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According to the U.S. Business Administration in 2003 of the 5.7 million American businesses, 99% are considered to be small businesses with less

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

than 500 employees. Small business owners continue to grow at a phenomenal rate. Many business strategies are employed to grow sales including: Se

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

Examples of combination products may in

rch Engine Marketing, Internet Marketing such as online newsletters and traditional marketing such as radio, television and print. Another popular

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

marketing strategy is business to business (B2B) networking through numerous vehicles such as Chambers of Commerce, formal networking organizatio

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

s and professional associates.

However, in 2006 a new trend will emerge. Business networking will undergo a complete transformation throug

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

Combination pro

h the concept of teleconferencing networking. This type of online networking is very new. The only company that I know who is currently of

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

ering this opportunity is Fast Pitch Networking. This is the innovative company th

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

at developed those 2 hour networking sessions where you have just 5 minutes to “pitch” what you do to 25 other prospects.

Just think about the ad

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

antages that this type of networking provides the small business owner:

Geographic flexibility -- If you have numerous locations

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

or wish to expand to a new market, you can telephone into a conference and share what you do with others no matter where you are at that moment.<

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

li>

Reduced costs -- No costs for driving, parking to that weekly or monthly meeting. Also, there is no annual commitment as each mee

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

Following aspects would a

ting has a flat cost. Yes, there is a telephone charge, but many small business owners have flat long distance fees.

More time

dd to the challenges in developing combination products:

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

- Since you can network from your office or home, you now have more time for additional appointments. You don’t have to allow additional time for

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

traffic, road conditions, etc.

Convenience -- If you live in the northern states, you can avoid winter’s bad weather since you ar

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

calling from your office. Again, you attend when you can and pay for only those meetings that you attend.

Additional Opportunities
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
b> – You will have fresh individuals to connect with instead of the same faces that you see weekly or monthly who still haven’t become customers.<
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
li>

Focus -- In traditional networking environments, there are always distractions from people interruptions to food being served. Wit

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

h online networking or teleconferencing networking, the focus is on you. Now is YOUR time to shine.

If you are a small business owne

.

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

who is an excellent communicator, has developed a strong “Elevator” speech and can quickly establish a rapport using online technology, th

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

Companies that provide selfless information through particip

en on-line networking can only catapult your business to that next level. Watch for this up and coming small business trend in 2006

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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Digg It - The Up and Coming Small Business Trend for 2006: Teleconferencing Networking

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