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The value of a service always appears to go down quickly as soon as those services have been performed. The value of any material object you buy may go up in value over the years, but the value of services always appears to dec

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

line rapidly after you have performed those services.

Power Negotiators know that any time you make a concession to the other side in a negotiation you should ask for a reciprocal concession right away. The favor that you did

; 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 other side loses value very quickly. Two hours from now the value of it will have diminished rapidly.

Real estate salespeople are very familiar with the principle of the declining value of services. When a seller has a pro

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

blem getting rid of a property, and the real estate salesperson offers to solve that problem for a 6 percent listing fee, it doesn't sound as though it's an enormous amount of money. However, the minute the Realtor has performe

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

d the service by finding the buyer, then suddenly that six- percent starts to sound like a tremendous amount of money. "Six percent. That's $12,000!" the seller is saying. "For what? What did they do? All they did was put it in

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

Combination pro

a multiple listing service." The Realtor did much more than that to market the property and negotiate the contract but remember the principle: The value of a service always appears to diminish rapidly after you have performed

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

that service.

I'm sure you've experienced that, haven't you? A person with whom you do a small amount of business has called you. He's in a state of panic because the supplier from whom they get the bulk of their business has

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

let them down on a shipment. Now their entire assembly line has to shut down tomorrow unless you can work miracles and get a shipment to them first thing in the morning. Sound familiar? So you work all day and through the night

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

, re-scheduling shipments all over the place. Against all odds, you're able to get a shipment there just in time for the assembly line to keep operating. You even show up at their plant and personally supervise the unloading of

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

the shipment, and the buyer loves you for it. He comes down to the dock, where you are triumphantly wiping the dirt off your hands and says, "I can't believe you were able to do that for me. That is unbelievable service. You a

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

re absolutely incredible. Love you, love you, love you."

So, you say, "Happy to do it for you, Joe. That's the kind of service we can give when we have to. Don't you think it's time we looked at my company being your main supp

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

Following aspects would a

lier?"

He replies, "That does sound good, but I don't have time to talk about it now because I've got to get over to the assembly line and be sure that it's running smoothly. Come to my office Monday morning at 10 o'clock and

dd to the challenges in developing combination products:

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

we'll go over it. Better yet, come by at noon and I'll buy you lunch. I really appreciate what you did for me. You are fantastic. Love you, love you, love you."

So all weekend long, you think to yourself, "Boy. Have I gotten t

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

his one made. Does he owe me." Monday rolls around, however, and negotiating with him is just as hard as ever. What went wrong? The declining value of services came into play. The value of a service always appears to decline ra

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

pidly after you have performed the service.

If you make a concession during a negotiation, get a reciprocal concession right away. Don't wait. Don't be sitting there thinking that because you did them a favor, they owe you and

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

that they will make it up to you later. With all the goodwill in the world, the value of what you did goes down rapidly in their mind.

For the same reason, consultants know that you should always negotiate your fee up front,

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

Professional from academic institutions, pharmaceutical industries, health care indust

not afterward.

Plumbers know this, don't they? They know that the time to negotiate with you is before they do the work, not after. I had a plumber out to the house. After looking at the problem he slowly shook his head and sa

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

id, "Mr. Dawson, I have identified the problem, and I can fix it for you. It will cost you $150."

I said, "Fine, go ahead."

You know how long it took him to do the work? Five minutes. I said, "Now wait a minute. You're going

.

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

to charge me $150 for five minutes work? I'm a nationally known speaker, and I don't make that kind of money."

He replied, "I didn't make that kind of money either-when I was a nationally known speaker."

Key points to remembe

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

Companies that provide selfless information through particip

r:

The value of a material object may go up, but the value of services always appears to go down.

Don't make a concession and trust that the other side will make it up to you later.

Negotiate your fee before you do the work.

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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Have you ever considered using an advertising mini-blimp to drive sales to your company? As funny as this does sound, they work very well, that is as long as you follow a few simple rules of advertising. You see, Advertising 101 predicts that you need a disruptor to get the customers to take notice. Well a mini-blimp flying over your store, laundry mat, used car dealership or carwash ought to do the trick right?

Looking for skills to help increase career opportunities or enhance current position? Then consider the importance of time, meeting, and project management skills and how gaining better control in these areas can lead you where you want to go in the business world. It may be easy to see these skills will help in current job, but how can you be sure they will apply to future opportunities?

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