Subjects - Business

Whilst browsing the internet I came across a number of articles on negotiating and having read several began to wonder who these people were negotiating with and why were they bothering to

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

negotiate at all. I was amazed at the language used in the articles and the suggestion that you would want to negotiate with someone you know is going to con you, stitch you up or rip you

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

Examples of combination products may in

ff. What does the person or organisation you distrust have that is worth the effort of negotiation, it can only be a crook or assassin you want to bump of the spouse or burn the business d

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

own for the insurance money.

Why would you want to negotiate with a business or person you know will not stick to any agreement reached and you will be forever employing lawyers to check t

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

e small print every time you order or sell to them and you know there will be a dispute over something or other and you may never or you will have to wait ages to get paid or recover your m

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

Combination pro

oney.

There are only two reasons why you need to negotiate: You are in dispute or you want to do a deal. If you are in dispute there are a number of steps you have to take before you can

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

egin negotiations, the first is reconciliation, the second is communication, the third is negotiation -- sounds very much like being married.

The majority of us negotiate because we want 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

o do a deal that is beneficial to all the parties involved. Negotiation is about compromise not setting up barriers that need defending, if you do not want to compromise then don’t bother

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

egotiating, tell the other party you have no interest in doing business with them.

If you are interested in doing deals and deals is what makes your business profitable then you have to ne

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

gotiate but, before you pick up the telephone to arrange a meeting make sure you are talking to the right party for this deal. Research is imperative, make sure you understand why your bus

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

ness needs this deal and what affect the deal will have on your business, is there another supplier/customer you could do a better deal with? Make sure you understand what you can negotiat

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

Following aspects would a

e away and what cannot be negotiated.

Once you understand why you want or need the deal go and find out everything you can about the target, ask around, check the newspapers, magazines, co

dd to the challenges in developing combination products:

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

tacts in other businesses you know that have dealings with the target, your bank manager, is the target under money or time pressure, do they pay their bills etc. You would be surprised w

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

hat little snippet of information may clinch a deal.

When negotiations begin never ever give away what you know about your target and never impart your business problems to the target. Du

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

ing the negotiations and if you have done your research you will hear the fear you can exploit that will clinch the deal and nine times out of ten it has nothing to do with price. It may b

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

e delivery times, stocking levels, storage, expertise, marketing, something that may be small and insignificant to you but extremely important to your target.

How do you find the fear? Yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

ask questions and let the target talk and talk, never interrupt, never answer for the target, never show how clever you are by pre-empting, make notes and listen, do not be afraid to rephr

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

ase a question to dig further, leave a little space between the target ending their answer and you starting the next question, you never know what they might add. Next time you watch a new

.

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

programme listen to the reporter, if they are any good their questions will find the answers and if they know there is a little more to come listen for the silence.

In summary make sure y

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

Companies that provide selfless information through particip

ou know why you want to negotiating, carry out in-depth research, prepare, ask questions and don’t be afraid to say No. Never confuse Negotiation for Selling they are two different skills

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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When you first start a business you need to be as prepared as if you were starting a new job! You need to know the ins and outs of your new business. Before you can start advertising your business you need to know everything there is to know about your company should you be in direct sales. Have you tried out the products? Believe it or not there are people who will join a direct sales company and have never tried their products how are you going to convince people to purchase the products if you yourself have never tried them. A personal testimony is always better!

Customer service isn't just a department, like accounting, it's what your business does to attract, retain and please your customers in totality. How you think about and treat your customers can make or break your business, or even worse give your competitors an advantage over you.

There is ONE central idea, one key concept that I want you to understand. If you get this right, your show (exhibition or event) will reward you with customers buying what you have to sell. If you DON'T get this right, you'll be paying a fortune for next to nothing, your competitors will eat you up, and your whole exhibiting experience will be very, very unpleasant.

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Subjects - Negotiating Do You Need To?

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