Subjects - Business

All of us have heard of marketing professionals. Some of us have even worked as marketing professionals ourselves. And s

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

ome of us have probably heard of marketing agencies. But how many of us can, in all honesty say that we have heard of th

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

Examples of combination products may in

e term marketing consulting? I for one hadn’t. Of course I had heard of consultants and IT consultants to be more precis

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

, but I had never before heard about marketing consulting as a field and what’s more, hadn’t the faintest idea who would

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

be involved in such an activity.

All that changed when I got onto a domestic flight and found someone sitting next to

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

Combination pro

e. When we made our introductions, I was pleasantly surprised to know that he worked for one of the largest organization

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

s in the region. I myself had some dealing with them and wanted to know how he figured in the scheme of things. Which is

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

when he told me that he worked in marketing consulting. More intrigued than anything else, I carried on a conversation

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

ith him.

Seeing that I hadn’t the faintest idea about marketing consulting as a field, he proceeded to brief me about t

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

he industry. (Yes! It had become fashionable enough in the recent past to call the thing an industry by itself. I wonder

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

how many people out there actually work in the industry of

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

Following aspects would a

>marketing consulting.

According to my friend, they numbered in the hundreds of thousands!) But what exactly did so

dd to the challenges in developing combination products:

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

meone in the marketing consulting industry do? Well, they did marketing like anyone else. What made their professions co

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

sulting as opposed to most of us is that they brought an element of analytics to the field.

In traditional marketing, f

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

or long people believed that if the product was good, it sold itself. This changed when it was observed that a few sales

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

en with the right ideas were able to sell a whole lot more than all the others put together. Thus was born the field of

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

Professional from academic institutions, pharmaceutical industries, health care indust

marketing. Soon, manufacturers discovered that marketing activities took up a whole lot of their time, leaving them with

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

precious little to do research and development. Thus, they began to seek outsiders who could do their marketing for the

.

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

. These outsiders were pure play marketing consultants. And the one reason they were hired and paid highly is because th

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

Companies that provide selfless information through particip

ey came armed with several years of knowledge and acumen that they could use to enhance the profits of their pay masters

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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Do looks count during the job interview process? Certainly your appearance counts but how much?

Being results oriented in your endeavors will help you maintain the optimum level of success.

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