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An entrepreneur has many things to worry during the start-up process. One of the most common requests I receive from people who are starting a new business is to teach them how 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

sell. For many new entrepreneurs, this is the scarcest part of the process. While this may be intimidating at first, it doesn’t have to be overwhelming.

Entrepreneurs sell t

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

Examples of combination products may in

hemselves at every stage of the start-up process. Entrepreneurs already know how to sell. They sell their ideas to their family first. Betting their future on a new business

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

takes some convincing. After the family comes the people who will finance the venture. The business owner must make a compelling case in a charming way. Next they sell to vendo

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

rs. A new business has to convince suppliers to extend credit to an unknown entity. Finally, even a small business will need to find some help. Hiring employees into a start-up r

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

Combination pro

equires sales skills. By the time the customer comes into the picture the entrepreneur has already sold to quite a few people. Ultimately, just about every entrepreneur has some s

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

ales experience.

Begin with the obvious targets. One of the most difficult aspects of selling is identifying the right customers to target. If you don’t pick the right tar

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

ets you will end up wasting valuable time trying to sell to people who are either not willing or not able to buy from you. The obvious targets for your new business are people who

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

are already purchasing similar products and services from your competition. If they are working with the competition, they have a need for what you can provide. If your price i

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

s competitive, you have an opportunity to take the business away from the competition. To do this you need to show your prospective customers how you are different.

Show them

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

the benefits of working with you. As you point out the differences between your business and your competition you should show how you will solve a problem for your customers.

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

Following aspects would a

The key is to make the conversation about your customer. It is all about them. If you focus on how your customer will benefit from working with you, you will have a far better ch

dd to the challenges in developing combination products:

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

ance of making the sale. Put yourself in your customer’s shoes and answer the question “what’s in it for me?”.

One of the most powerful ways to demonstrate the benefits of your pr

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

oducts and services is to attach financial benefits to the work you are proposing. Show your prospect how much money he will save by working with you. Use past experience with ot

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

er customers as an example.

Ask for the business. This seems basic but many people don’t do it. It is not pushy. It is smart. One of the best ways to ask for business is

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

to say something like “Just give it a try”. You’ll be shocked by how many people will respond favorably to a non-threatening statement like this. I have closed deals for large con

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

Professional from academic institutions, pharmaceutical industries, health care indust

sulting engagements by asking my customers to “Give me an opportunity to show you how much money I can save you.”

Follow through. Immediately after someone agrees to work w

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

ith you, you have an opportunity to expand the relationship. People have an innate need to have their behavior match the statements they make to others. If your customer makes a

.

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

public statement about their relationship with you, immediately offer them the opportunity to expand the relationship – even slightly. They will often accept.

Selling is a natur

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

Companies that provide selfless information through particip

al activity for many entrepreneurs. Getting started is often the most difficult part of the process. Be yourself. Let your passion come through and your customers will thank you

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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