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Here’s the Scenario – There is an attentive attendee in front of you. You two have chatted for a couple of minutes and now he says –

o Sounds good. How much is it ?

o What

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

will the maintenance contract cost me ?

o What are your financing options over 3 years?

o What’s the best deal you can give me ?

o What are the dimensions of these three mod

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

Examples of combination products may in

ls?

o Can you up the capacity 14% ?

o How many hydraulic spring return actuator for 3200 psig do you have in stock ?

WHAT TO DO?

Many folks fluster around if the question

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

s not part of their direct expertise. Maybe you are an engineer but don't know inventory levels or financing details. Maybe you know those answers but not the intricacies

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

of engineering ABCs.

You certainly do not want to look bad, so perhaps you come up with a quick retort or bluff or just lie. You figure maybe he won't remember what you sai

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

Combination pro

, or you will have time to get the right info to him after the show. Chances he will. You will not.

On the floor, Numbers may be money, parts identifiers, chemical formul

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

s, shipment documentation, production schedules, or the time to meet for a drink. Numbers float around and it is easy to fall into a Numbers Trap.

TRY THIS QUICK QUIZ. Afte

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

r you take it, read it out loud to your fellow staffers. Allow 15 seconds for an answer.

Q –
EVERYBODY KNOWS that 80% of leads are not followed up. Your company is ty

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

ical. You want to increase the number of leads you follow up after the next show by 50%. For each 100 new leads, how many more people will you have to contact?

A -

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

ive more people?
Ten more people?
Twenty more people?
Fifty more people?

ANSWERS
Everybody knows that 80% of leads are not followed up. Your company i

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

typical. You want to increase the number of leads you follow up after the next show by 50%. For each 100 leads, how many more people will you have to contact? The answer

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

Following aspects would a

is:

Ten more people

One of the most critical skills you bring to a trade show is your ability to listen and process information quickly. This question says that everybody

dd to the challenges in developing combination products:

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

nows that 80% of leads are not followed up - but people have difficulty processing quickly what that means in terms of increasing business. This is a simple word problem.

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

percentage 100% - 80% = 20%
peopletage 100% - 80% = 20

If 80% of leads are not followed up, that means 20% are followed up. So, for every 100 leads, 20 people are cont

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

acted. To increase that number by 50%, take 50% (one-half) of 20.

You need to contact 10 more people to contact after the show for each 100 people you consider a lead.

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

Did you select another answer?

Five more people

is 1/2 of 1/2 of 20.

Twenty more people

This is the number of people you currently contact.

d. Fifty more people

Did you c

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

Professional from academic institutions, pharmaceutical industries, health care indust

nfuse 50 percent with 50 people?

Lessons Learned -

1. We're used to seeing numbers written down, not listening to them and putting them into context quickly. Speak slowly

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

when using numbers.

2. Be careful when throwing around "everybody knows..." statements. Unless you can confirm information, it is gossip.

3. Be especially careful when any

.

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

kind of numbers, percentages and prices are used in conversation. You don't want to have to correct a misunderstanding when the prospect thought you said "50% discount" an

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

Companies that provide selfless information through particip

you really said, "$50 discount."

GASP – that 80% nugget has been around for years. More trade show research at the Center for Exposition Research Institute - www.CEIR.or

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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Like it or not, the reality of running a business in today's world is that you will always have some people leaving to take up other job opportunities - no matter how great your staff retention strategies. But the way you handle a resignation can have a direct impact on how much staff turnover you experience thereafter.

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