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Social events, seminars, workshops, breakfasts, lunches, meetings over coffee, after-hours events – the list goes on. With the number

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

of opportunities to network in any given week, you could spend two thirds of your available working time just meeting with people!

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

Examples of combination products may in

owever, networking is usually only a piece of your overall marketing plan, so how do you make certain your networking hours are well

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

spent?

Get realistic about how much time an event will take.

Where is the meeting or event and at what time of day??

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

Will your trip there or back be during rush hour??

Do you need to get there early or stay late to be around when the ne

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

Combination pro

working really happens?

Here’s a hypothetical but very realistic situation. You’ve decided to attend a networking luncheo

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

n that also features a guest speaker. It will take you 20 minutes to get from your office to the event where you’ll spend just over t

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

o hours including the time you’ve built in for pre- and post-event networking. Then another 20 minutes back to your office. In total,

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

this event took about three hours out of your day and only a small portion of that time was free for networking.

Do you have that ki

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

nd of time to waste? Probably not. Productive networking is planned networking. Whether you will have 10 minutes or two hours to ming

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

e, make the time count.

Before you go, do your homework, know what you want to achieve, and have a plan.

The motto of succ

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

Following aspects would a

ssful networkers is “givers get”. Be prepared to listen and see what you can do for people you connect with. Hogging the conversation

dd to the challenges in developing combination products:

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

is worse than not networking at all because then rather than having no impression about you they have a bad impression

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

about you.

If you are having a one-on-one meeting to network, allot a certain amount of time and stick to it. At the beginn

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

ng of the meeting let the other person know how much time you have set aside. Have a clear idea of what you want to take away from th

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

at meeting.

For a large gathering plan your elevator speech well ahead of time. Nothing is more tedious than someone who ne

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

Professional from academic institutions, pharmaceutical industries, health care indust

ds 10 minutes to explain what they do. Get it down to a minute or less and focus on what results you help your clients achieve. If th

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

listener is interested, they’ll ask for more information.

Is it more important for you to hand out all of your business ca

.

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

rds or make a solid connection with one or two people? Usually quality, not quantity, is preferable.

Networking is an imp

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

Companies that provide selfless information through particip

rtant marketing tool for any size business and being a productive networker can make a significant impact in your bottom line results

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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Failure is something that none of us ever plans for but it is a part of the human condition. As we go through our lives there are few if any who have never experienced this phenomenon. So as we experience failure, how do we accept it and move on if we are unable to admit it?

Marketing Master, Catherine Franz, gives you eight great gift ideas to use to attract customers.

If you want to see new opportunities for your business and increase your decision-making speed and accuracy, begin by looking outside your own business- even outside your industry- at trends and patterns that you can apply to your own organization.

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