Advice You - Business

What does it really mean when unemployment is discussed?

There is unemployment and there is being unemployed. Being unemployed is simply not having work when a person is willing to work. Unemployment is a littl

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

e broader in scope and what we will concentrate on. Unemployment is being without work or related to a job loss.

The Two Faces of Unemployment comprise the positive aspects and the negative aspects. Most of us

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

Examples of combination products may in

re very aware of the negative aspects such as loss of income, being unable to find employment, difficulties paying bills, depression because of self-confidence and other issues that are related. The positive aspe

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

ts of unemployment will be discussed later.

How does unemployment relate to our economic times? We read about unemployment all the time and at some time in your career, as the statistics would allow, you will be

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

unemployed. Unemployment is something that has come with our Industrial Economic period. Prior to the Industrial period, when we were an agrarian culture, we may have had idle workers but they weren't considered

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

Combination pro

unemployed as we consider people today.

The problems associated with unemployment can and are extensive. This can range from the personal effects that occur to the individual to the effects that reach out and a

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

fect others or the community. Examples of this are occasionally higher crime rates when unemployment is significant especially in a localized area. These effects can affect the community by creating a higher rel

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

ance on social programs such as unemployment insurance, food stamps and welfare. High unemployment rates also keeps pay rates down due to higher number of people competing for the same jobs. The lower paying job

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

may be available but they only offer a short term relief from the unemployment problem. These lowing paying jobs can be more of an obstacle for the unemployed than a resource. Often, they do not pay enough for

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

someone to maintain their lifestyle and they can be mentally detrimental as well. If this is the alternative, the individual that may have loss his or her job and picked this up for a short term may not be availa

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

le for the opportunity in their field of work.

After all of this, what can possibly be positive about unemployment? In The Two Faces of Unemployment, there is light at the end of the tunnel and it is not one of

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

Following aspects would a

hose freight trains such as not being able to pay bill or loss of self-esteem. This is the Positive aspect of unemployment that most people overlook. Every once in a while, you will come across an article in one

dd to the challenges in developing combination products:

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

of the business magazines that will address these aspects. Most of these articles start something like this: "I Got Fired and it was the Best Thing that Happened To Me!" How many businesses get started just that

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

way? Someone is in a dead-end job going nowhere and getting there fast. They always have had a desire to run their own business and they have had this idea in the back of their mind forever but didn't have the c

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

urage to leave the comfort of their job (the one that they hated). Now you're reading in the business magazine about this great little company that is coming along rather nicely and the company's owner started th

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

s business after his last employer fired him.

The other story, is one that you might have heard from a friend or a family member about someone that you might know personally that wanted to take some classes to qu

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

Professional from academic institutions, pharmaceutical industries, health care indust

lify for another job that they have been interested in doing (sometimes for years). They never seem to be able to able to find the time for the training they needed or just couldn't get up the motivation. Then i

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

t happened, they were downsized, laid-off or fired. Instead of getting depressed, they got motivated and they are now doing what they wanted to do years ago (and wondered why they didn't just do it before).

The

.

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

wo Faces of Unemployment can give you a different perspective on the issue of unemployment. Often, we do not see the opportunity to do the things we wish to do because we don't want to let go of what we know. We

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

Companies that provide selfless information through particip

may not like what we know but the fear of the unknown prevents us from accomplishing things we want to do. Sometimes the best we could hope for is this: "I Got Fired and it was the Best Thing that Happened To Me!

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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