Subjects - Business

Statistics show that it costs five times as much to acquire a new customer than to ge

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

t business from a past one. So why are we spending more time chasing the strangers?

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

Examples of combination products may in

People buy from people who they know, like, and trust. Your past customers already kno

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

you, like you, and trust you. So you don't have to spend time selling yourself. They

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

are already sold on you! You just have to remind them you are around.

Here are my favo

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

Combination pro

ite ways to "remind" past clients about me. I always see results:

Custo

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

Holiday Gift
What a great time of year to thank your clients and remind them

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

about what you offer. Can you send a small token gift that coordinates with the desi

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

n project you completed? How about a throw pillow made from their fabric scraps, or

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

a small accessory that matches their room? I just heard an amazing idea for this ti

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

e of year: a Christmas tree skirt sewn from matching fabric. How excited your client

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

Following aspects would a

will be to have a skirt match their couch or window treatments!

Call M

dd to the challenges in developing combination products:

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

!
I like to make it a point to call one past client each week. I call to say

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

hello, to ask if they've seen a new store, to get permission to use them on my refer

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

ral list... never to sell. But I often hear, "Oh, I'm so glad you called. I've been

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

hinking about starting my living room..." And I set up an appointment.

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

Professional from academic institutions, pharmaceutical industries, health care indust

>Email Newsletter
This is my favorite way to keep in constant contact with my c

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

lients. I get a lot of repeat business and warm referrals because of the loyalty th

.

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

t is built from consistent communication.

Loyal, happy, repeat customer

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

Companies that provide selfless information through particip

make your business not only successful, but a joy! I hope you enjoy this holiday season

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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