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Do you have an elevator speech? Does it get people’s attention? Do they ask you lots of questions when you te

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

ll them what you do?

Every great elevator speech needs to answer these key questions:

1. Who am I? (introduc

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

Examples of combination products may in

e yourself)

2. What business am I in?

3. What group of people do I service? (be specific – do you have a nic

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

he?)

4. What is my USP (Unique Selling Proposition)? What makes me different from the competition?

5. What

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

benefits do my customers derive from my services?

Instead of saying this:

Hi - I'm Jean Hanson and I'm a vir

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

Combination pro

tual assistant. A virtual assistant is an off-site administrative assistant . . . (yawn)

Say this:

Hi - I'm

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

Jean Hanson and I'm a virtual assistant. What I do is give my clients more time so that they can grow their bu

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

siness and make more money!

Here are some ways you can enhance your introduction:

-= A good elevator speech

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

needs to be practiced so it rolls off your tongue and sounds perfectly natural. You may feel funny about doing

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

this at first, but try practicing in front of a mirror. Also practice your speech in the car on the way to t

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

he event.

-= Project and speak clearly, but don’t drag. Talk with confidence, pride and enthusiasm. Display y

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

Following aspects would a

our passion for what you do.

-= Use clean and simple language your audience can understand. Don’t use a lot o

dd to the challenges in developing combination products:

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

f technical jargon.

-= Have at least a couple versions of your speech. Many people belong to weekly networkin

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

g groups, so having several different ways of talking about what you do keeps it interesting, so they don’t he

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

ar the same thing every week.

-= Personalize it. Use personal stories your audience can relate to.

-= Use d

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

escriptive words; paint a picture, using hearing and sight.

-= Tell them how you solve your customers’ proble

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

Professional from academic institutions, pharmaceutical industries, health care indust

ms. Give an example of how you recently solved a problem for one of your clients.

-= Talk about Benefits, not

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

Features.

-= Answer their unspoken question – Why should I do business with you?

-= Eliminate the risk of d

.

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

oing business with you (maybe you could offer 2 free hours of service, or 100% money back guarantee).

-= And

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

Companies that provide selfless information through particip

finally, answer this question for yourself: What exactly is the role of my business in the life of my customer

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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FHA aids first-time buyers and those who would probably not be able to pay the required down payment for conventional loans through insuring mortgage to private lenders.

Of course the suspect was arrested and the victim was sent to the hospital, but this is just the beginning of this tragic story. Now the victim has filed a lawsuit against the employer and he is facing heavy fines from the OSHA investigators who were alerted by the victim's family.

Put together one very centralized company, a deserving workforce, several opinionated executives, a little bit of time and what do you get? No, it's not Extreme Makeover: Home Edition, but Extreme Makeover: Organization Edition.

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