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Let's face it. Participating in a trade show is expensive. There's no doubt about it. When you add up all the expenses associated with trade shows -- including registration fees, display costs, shipping, giveaway items, booth staff salaries an

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

d lodging, and more -- you're talking about some serious money.

But wait! There's more. From the minute you express interest in exhibiting at a show, you're flooded with sponsorship opportunities. For a mere $250, for example, you get an ad i

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

Examples of combination products may in

n the show directory. Double that, and your logo shows up on a few prominently placed banners. Prices rise steadily, allegedly keeping pace with the enhanced exposure more dollars can bring. As logic goes, you get more visibility, the deeper y

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

ou dig into your wallet.

Is it really worth it? Does more money really equal increased attendee attention and consequently better sales? How can you tell which sponsorship opportunities are really good deals and which are a waste of money?

A

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

ll sponsorship opportunities are valuable -- to the right exhibitor. There must be a good match between the exhibitor, their goals and objectives, and the results the sponsorship can deliver. Before you agree to a sponsorship deal, you must ma

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

Combination pro

ke sure that your participation will move you closer to achieving your goals and objectives. Otherwise, keep your money in your pocket.

There are four criteria you can use to assess if a sponsorship opportunity is right for you and likely to

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

deliver your desired result. These criteria are:

1. Target Audience Draw

Does this show draw a large group of attendees who are in your target audience? Will this group be likely to buy your products and services? Is there a clear ben

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

efit in putting your name in front of these attendees? If you're at a show outside of your industry or region, or a show that draws smaller numbers of attendees from your target audience, sponsorship is probably not the route to go.

2. P

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

ercentage of Exhibiting Cost

Consider the cost of sponsorship as a percentage of your total exhibiting expense. If the sponsorship is equivalent to more than 50% of your overall exhibiting budget, step back and think: Is this the best way

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

to invest my money? Would my purposes be better served by a larger exhibit or even exhibiting at an additional show?

3. Number of Same Level Sponsorships

Make sure you know how many other companies will be sponsoring on the same leve

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

l you will. As a rule of thumb, the more money you spend, the less same level competition you will have. It is important to know what level your competitors are sponsoring at, as your own sponsorship, if appropriate, should be comparable or be

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

Following aspects would a

tter.

4. Organizer Support

Anyone can sell sponsorship opportunities -- but not everyone can make them valuable. Consider the show management. How we do they promote the show? How well do they work with the media? What with do to ensu

dd to the challenges in developing combination products:

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

re that sponsors are mentioned often, prominently placed, and kept in the public eye? Organizers play a pivotal role in show success. If you find an organizer who understands your goals and objectives, sponsorship can more than pay for itself.

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

On the other hand, if a show organizer is not behind their sponsors, save your money.

If after assessing a sponsorship opportunity, you find that these criteria are met to your satisfaction, move forward. Here are three ways to maximize the

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

return on trade show sponsorship:

1. Offer Added Value

Use your sponsorship opportunities to give something extra to the attendee. This can be something tangible -- tote bags,books, pdas -- or perhaps more valuable, a knowledge based

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

intangible. Consider sponsoring speakers, mini or full workshops/seminars, panel discussions, and the like to get the attendees’ attention, capture it for a period of time, and keep your name highly visible.

2. Promote Heavily

Once yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

u have committed to a sponsorsip, it is in your best interest to promote it every chance you get. You want as many attendees at the show as possible, especially if they are members of your target audience, to know about your sponsorship and ho

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

w it can help them. Consider special advertising, and explore co-op advertising possibilities with the show organizers.

3. Partner Appropriately

By cooperating with companies who are in the same industry although not your direct compe

.

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

titors, it is possible to sponsor an event at a greater level than you could manage alone. Explore this option if you want to achieve a high level of visibilty at a given show yet don't have the budget to do it all on your own.

Remember, spon

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

Companies that provide selfless information through particip

sorship is just one more tool in your trade show toolbox. Used properly, it can help you achieve your goals and objectives. Keep a close eye on your plans and another on your budget, and I'm sure you can make sponsorship work to your advantage

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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Don’t let the shell owner dictate to you and insert a stipulation in the contract forbidding you to do a reverse split, after all he needs you more than you need him, you can go public without him but he can’t get his money without you.

The owner of the company you work for probably had reservations and fears about starting their business but instead of being paralyzed by fear they stepped out on faith facing their fears while making their dreams come true.

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