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Subjects - Communicating CEOs
I see a PR firm has done a survey on the amount of time Canadian CEOs spend on communication, and found they spend almost half of their time on communica
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
tion.
I think we're supposed to be impressed that CEOs spend that much time on communication. But, quite frankly, what else does a CEO do? And, if you c
I think we're supposed to be impressed that CEOs spend that much time on communication. But, quite frankly, what else does a CEO do? And, if you c
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
nsider both direct and indirect communication, wouldn't that be more like 90%?
So, what do CEOs do, and how much of that involves communication of one k
So, what do CEOs do, and how much of that involves communication of one k
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nd or another?
Well, they make decisions. But before they make them, good CEOs get information from specialists in their organization. They also may che
Well, they make decisions. But before they make them, good CEOs get information from specialists in their organization. They also may che
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
k other options by reading newspapers and magazines, attending conferences, and talking to their peers. All of which involve communication.
For example,
For example,
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
let's say a CEO must decide whether or not to launch an important new product line. Before she makes that decision, our CEO will have had discussions wit
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
h, and reports from, senior members of the sales department. She will also consider the country's economic outlook in the coming months and years, talk t
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
others about what competitors might do, and review the financial implications with the VP of corporate finance.
It's all about gathering, distilling, a
It's all about gathering, distilling, a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
d transmitting information: what we call communication.
Turning to another CEO function, what about envisioning a new future for the organization and de
Turning to another CEO function, what about envisioning a new future for the organization and de
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
eloping a strategy based on it? Again, communication can't be taken out of the mix.
After all, you can't just pick a vision out of the air. It's the out
After all, you can't just pick a vision out of the air. It's the out
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ome of reflective thinking combined with information, knowledge, and insight. All of which come from communicating.
And, there's often a kaleidescope ef
And, there's often a kaleidescope ef
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
fect before a vision emerges. All sorts of information tumbles around in the mind, over and over, like clothes in a dryer, until eventually a new and pro
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ising pattern reveals itself.
For example, suppose the Vice President of Human Resources has just been promoted to Chief Executive Officer, and the boar
For example, suppose the Vice President of Human Resources has just been promoted to Chief Executive Officer, and the boar
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
made it clear it expects him to put his own, unique stamp on the company.
He might retire to his office and spend a lot of time inside trying to think
He might retire to his office and spend a lot of time inside trying to think
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
f a new direction. But, it's far more likely he'll reach out, rather than withdraw. He'll talk to staff on the front lines as well as managers. He'll rea
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
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
everything relevant he can find in books and magazines.
As that information pours into his mind -- as the communication process enriches his imaginatio
As that information pours into his mind -- as the communication process enriches his imaginatio
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
n and knowledge -- he'll start to envision possibilities. Some will be more promising than others, and he'll talk about them with others in the organizat
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
on. Eventually, some sort of consensus will likely emerge about the most promising vision.
Those are just a couple of examples from the work of CEOs, bu
Those are just a couple of examples from the work of CEOs, bu
.
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
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
you can see why I'm skeptical about the 50% figure: There's not much about a CEO's job that does not involve communication of some kind.
In summary, CE
In summary, CE
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
s may do more than communicate, but almost everything they do will be driven or influenced by communication processes inside and outside the organization
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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