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An elevator speech, also known as an elevator pitch, is a succinct and engaging articulation of what you do

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

designed to engage the listener. It is called an elevator speech because the time is limited to the length

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

Examples of combination products may in

of the average elevator ride – 30 to 60 seconds, the same length of time as the average commercial. It boil

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

down to first impressions and engaging a potential client.

Your elevator speech is the tool you use to ma

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

ke an initial connection between you and a potential client, therefore they need to be able to directly rel

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

Combination pro

te it to their own situation. It should include, what you do, who you do it for and the benefits they recei

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

e in a very succinct and concise manner.

Simply stating you are a Virtual Assistant is an option and may l

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

ikely bring positive results. However, you will get a better response from individuals who may be afraid or

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

intimidated by the fact that they don’t know what it is, and do not want to feel stupid or embarrassed, if

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

ou use an elevator speech. If you just say you are a VA, these individuals will likely either end the conve

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

sation or change it to a direction they are more comfortable with. Remember you want to connect with the po

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

Following aspects would a

tential client and their situation.

In order for your elevator speech to be effective it must not only be

dd to the challenges in developing combination products:

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

uccinct but also roll off your tongue and sound very natural, not rehearsed! In order to accomplish this yo

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

need to practice saying it out loud, not just reading it to yourself. A good way to fine-tune it is to say

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

it front of the mirror, practice with family and friends or leave it on your voice mail. Does it flow? Do

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

ou sound confident? Does it need to be changed? Practice it until you get it right.

Here are a couple of e

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

Professional from academic institutions, pharmaceutical industries, health care indust

amples:

I’m a Virtual Assistant and I develop collaborative relationships with entrepreneurs supporting th

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

em in the administration, growth and success of their businesses.

I’m a Virtual Assistant providing strate

.

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

ic administrative and collaborative support for business owners who want time to focus on the growth and su

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

Companies that provide selfless information through particip

cess of their businesses. Remember that it’s what you do, who you do it for and the benefits they receive

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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Applicable knowledge is gained from experience, not textbooks. If you're still in college, try to take courses that apply to your current/future business interests. Real entrepreneurs care about the importance of the information they are absorbing, not their grade in the class.

Motivation and simplicity: these are marketing tools you can use to win in the marketplace.

As you empty your mailbox, do you wonder why so many companies choose to send you a load of communication about their products and services? If you never respond to such letters, there's a good chance you believe no one else does either. But before you dismiss direct mail marketing as a waste of everyone's time, maybe you should look at its advantages and why it has caught the fancy of so many marketers.

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