Advice You - Business

Want to be an astronaut or a baker or a carpenter? Perhaps you'd prefer to be a chef or a pilot or a successful entrepreneur? Choosing your options is never going

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

to be that easy; what you need is to collate the things you are good at with the things you enjoy doing and then see where that leads you.

When you pull togethe

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

Examples of combination products may in

r your achievements (ok I know thats the hard part so just think about things that you are proud of) some of them probably took more out of you than othe

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

s. So although these are often suggested as the best way to start your decision-making, just think a little deeper. You might have enjoyed doing them once but co

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

uld you, or would you want to keep on doing them.

My wife often says the meals I cook up at home for both of us and sometimes our adult children would go down re

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

Combination pro

ally well in a restaurant and I could charge top whack. Although I really enjoy cooking like this (I do a really good chili-con-carne) I would not even think abou

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

doing it every night for dozens of people.

Let me illustrate this further by taking a square box.

Divide this box into four by drawing a horizontal line across

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

the middle and a vertical line up through the middle. The horizontal line we're going to call "Enjoy Doing" with a scale running from left to right. The

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

vertical line we're going to call "Good At" with the scale running from bottom to top; what we've got now is a 2 x 2 quadrant so admired by MBAs.

First th

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

ng we see then is that the small square at the top right is where the high scales of "Good At" and "Enjoy Doing" end up and this is where we all want to be. We'll

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

come back to that.

At the top left we've got high "Good At" with low "Enjoy Doing" so this is often where we've developed a high level of skill to deal with a t

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

Following aspects would a

ask that's unavoidable but we don't want to do any more than is strictly necessary. I mean who enjoys driving these days?

Some people who don't manage their care

dd to the challenges in developing combination products:

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

rs too well often end up here because their organizations push them to where they're seen to be good. Think about the Finance Assistant who ends up as Credit Cont

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

roller because they had some success getting some bills paid.

Lower left is where too many people find themselves jobwise - doing something they don't enjoy and

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

are not particularly good at. This is where necessity and stress sometimes come head-to-head causing regular sick-leave and you'd be advised to try and change thi

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

if its you.

Lower right in my quadrant is where enjoyment is high but skill not necessarily so. The person who enjoys amateur dramatics may be an example or a s

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

Professional from academic institutions, pharmaceutical industries, health care indust

pare-time painter or the average DIYer.

Back to the top right: success usually springs from enjoying and being good at something, but only if you want to repeat

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

it. To choose your options bear this in mind and don't start with a job title. Instead start with the ingredients of a successful role based on your honest apprai

.

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

al of what you enjoy and want to do plus an objective view of what you are good at and can replicate.

Take my 2 x 2 quadrant and see where you fit in. If you are

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

Companies that provide selfless information through particip

firmly in the top right CONGRATULATIONS, make sure you stay there. If you're anywhere else visit the Career Options pages of my website for further advice

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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Strategy making process for business existing in a particular industry involves the study of many factors in the industry.

It has become a growing trend for high-end famous designers to partner with mass-market retailers. We've seen it with Karl Lagerfeld and H & M, last season's partnership with Viktor & Rolf and H&M, and most recently Proenza Schouler and Target. These partnerships have been very lucrative for both sides. One could even argue that the mass-market retailers might be getting more out of the deal.

Is your company brand literally saturating your target markets? Is your company literally everywhere and on the lips of your customers, competition and vendors? Does your competitor sales teams compare themselves to you in sales calls?

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Advice You - Choose Your Job Options With Care

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