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E-Articles - Data Delivers Credibility
Over the past couple of days I've been setting up visitor counters, so people in another organization can accurately count the number of people who vi
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
sit their event.
They got the idea (and the counters) from an association I belong to, and they, too, are learning how data delivers credibility.
I'
They got the idea (and the counters) from an association I belong to, and they, too, are learning how data delivers credibility.
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
Examples of combination products may in
m always impressed by how much respect I get when speaking or writing with specific, solid numbers. For example, when I talk about the number of visit
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ors who came through the gates of my association's event on a specific night, I don't talk about "a lot" or "a few" or "more than the night before."
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
Instead, I can say something like, "2,348 visitors came through last night, compared to 1,852 the evening before." That specificity makes a difference
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
when it comes to credibility, and if I propose a certain course of action based on those numbers, I'm likely to get the support I need from other mem
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
bers of the board.
Data, you see, represents very specific information, and often, the more specific you can be, the more credibility you have.
Simi
Data, you see, represents very specific information, and often, the more specific you can be, the more credibility you have.
Simi
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
larly, direct marketing gurus encourage their clients to use specific numbers in headlines, rather than generalizations. That's why effective direct m
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ail, and now online advertising, uses claims like "Learn how one sales rep earned $2,216.78 last week..." rather than "Learn how one sales rep earned
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
more than $2,000 last week..."
By being specific, the headline writer converts a boast ("more than $2,000") into a conceivably credible claim. What's
By being specific, the headline writer converts a boast ("more than $2,000") into a conceivably credible claim. What's
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
implied is that it must be true or the writer wouldn't use that specific figure.
You'll find other professionals get credibility in the same way. For
You'll find other professionals get credibility in the same way. For
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
example, lawyers get it by citing precedents. Rather than talk to a judge in generalities, good lawyers cite previous case law and decisions by other
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
judges.
You also know the clergy gain credibility by citing passages of scripture, along with the chapter and verse numbers. And, how about the medi
You also know the clergy gain credibility by citing passages of scripture, along with the chapter and verse numbers. And, how about the medi
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
cal profession? For example, physicians and others don't speak of "heart attacks;" instead they speak of different kinds of heart disease and conditio
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ns. By being specific they gain credibility, credibility that sets them apart from lay people.
The concept works for just about anyone, in any profes
The concept works for just about anyone, in any profes
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
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
sion or occupation. Suppose, for example, you're a sales manager attending a budget meeting, and the general manager wants you to increase your sales
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
by 15% next year, far more than you're likely to achieve. To argue persuasively that the target should be lowered, you might explain that the economy
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
of your city is only expected to grow 2% next year, that your main competitor recently cut prices by an average of 4.5%, and that your company's produ
.
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
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
ction will be just 5% greater next year. Now, you've got ammunition when you argue for a lower sales target.
In summary: Data, in the form of specifi
In summary: Data, in the form of specifi
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
c numbers or references, adds credibility to messages. It's a technique used by many professionals, including the clergy, physicians, and sales people
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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