Cases - Business

“Remember – if people talk behind your back, it only means you are two steps ahead.” – Fannie Flagg

This

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

Sales Diva absolutely loves the above quote from Fannie Flagg! It happens every day doesn’t it?

In fact – it

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

Examples of combination products may in

ay even have happened to you at one point or another. You are working hard on your business, attracting custome

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

s, making sales…and then IT HAPPENS.

You see something in the paper that your competitor is doing….you hear an

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

d on the radio about them…or you lose a customer or prospect to the EVIL COMPETITOR and your stomach turns into

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

Combination pro

nots.

You panic. You begin hyperventilating....all because of what some other business is doing. You frantical

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

ly start thinking of how you can drop your prices, have a promotion, give away free cheese – anything to keep yo

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

r competitor away!

Stay Away From Monkey Mind!

There is a phrase in Buddhism that refers to what happen

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

when you allow distraction to take you over…

“A related metaphor is the allegory of a monkey stretching as far

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

as he can to grab the reflection of the moon in water. He cannot understand that he is looking in the wrong plac

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

.“

I see many businesses jump into “monkey mind thinking” when they start worrying about their competitors.

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

Following aspects would a

>Here’s some Sales Diva advice:

- Remember – unless your company is built upon having the cheapest prices

dd to the challenges in developing combination products:

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

don’t worry about competitors charging less. There will always be SOMEONE playing that angle – do you really wa

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

t to play in that arena?

- Be aware of what is happening with a competitor but don’t be a copy-cat.

- Be pro

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

active. Focus more on what your customer needs from you – if they don’t see the value in you – the first place t

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

ey will go is PRICE.

- Complacency is YOUR BIGGEST COMPETITOR. Your customer can always choose to do….nothing

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

Professional from academic institutions, pharmaceutical industries, health care indust

and stay with the status quo. Have you ever done that?

- Chart your own course. Stay focused on your own goal

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

, revenue objectives, marketing strategies. Survey your customers, treat them like gold – and they will remain l

.

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

yal to you.

So the next time you feel a bad case of Monkey Mind coming on – take a deep breath and remember The

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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