Digg It - Business

I am not the world’s most organized salesman. In fact, I may be the least well organized sal

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

es person you will ever know.

However, I do know one very important organizational fact rega

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

Examples of combination products may in

rding success in sales. If you don’t set aside time for Prospecting on a regular basis, that

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

is daily or weekly, you will pay a price.

I recently wrote about the hills and valleys of s

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

ales. These are the times when you are really flying high and then the times when you are do

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

Combination pro

wn in the valleys trying to climb up and see some day light.

The reason we get into those va

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

lleys is because we let “things” prevent us from doing what we need to do to stay on the hill

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

s. In my case, that is virtually always Prospecting.

I let myself get involved in other wor

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

k and don’t Prospect. And this stuff is legitimate – really. I am working with someone else

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

, working on a presentation, making speeches, or some other very important and worthwhile act

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

ivity.

That doesn’t prevent the problem of a valley in my future however.

So what do we do?

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

Following aspects would a

We make a sacred time each week that is just for Prospecting. Nothing short of death gets

dd to the challenges in developing combination products:

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

in the way.

Our BLITZ CALL® Prospecting System is designed specifically for regular periodic

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

Prospecting. Not a “big deal” Prospecting event, but just a regular activity to keep your p

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

ipeline of Prospects full. If you try to make Prospecting an “event” then it will get too co

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

mplicated and you won’t do it.

Once your Prospecting system is set up and running you will b

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

Professional from academic institutions, pharmaceutical industries, health care indust

e able to Prospect without needing to do anything to prepare. Just do it. Nothing will get

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

in the way.

That way you can spend your other time doing all the other things that must get

.

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

done, while not avoiding the essential – Prospecting.

We have heard it all our business live

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

Companies that provide selfless information through particip

s, but it is still true, time really is money.

Sell well and often!

Copyright 2006, WJ Trua

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.diggit.org.ua/article/39846/diggit-Prospecting--Time-Really-is-Money.html">Prospecting - Time Really is Money</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/39846/diggit-Prospecting--Time-Really-is-Money.html]Prospecting - Time Really is Money[/url]

As the warm months of summer approach and the schools break for summer vacation, young people hit the streets in search of a summer job.

Multiple job offers give you the opportunity to choose the best one for you. Here's how to leverage a single offer into two, three or even more.

The market for technology based gifts for the 'big boys' market continues to grow.

Tags

Links

Digg It - Prospecting - Time Really is Money

Related Articles: