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Digg It - Negotiation: Sometimes That Item is Worth the Full Asking Price!
Most people foster an image of the expert negotiator as the one who seems capable of getting a discount on anyth
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
ing.
“Joe, you’re going to need bypass surgery right away, and it will cost about $10,000.”
“Doc, is that the
“Joe, you’re going to need bypass surgery right away, and it will cost about $10,000.”
“Doc, is that the
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
very best you can do?”
“Okay, Joe, just because it’s you, I’ll do it for half.”
Of course, savvy negotiators d
“Okay, Joe, just because it’s you, I’ll do it for half.”
Of course, savvy negotiators d
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
o better than others when it comes to the give and take of bargaining, but sometimes the very best at the game w
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ill tell you that they AREN’T necessarily looking for a discount.
In fact, sometimes they’re more than happy to
In fact, sometimes they’re more than happy to
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
pay the retail price.
As a kid, I was a coin collector, as were some of my tightest friends. We memorized each
As a kid, I was a coin collector, as were some of my tightest friends. We memorized each
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
other’s collections, and the values of those coins in the annual red books that were published.
One day, Denni
One day, Denni
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
s and I were walking in our town’s local shopping area, and we went into a hobby shop. To our surprise there was
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
a new display of coins, including two rolls of brilliant un-circulated World War Two vintage pennies.
As you m
As you m
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
ay know, they look like steel because copper was in short supply during the war.
We asked to see them and the c
We asked to see them and the c
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
erk retrieved them. On the side of each clear plastic roll it said $2.50. We thought that was a lot for each pen
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ny, but as it turned out, they were selling 50 coins for $2.50, so it was, miraculously, only five cents each.
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
We didn’t bargain. Instead we rushed home, got some money and ran back and bought them.
If you KNOW something i
If you KNOW something i
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
s a steal, then hard bargaining is foolish. Why run the risk of so turning-off the seller so that you end up wit
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
h NO DEAL?
The other night at a UCLA faculty dinner I was talking to a colleague who teaches Finance, and he me
The other night at a UCLA faculty dinner I was talking to a colleague who teaches Finance, and he me
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
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
ntioned that his mainstay is investing in real estate. Without any prompting, this very sharp and experienced gu
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
y mentioned that he’ll make a full-price offer on a property “Just as the for-sale sign is being planted in the
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
lawn.”
He wants to be “the fastest with the mostest,” as one entrepreneurial slogan puts it.
Of course, and th
He wants to be “the fastest with the mostest,” as one entrepreneurial slogan puts it.
Of course, and th
.
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
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
is is essential, he has done his homework and he knows neighborhood values, just as my friends and I knew coins.
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
Don’t make the mistake of believing that you must get something off to feel you have achieved an excellent buy
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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