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Marketing is an ongoing journey for your business.

That might seem like an obvious

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

statement, but the actions of many small business owners might indicate otherwise. For many

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

Examples of combination products may in

you build a web site, or create a brochure, or go to a few networking events and then you w

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

it for results to happen. Effective marketing rarely works like that.

It takes regular

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

nd consistent effort to keep your pipeline full of good high-quality leads that you can wor

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

Combination pro

k on converting into paying clients. It doesn't have to be an all-consuming effort, but

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

it does take consistent effort.

Here are four ideas for continuously moving your market

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

ng forward:

Study up on marketing. There is no shortage of resources out there

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

ncluding books, audio programs, tele-classes, courses, etc. Look for the ones that offer pr

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

oven, hands-on strategies and tactics, not get-rich-quick schemes.

Form or join a "thin

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

tank" or "mastermind group." Find a group of people who will care just as much about y

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

Following aspects would a

ur success as you do (and that you'll care about their success). This isn't just a group of

dd to the challenges in developing combination products:

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

friends who will tell you what you want to hear, but a group that will hold you accountable

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

and support you.

Attend talks and workshops regularly. If you go an participate fu

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

ly, you'll often get just a much from the other participants as you will from the talk itse

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

f. Brainstorm with those you meet and find out what's working for them in their business.

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

Professional from academic institutions, pharmaceutical industries, health care indust

b>Get hands-on assistance. Working with a marketing coach or consultant who can help yo

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

u focus, set goals, prioritize, create action plans, and help hold you accountable could be

.

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

one of the best investments you make in your business.

Support from outside resources like

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

Companies that provide selfless information through particip

these can help you shift your mindset and make marketing the ongoing journey it needs to be

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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You must be able to define the ultimate goals and find the holes before you can look for team members to fill the void.

A checklist is for more than one reason a tool that will support you when managing your business. “A Simple list,” you might think, but it could mean all the difference.

Geshe Michael Roach is a Princeton graduate and a Buddhist monk. After graduation, he spent seven years studying the wisdom of Tibetan Buddhism. At the suggestion of his teacher, he joined a fledglin...

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