Advice You - Business

Congratulations! The hard work you have put into your job search has paid off. You now have a job offer on the table and are excited about the opportuni

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

ties that this position presents. There is just one thing that is troubling you: the offered salary.

It is not unusual for the final part of the job sea

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

Examples of combination products may in

ch process to involve salary negotiation, but this conversation can cause even the most seasoned professionals to break into a sweat. A basic understandi

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

ng of the negotiation process and methods to make salary negotiations go smoothly, though, will serve to both alleviate your anxiety and improve your nego

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

iating effectiveness.

The key is to evaluate your qualifications and determine what your skills are worth in the current employment market. Ideally, you

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

Combination pro

should begin research salary ranges before you even begin the job search process. To determine your approximate market worth, you can contact any one of

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

the following sources:

--Professional associations or journals in your field

--Your state labor office

--U.S. Bureau of Labor Statistics

--Career Cent

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

ers

You may also conduct a search of salary ranges on the internet to determine what companies are paying professionals with your background. Keep in mi

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

d that salaries range depending on a number of factors including years of professional experience, education, industry, geographic location, number of emp

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

loyees, and benefits. In order to get your estimated worth as accurate as possible, you will need to consider these factors.

Once you have done your res

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

arch, you can now enter the salary negotiation process with a firm understanding of the value of your skills in the marketplace

It’s important to approac

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

Following aspects would a

the negotiation in a professional manner and for both you and the employer to maintain the mutual respect and trust that you have enjoyed throughout the

dd to the challenges in developing combination products:

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

hiring process. After all, if the negotiation works out, you will be working for the company, so don’t burn any bridges before you start orientation.

A

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

ouple of key tips:

--Do not personalize conflict. It is important to remember that you and the employer have different interests and that negotiation is

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

a give-and-take process.

--Always be tactful and diplomatic.

--Persuade rather than coerce.

--Establish a common ground for agreement.

--Remain object

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

ve and focused on your priorities.

--Clearly describe the benefits of your proposal.

--Be persistent, but know when to let go and when to walk away.

Fi

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

Professional from academic institutions, pharmaceutical industries, health care indust

nally, be flexible in your negotiations. If you sense that an employer is making you the best possible offer based on available financial resources, cons

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

dering negotiating for a better benefits package as an alternative.

In conclusion, by taking a close look at your unique skills and understanding their v

.

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

alue in the current market, you are better prepared to approaching salary negotiation as a mutually beneficial discussion between you and the employer. S

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

Companies that provide selfless information through particip

ch an attitude will not only allow you to maintain your professionalism, but will greatly increase the likelihood that your negotiations will be a success

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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