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As with all of my sales training tips and sales strategies it?s important that you know how to apply tactics in the real world. Here is a question that was asked o

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

f me several times and in slightly different versions last week…

Sales training question…

Gavin. I?ve got a client who is already using us. He is using one produ

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

Examples of combination products may in

t list value 3000 and another worth 2000. Total value 5000. He has only been paying 1500! He now wants to drop the 3000 product and continue with the 2000 product

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

but is expecting a discount from his current investment of 1500. What can I do?

Sales training answer…

Great question and one which is not at all uncommon. The f

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

rst problem here is that this client has obviously been seriously under sold in the past and this has set his expectations. Whilst there is not a lot you can do ab

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

Combination pro

out this situation now it?s important that you learn this and do not fall into this trap yourself when signing up new clients yourself…

For this case, here?s what

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

you need to do…

Work out your walk away price.

What is the least that you will be happy doing this deal for? You need to decide before you ever go anywhere near

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

your client. In the moment sales people often do deals that shouldn?t be signed. If you are certain about your walk away then at least you can?t make this mistake.

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

Work out what you think the client is going to want.

You should have a good idea about this. Based on past conversations and history - what deal do you think the

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

client will be going for?

Work out what the client will settle for.

What?s the most you think the client will pay. This is crucial because this is what you are

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

oing to be negotiating up to.

STOP. Now you have 4 possible deals. Your opening price 1500, your walk away, the client?s opening stance and the client?s walk away

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

Following aspects would a

Hopefully, there is some overlap.

Work out your concessions.

What variables can you add or remove from this deal that you can negotiate with? In all of the sale

dd to the challenges in developing combination products:

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

s cases and with all of the sales people I spoke with this week we managed to find several…

Work out how much the client needs you.

It may be that this client is

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

about to play hard ball but that really they need you and they know that they have been getting the deal of a lifetime in the past.

The client meeting - step by s

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

tep.

Set client expectations.

You have to tell this client that they have been getting a great deal and help them to understand that you may not be able to conti

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

ue with it but that you do want to walk away with a win win if at all possible. Try and get them to agree that they need you and link it to their business. Don?t d

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

Professional from academic institutions, pharmaceutical industries, health care indust

iscount the possibility that you might be able to upsell them on the full package again…

After resetting client expectations try and get them to commit first on p

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

ice. It doesn?t matter how low they go really - it?s a starting point and one from which you can only go up. This will allow you to start to judge the likelihood o

.

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

f a positive outcome. If the first offer is really low don?t be scared of shrugging it off and asking for another more realistic one…

Once you have a starting fig

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

Companies that provide selfless information through particip

re you can make your first offer. Make it as high as you can. Only now can you start to trade concessions and variables whilst using all of your negotiation skills

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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