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Digg It - NACS 2006 Trade Show Review
I visited the NACS, National Association of Convenience Stores, this past week. It is a trade show and conference event for everyone inv 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 olved in selling to or running convenience stores. If your beverage or other product can be sold at convenience stores, this show is fo ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in r you. It is visited by buyers from distribution companies, convenience stores and supermarkets. First of all you need to know that th lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. e exhibitors at this trade show are not convenience stores. Instead, they are all suppliers to convenience stores. Many people believe 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 7-Eleven, Circle K, Valero, Shell, Chevron, Safeway, Albertsons, Walgreens, Supervalu, AVC, or Kroger will be exhibiting their own d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro booths, allowing you to go and talk with them or sell them your products. This is not the case. If you want to sell to distributors o 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 r retailers at the show, you need a booth. Retail stores don't exhibit at the NACS, suppliers to these stores or companies that want to 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 be suppliers to these stores have the booths. Buyers from convenience stores and even distributors are the ones walking the floor look nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ing for new products. On the beverage side you see exhibitors like Rockstar Energy Drink, Monster Energy Drink, Red Bull Energy Drink, 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 Fiji Water, Fuze, Clearly Canadian, Coca Cola, Pepsi Cola, Budweiser Beer, Miller Beer, and many other new and existing brands. If you ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi plan on having a booth you will talk to small and large distributors and retail stores that come to your booth and probably end up with ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a many leads and hopefully some sales. If you are there to walk the floor you will see what many other manufacturers or product brands ar dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod e doing, their new products, and how they are selling to retailers and wholesalers. A great strategy whether you have a booth or not is cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin to make appointments. This is true not only for this trade show but any other. This is a strategy I've used for years with great succes tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen s. I call, mail, email, or fax all my contacts and leads before hand and let them know that I will be attending a particular trade show 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 . The result is that my schedule is packed with sales meetings as it was at the NACS this year. When you get back to your office don't ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust forget to follow up with all your contacts. Follow up by email first instead of phone. Most of your contacts will be busy with their c y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ontacts and getting back to the normal office hustle after being out of the office for a couple of days. After you follow up by email w . 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 ait a week and call them to continue your sales or buying process. This year's NACS show in Las Vegas was a good one, organized a littl elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip e differently, for the better; it was much easier to find what I was looking for, in this case, point of sale material and distributors. 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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