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Advice You - Are You Suited for Self-employment?
A recent poll conducted by Yahoo! Small Business
showed that nearly 3 out of 4 Americans have considered
starting their own business.
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
In fact, of more than 2,200
adults surveyed, over half (51 percent) said they would
like to launch their small business within the ne
; 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
xt 5 years.
Clearly, entrepreneurship is a part of the American Dream. But is everyone suited to being his or her own boss? Here’s a
Clearly, entrepreneurship is a part of the American Dream. But is everyone suited to being his or her own boss? Here’s a
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
0-question quiz that can give you a quick
idea of your chance for success if you decide to go out
on your own. Keep track of the score
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
on a separate sheet
of paper. Be honest. Give yourself a “2” for every “yes”
answer, a “1” for every “somewhat” and a “0” for every “
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
o”.
1. Are you organized? Do you like to make lists and prioritize your day?
[ ] Yes [ ] Somewhat [ ] No
2. Are you task-oriente
1. Are you organized? Do you like to make lists and prioritize your day?
[ ] Yes [ ] Somewhat [ ] No
2. Are you task-oriente
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
d? Can you focus on a specific task
until it’s completed? Or do you frequently leave things
unfinished?
[ ] Yes [ ] Somewhat [ ]
[ ] Yes [ ] Somewhat [ ]
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
No
3. Are you comfortable working with a personal computer? Do you have good computer skills?
[ ] Yes [ ] Somewhat [ ] No
4. Are
3. Are you comfortable working with a personal computer? Do you have good computer skills?
[ ] Yes [ ] Somewhat [ ] No
4. Are
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
you goal oriented? Do you have a 1-, 3- and 5-year
plans for where you want to be?
[ ] Yes [ ] Somewhat [ ] No
5. Do you have a w
[ ] Yes [ ] Somewhat [ ] No
5. Do you have a w
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
ide network of friends and colleagues from
previous organizations you’ve worked for, or schools and
organizations you belong to?
[ ]
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
es [ ] Somewhat [ ] No
6. Are you comfortable serving other people? Have you ever worked in a service role before?
[ ] Yes [ ] So
6. Are you comfortable serving other people? Have you ever worked in a service role before?
[ ] Yes [ ] So
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
mewhat [ ] No
7. Would you characterize yourself as friendly, cheerful, and easy to get along with?
[ ] Yes [ ] Somewhat [ ] No
7. Would you characterize yourself as friendly, cheerful, and easy to get along with?
[ ] Yes [ ] Somewhat [ ] No
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
8. Would you say that you have a marketable skill that is
needed by other people or companies?
[ ] Yes [ ] Somewhat [ ] No
9. Ar
[ ] Yes [ ] Somewhat [ ] No
9. Ar
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
you willing to work extra hours at night or on
weekends to meet deadlines or to make more money?
[ ] Yes [ ] Somewhat [ ] No
10.
[ ] Yes [ ] Somewhat [ ] No
10.
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
Is making money and being financially secure more
important to you than having “status” symbols
like a fancy office, expensive car or
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
a big title?
[ ] Yes [ ] Somewhat [ ] No
Your score:
Okay, add up the total. Remember, you should have given yourself a “2” for
[ ] Yes [ ] Somewhat [ ] No
Your score:
Okay, add up the total. Remember, you should have given yourself a “2” for
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
every “yes” answer, a “1” for
every “somewhat” and a “0” for every “no”.
11-20 = You’re definitely suited for self-employment.
6-10
11-20 = You’re definitely suited for self-employment.
6-10
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
= You may be suited for it, but should learn more
and work on your skill set and service orientation.
0-5 = Don’t leave your day job.
0-5 = Don’t leave your day job.
.
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
Self-employment isn’t for everyone. It often requires a highly-motivated, self-starter type of person who would gladly work long ho
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
urs each day because they
love what they’re doing. If you’re that type of person…
maybe it IS time to break free and live your dream
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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