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E-Folder - Unemployment: Are You Next?
When recent college students were asked what “professional opportunities were available for them afte 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 r graduation”, 84% believed their chances were “very good or better”. However, as many of these stud ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in nts will soon discover, the reality of reaching their employment goal is “grim at best”. How white-c lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. llar employment ended up in this situation is no mystery. American employment, years ago, was boomin here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe g. “Made in the USA” and fair wages were a commonplace. Unfortunately, the American consumer wanted d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro (and continues to want) the best of everything. They not only enjoyed the fair wages, but they also 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 oved heading to the nearest Wal-mart for the hottest new deals. Simply put, American consumers took 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 their paychecks and gave a large chunk of it to foreign competition. The primary reason why places s nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ch as Wal-Mart can offer such great prices is because the products come from overseas. As a result, 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 he need for American-made products went down severely … as did American jobs. But why cut the white- ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ollar jobs? The reason is obvious; with less manufacturing there is less to manage. It has thrown t ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a he job market in a competitive, cut-throat race for employment. Is it getting better? Not at all, i dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod fact much worse. Social security will likely be bankrupt by the baby-boomers, more jobs will be los cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin as we continue to lose technological dominance, and our cost of living (and healthcare) will continu tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen e to increase. What can be done? Realistically… nothing. It is impossible to hinder the advance of 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 the rest of the world. However, those facing unemployment should sharpen their skills to remain comp ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust titive. Various types of professional certification and training can be obtained quickly online. Th y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ose in search of higher job security should consider careers in service-based industries. For instan . 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, your plumber’s wages will not likely feel the impact of competition in China. However, he has to elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip orry about illegal immigrants offering low wage competition (but that is a topic for another article) 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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