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Are you worried about The Competition?

That someone else is going to come along and steal away all your business?

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

HERE’S THE GOOD NEWS: for entrepreneurs, competition doesn’t have to exist.

Not if you don’t want it to.

See, if y

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

Examples of combination products may in

our brand is uniquely positioned in a way that’s un-comparable, un-duplicatable and un-like anything else in the mar

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

ket - you won’t have any competition!

EXAMPLE: let’s say you’re a marketing consultant. But you’re the ONLY market

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

ing consultant who works solely with paint shops.

You’re “thee,” consultant for paint shops, not merely “a” consult

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

Combination pro

ant in general.

You’re FIRST and FOCUSED.

Now, if a paint shop was hoping to hire an outside advisor like yourself

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

, here’s what would happen:

1. The two owners of the paint shop would hop onto Google.

2. They’d find your website

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

and think, “OK, these guys look great. But before we hire them, shouldn’t we at least check out a few of the other

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

paint shop marketing consultants?”

3. But after a few minutes they’d realize, “Huh. Well, it looks like there ARE

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

no other paint shop consultants. Guess we better hire these guys!”

Cha-ching!

Bye-bye competition, hello new cus

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

omers!

So, if you want to eliminate the competition, remember these three keys:

1. Be “thee,” not “a.” Pick a lan

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

Following aspects would a

e. Go where others aren’t. Narrow the focus of your expertise and you will broaden your appeal.

2. Be the only on

dd to the challenges in developing combination products:

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

e. That’s the true definition of unique – the only one. You need to be able to finish the following sentence, “We’

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

re the only company who…” or “Our website is the only one that…”

3. Be bold. Eliminating the competition isn’t for

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

the timid. You MUST stick yourself (and your brand) out there. Don’t just be memorable; be unforgettable! Because

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

if you get noticed, you get remembered. And if you get remembered, you get business.

Ultimately, if you practice

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

Professional from academic institutions, pharmaceutical industries, health care indust

those three keys here’s what will happen:

When your customer is seeking to hire someone like yourself, you won’t “b

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

e at the top of their list…”

But you’ll be so unique, so narrowly focused, so valuable and SO original, that your c

.

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

ustomer won’t even have a list!

Just have a big fat sticky note that says, “Get that guy!”

LET ME ASK YA THIS...

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

Companies that provide selfless information through particip

r> Do you have any competition?

LET ME SUGGEST THIS...
Email me with your best competition-eliminating advice

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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