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Networking, Ugh!

Much like the thought of marketing and sales, the thought of networkin

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

g may make you cringe. For most solo-pros, service professionals, and small business own

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

Examples of combination products may in

rs, they hear the word networking and it brings to mind the old business standard of 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.

otional networking at 'meet & greet' events where it's understood and accepted that ever

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

one is there to schmooze and subtly manipulate one another in an attempt to gain some ad

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

Combination pro

antage, for themselves or their business, which will increase their bottom line.

Who wo

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

ldn't cringe at the thought of spending an hour or two exchanging banalities and sales p

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

tches with a phony smile plastered on your face to hide your discomfort, in an attempt t

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

'use' someone else to get a leg-up on the competition or to boost your profits, only to

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

walk away with a pocketful of biz cards and the prospect of hours of work to continue th

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

charade through email and by phone? It feels uncomfortable, self-serving and deceptive.

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

Following aspects would a

Chances are all those biz cards you collected will end up in a drawer of your desk neve

dd to the challenges in developing combination products:

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

to be seen again because you'll so dread following up that you'll procrastinate doing s

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

until they're forgotten.

The good news is it doesn't have to be that way! The Book You

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

self Solid networking strategy operates from an entirely different paradigm; it's all ab

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

ut connecting and sharing with others, and all you have to do to begin to employ it is t

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

Professional from academic institutions, pharmaceutical industries, health care indust

shift your perspective from one of scarcity and fear, to one of abundance and love. Wit

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

the Book Yourself Solid Networking Strategy, the focus is on sincerely and freely givin

.

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

and sharing, and by doing so, to build and deepen mutually beneficial relationships wit

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

Companies that provide selfless information through particip

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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