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Business Development 101. We see lots of companies out there that decide to go through third party channels in order to take their products to market, yet neglect to put the necessary resources and structure around bui

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

lding, deploying, managing, and executing this third party channel strategy. Those companies assume that by outsourcing the sales of their products of those third party channels, they don't need to invest in providing

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

Examples of combination products may in

the support or infrastructure or services or training to those channel partners in order to make them a success. Well, companies that have been in the business of successfully growing their companies through third part

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

channels know better.

The best practices today for channel development and business development and channel management really call for a very proactive, targeted, systematic approach to managing those resellers and th

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 companies that are out acting as channel partners for your product. Back in the dot bomb days, there were lots of companies that were looking for strategic partnerships and signing them up in droves, yet not getting

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

Combination pro

ny traction from any of those relationships, and spending a lot of time and resources trying to create them, only to find out that they didn't actually bring them any business. In today's day and age, channel developme

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

nt and business development is all about execution. And so, if your company is trying to grow, and trying to use those third party channels to do so, it has to take a more realistic approach about what it's going to ta

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

e in order to get those channel partners to sell your product through to your end user customers.

Building a system of services, support, lead generation, training, field sales, partnering, and marketing for your chann

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

el partners is absolutely critical. The best companies are even offering channel marketing portals, where they can distribute collateral and work in a distributed model with CRM, in order to share leads, track them, 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

make sure that they're automating the whole process of partnership with their channel partners. So, companies that are doing a great job of building sales through third party distribution channels, in today's day and

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

age, are the ones who are taking a proactive, investment approach to building, managing, and winning their distribution channels away from their competition. Many companies that are suffering in the channel development

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

Following aspects would a

or business development area have old relationships that aren't producing. If your company is in that situation and is stuck with a group of manufacturer's reps, system integrator, VARs or OEMs or other types of resel

dd to the challenges in developing combination products:

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

ers that aren't producing any sales for your company, there is a way out.

Sometimes, in order to make your way through that process though, it's best to bring in an outside resource to help you to do an independent ass

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

essment of your channel partners and help you to take your channel relationships through radical change. The process of building and maintaining a high performance, third party distribution channel network is one of pr

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

ning and tuning, constantly looking at which companies are producing and performing and building them up and constantly looking at the ones that are not and figuring out how to put them on a corrective action plan, or c

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

alling them out of your distribution channel network and replacing them. Working with resellers for your products is much like working for your own direct sales force. And the more that you view them as a resource tha

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

Professional from academic institutions, pharmaceutical industries, health care indust

is under you control than one that you have to influence through your management tactics and through your support services, the better chance you'll have of actually turning them into productive channel that actually d

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

rives revenue into the door for your company.

Many companies make the mistake of hiring resellers for their products and then leaving them to their own devices. A lot of times this is done in the international arena,

.

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

nd all of us know that this is a common mistake that can be corrected, but it requires dusting off your business development playbook and taking a fresh look at who you're distribution channel partners are, where they'r

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

Companies that provide selfless information through particip

e at, whether or not they can take you where you want to go, and what's it's going to take to take your channel relationships through change, in order to get the revenue and product growth that you want for your 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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