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Recently, I read a generally helpful article about using seminars as a means of attracting new clients, and I wholeheartedly agr

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

ee with that premise.

I’ve been doing just that for years, and it has helped my consulting practice, tremendously.

But there w

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

Examples of combination products may in

s a trap in that article for the unwary. The author said:

“If the purpose of your seminar is primarily to get clients, you shou

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

ldn't be expecting to make money on the seminar itself.”

If you can make money on the seminar, I say you should, for several re

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

sons:

(1) People perceive value in what they pay for, and if your information has even a nominal price tag, it will trigger thi

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

Combination pro

positive perception;

(2) If you can break even or profit from the session, this relieves the pressure on you, the presenter. Y

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

ou’ll feel less driven to do a hard sell throughout the program, which can be irritating and can backfire.

(3) YOU may not want

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

to do business with the people who attend a particular session. This happened to me in Washington where one of my programs was h

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

avily attended by a computer services company. After interacting in the session, I felt that organization wouldn’t be a good fit

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

, and I was grateful that I had garnered $595 per person from everyone that attended..

(4) When you don’t charge anything peopl

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

erect barriers to your persuasion, knowing that the only way you’re going to come out, financially, is by closing somebody.

(5

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

Following aspects would a

Staging seminars is expensive when you consider the cost of meeting rooms, catering, administration, and above all, marketing.

dd to the challenges in developing combination products:

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

Those flyers cost exactly as much to print and to mail if you charge nothing or big bucks for the sessions.

Finally, let me say

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

that if people are willing to go to the trouble to get funds authorized for attending a seminar, they perceive there’s sufficie

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

t value in it.

On the other hand, if many of your attendees are thinking, “It's free: What do I have to lose?” they may not hav

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 the same level of interest or motivation; certainly not enough to become your champion and to purchase your products and servi

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

Professional from academic institutions, pharmaceutical industries, health care indust

es at or after the program.

There are some exceptions, of course.

If you’re having a short “breakfast” meeting, and you want C

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

Os and Presidents to be there, picking up the tab is expected and appropriate. Also, your session will, by nature, be introducto

.

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

ry and just a “teaser.”

Also, if your audience consists of consumers, and you’re selling insurance or timeshares, buying them d

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

Companies that provide selfless information through particip

nner may me a must.

However, most businesspeople expect to pay value to get value.

Keep this in mind, and have a great session

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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Here’s a brief overview and description of what property scouting really is... For their own ulterior motives, there are always certain people who would have you believe that a work at home idea is not what it’s purported to be. These nay-sayers are no different when they point fingers at...

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