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E-Folder - It's Better to Be the Boss
Within the last week alone, I have read three disturbing articles at cnn.com. In different ways, each one tells me that it does not pay 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
work for someone else. Let's take a closer look at the facts.
Fact # 1 - You're Not Being Paid for Your Contribution
In her article, "Wor
Fact # 1 - You're Not Being Paid for Your Contribution
In her article, "Wor
; 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
kers Lose Traction over Last 10 Years," Jeanne Sahadi writes that "Between 1995 and 2005, productivity - a measure of the quantity and qual
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ity of what workers produce per hour - grew 33.4 percent. But hourly wages rose only 11 percent, with almost all of that increase coming du
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ing the late 1990s according to EPI [the Economic Policy Institute - ed.]."
The author points out that wages have been flat for college gr
The author points out that wages have been flat for college gr
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ads and that benefits, pension and health coverage have all been slashed over the last few years. She also quotes economist Jared Bernstein
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
, a co- author of the EPI report, who stated, "The economic expansion continues to bypass most working families." That's you and me, by the
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
way.
It all means that workers are doing more, but not getting pay that is commensurate with their production. Have you ever thought that
It all means that workers are doing more, but not getting pay that is commensurate with their production. Have you ever thought that
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
you're not getting paid what you're worth? Now there's proof! And guess what? The trend will continue.
Fact # 2 - Compensation Is Going Ba
Fact # 2 - Compensation Is Going Ba
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
ckwards
In the CNN article, "Job Growth: Just Right," Chris Isadore notes that " . . . worker pay is still not keeping up with inflation.
In the CNN article, "Job Growth: Just Right," Chris Isadore notes that " . . . worker pay is still not keeping up with inflation.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
The 3.9 percent year-over-year rise means wages trailed the 4.1 percent rise in prices over the 12 months ending in July."
So not only are
So not only are
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
you working harder and not being paid for what you produce, you're actually falling behind even the most basic barometer of inflation. I d
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
n't know about you, but if I were slipping farther behind every year, that would start to get depressing.
Fact # 3 - The Big Layoff Season
Fact # 3 - The Big Layoff Season
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
Is Coming
In "Layoffs Loom: How Safe Are You?" author Jeanne Sahadi notes that "Typically, the heaviest months for layoff announcements h
In "Layoffs Loom: How Safe Are You?" author Jeanne Sahadi notes that "Typically, the heaviest months for layoff announcements h
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
ave been October, December and January, according to John Challenger, CEO of outplacement firm Challenger, Gray & Christmas."
She also poi
She also poi
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
nts out that "Over the past 10 years, 9.7 million jobs were cut, 38 percent of which were announced in the last four months of the year."
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
o job security is slipping too. Not a pretty picture.
But When the Going Gets Tough . . .
It all sounds grim to me. But as the old saying
But When the Going Gets Tough . . .
It all sounds grim to me. But as the old saying
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
goes, "When the going gets tough . . . the tough get going."
And one of the best ways to move ahead today is to stop working for a compan
And one of the best ways to move ahead today is to stop working for a compan
.
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
y that undervalues you and buy a business of your own. I'd encourage you to consider buying a business of your own. Our newest home study c
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
ourse, The Art of Buying a Business, can help you leave your unrewarding job behind and chart your way to financial independence and wealth
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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