my family to Argentina as Vice President of Sales for Latin America. I was in charge of managing five regional offices, Argentina of course be
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
ing one of them.
In the company’s ten year history of selling into Latin America it had never exceeded $14 million (M) in annual sales. The Argentina office it
In the company’s ten year history of selling into Latin America it had never exceeded $14 million (M) in annual sales. The Argentina office it
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
self had never produced more than $400 thousand (K) in sales. My task was to increase the sales locally in Argentina, but more importantly throughout Latin Amer
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ica.
I remember sitting in my office one day, looking out the window and wondering, “How the heck am I going to grow this business with problems in Mexico, Braz
I remember sitting in my office one day, looking out the window and wondering, “How the heck am I going to grow this business with problems in Mexico, Braz
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
il, Puerto Rico and other hot spots? “How can I grow this business beyond $14M when no one in the past has been able to do so?” Forget the movie Sleepless in S
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
eattle, I was “Sleepless in Argentina,” trying to map out a strategy. How would I make “sales” happen?! ”
A confession to you the reader: I was scared! Please
A confession to you the reader: I was scared! Please
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
don’t tell anyone!
One day while on the phone with a customer, I heard loud noises from across my office building. After getting off the phone, I opened the w
One day while on the phone with a customer, I heard loud noises from across my office building. After getting off the phone, I opened the w
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
indow and looked at the shorter building next door. On the rooftop, I saw several men using a scrapping machine to rip apart the flat roof the size of two tenni
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
s courts. This noise went on for days.
Then one day I noticed the silence. I looked outside and discovered that the men had finishing stripping the rooftop an
Then one day I noticed the silence. I looked outside and discovered that the men had finishing stripping the rooftop an
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
d were now laying small ceramic tiles. Given the size of the roof I remember thinking, “That’s going to take them a very long time.”
A few days later to my sur
A few days later to my sur
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
rise and amazement I looked outside and saw that they were three-quarters of the way complete. “Amazing! How were they able to lay so many small tiles so quick
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ly?”
Satori,… a moment of enlightenment.
At that very moment, a new mindset was born for building sales. Instead of focusing in on the enormous task of increa
Satori,… a moment of enlightenment.
At that very moment, a new mindset was born for building sales. Instead of focusing in on the enormous task of increa
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
sing sales for the entire region (the whole roof), I would focus on building the company’s sales slowly (one ceramic tile or sales office at a time).
It was thi
It was thi
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
s paradigm shift, this Latin American version of eating an elephant one-bite-at-a-time that helped me maintain the patience and sanity needed to grow the busines
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
s. I considered each country in Latin America a “tile.” I set out to make sure that each tile I laid was positioned correctly in the marketplace. The result?
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
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
First year, we hit $14.3M. Second year $45M. By the end of the third year, the region’s annual sales had grown to $98M. The Argentina office itself went fro
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
m $400K in sales to $5M.
Success, in sales and in life, starts when you break things up into smaller pieces; you begin to feel a sense of control. And as I beg
Success, in sales and in life, starts when you break things up into smaller pieces; you begin to feel a sense of control. And as I beg
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
an to take action, I began to feel a sense of momentum. Control and momentum became my engine for success. And every time I felt overwhelmed or anxious, I thou
.
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
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
ght to myself, “Victor, let’s just lay one tile at a time.”
Confucius said, “It is not a matter of how fast or slow, but simply a matter of you moving.” I lear
Confucius said, “It is not a matter of how fast or slow, but simply a matter of you moving.” I lear
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ned that progress or success never happens overnight, but over time…one tile at time. I learned how to become a sales ‘carpintero’ (carpenter who builds things)
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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