Advice You - Business

When considering a job offer, how can you be sure that you’re joining a good company and not a bad company?

The worst career decision I made early in my career

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

was leaving one job that wasn’t really going anywhere (it was a good company but the job was boring) to a bad company where the job ended up being worse than t

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

Examples of combination products may in

he one I’d left.

I should have trusted my gut and listened to what it was telling me.

I ended up leaving this company after 8 weeks and shortly thereafter, I

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

became a recruiter. So in that regard, things ended up ok but I could have saved myself some grief if I’d paid more attention to what I saw during the interview

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

process.

Here is some advice regarding how you can ensure you are joining a good company and not a bad company:

1. Trust your gut. What is your gut fee

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

Combination pro

ling about the company? Don’t ignore glaring signs that something might be wrong that the company isn’t telling you about. Don’t look for bad signs that don’t r

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

eally exist, simply keep both eyes open and don’t let your desire to change jobs overrule common sense. In the example I gave above, my first bad feeling was wh

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

en I went to the first interview and found out that the company was located in a converted house which was not what I was expecting. They were supposed to be mo

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

ving to a real office shortly but I overruled my gut reaction when I should have just walked away from the opportunity.

2. Listen to everyone you interview wit

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

h especially anyone who isn’t the hiring manager. The hiring manager isn’t likely to spill the beans on anything negative about the company but other peo

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

ple you interview with just might. Sometimes during the interview process, you get to speak with people you’d be working with if you are hired and quite often t

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

Following aspects would a

hey’ll shed light on things that you might not otherwise have known since they’re not the one doing the hiring and have no reason to hide anything.

3. If possi

dd to the challenges in developing combination products:

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

ble, try to find someone who used to work for the company and ask them for their honest opinion about the company. If you know someone who already works there,

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

confidentially ask them about their experience with the company and the pros and cons of working there.

4. When you go for interviews, look around for anything

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

out of the ordinary. Do people look like they’re happy? Does everyone appear to be rushing around stressed or do they look relaxed? How professional looking is

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 environment?

5. Pay attention to how the company answers your questions during the interview process. Do they answer all your questions or do they seem to

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

Professional from academic institutions, pharmaceutical industries, health care indust

avoid some of them? Does it look like they are trying to hide something? Remember to find out why the job you are interviewing for is actually open, too ie. Wa

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

s the last person fired and if so, why? Is it a newly created job?

6. Remember to do as much research about the company as possible on your own well before you

.

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

r first interview. Look carefully over the company website, type in the company’s name into various search engines and see what results come up, look for press

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

Companies that provide selfless information through particip

releases related to the company, check out their financial stability through the use of financial records, etc. The more you know beforehand, the better.

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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For more ideas and business opportunities, you can regularly check out with the Franchise Council of Australia, Australian Trade Commission, and Indigenous Business Australia.

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Like it or not, the reality of running a business in today's world is that you will always have some people leaving to take up other job opportunities - no matter how great your staff retention strategies. But the way you handle a resignation can have a direct impact on how much staff turnover you experience thereafter.

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Advice You - Good Company or Bad Company: How Can You Tell?

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