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I know of a large company that is growing rapidly and their biggest success is traced back to contacting ten people everyday. The ten they contact are u

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

sually past customers and referrals from those customers. They almost never do cold calls, the information they send out is always welcome. You may reco

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

Examples of combination products may in

nize Olympia Funding as one of the top ten fastest growing companies in the California Bay Area. A lot can be learned from their methodologies. Olympia

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

unding started with one person, a large credit card debt and a great idea. They gained their first deal within two weeks of starting and have never look

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

d back. Here are some things that you can do to plan for your list of ten.

Write down all the customers you currently have and if the list is v

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

Combination pro

ery small, you can list all the business people who actually know you (not the ones you know)

Prioritize the list so that the customers t

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

at do the most business with you are at the top (if you do not have customers, put your best prospect that knows you at the top)

Look at

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

our list once again, and determine which customers are likely to continue buying and which ones you have lost

Break the list up into three

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

separate lists, one for current customers, one for customers that buy some things from you but do not give you all their business, and the last one for

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

customers that have gotten away or are "potentials" that you have a relationship with.

Plan how you will make contact with your list. This

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

may be in the form of a phone call, and email, a postcard or a meeting.

Select a combination of touch points that you feel comfortable wi

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

Following aspects would a

h. I suggest a phone call or even send a card (see www.SendOutCards.com/11666

dd to the challenges in developing combination products:

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

li>Plan what you want to say to the people on your list. Give them news, find out how they are doing, talk about how you can do more for them, and sugge

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

st a new restaurant they might be interested in.

You should know their interests ahead of time through the power page.

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

ctice your information so that it will sound casual when you are talking to them, if it sounds like you are reading a script, you will likely get a quic

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

hang-up and a lost customer.

Plan to ask for referrals from them and make sure this is part of what you want to say. Asking for referrals

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

Professional from academic institutions, pharmaceutical industries, health care indust

is easy and if you are doing a great job with customer service, getting them will be easy as well.

Take any combination of ten from the list

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

each day and call them or make a touch point in some form When your list is exhausted, and it is not likely to be because of referrals, start back at t

.

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

e beginning and keep going.

Planning your call list is the first step to increasing business. The key is to not do any cold calling; you should only ca

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

Companies that provide selfless information through particip

l those you already know and particularly those who know you. In the next topic we will talk about how to prioritize the list and determine the best ten

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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