Subjects - Business

First of all, effective negotiation skills will NEVER make up for poor selling skills or attitudes. Wit

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

h that as a given, let’s look at some of the negotiation problems common to many salespeople today. Let

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

Examples of combination products may in

me give you four basic negotiation concession concepts/premises, and then a little more detail on them

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

.

1. Don’t advertise your willingness to make a concession before you are asked.

Many salespeople off

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

r to discount a price, give better terms, etc. before they are asked by the prospect or client to do so

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

Combination pro

. For example: does your price sheet say something like ‘suggested price’? You just advertised your w

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

llingness to make a concession before you were asked.

2. Use the set-aside technique when necessary.

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

Often prospects bring up an issue in a negotiation at an inopportune time. The set-aside defers this un

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

il a later time when it might be more favorable to discuss it. For example, the prospect asks the pric

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

e before you have had a chance to build perceived value. The set-aside says something like, “That’s a v

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

lid concern (question – whatever). Can we come back to that in a few minutes?”

3. When asked to make a

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

Following aspects would a

concession, ask for a bigger one in return.

You want to avoid playing ‘concession’ ping-pong. The pro

dd to the challenges in developing combination products:

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

spect asks for one you give in, in varying degrees and then he asks for another one and on and on and o

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

. When a prospect asks you to make one, say something like, “I can give you a better price, but I’ll n

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

eed a bigger deposit than is customary.”

4. 80% of the concessions made are made in the last 20% of th

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

negotiation time.

It’s called time pressure. The person under the most time pressure will tend to giv

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

Professional from academic institutions, pharmaceutical industries, health care indust

e away the most concessions. So, don’t let the prospect/client create the pressure, but you create it

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

hen you can both professionally and truthfully. For example: “If you give us an order today, I can com

.

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

mit the manufacturing schedule for you. But if you can’t, I can’t guarantee we can meet your delivery

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

Companies that provide selfless information through particip

xpectations. We are in our busiest time of the year and production schedules are very tight right now.

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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