Advice You - Business

In the world of human resources (HR), everywhere you turn these days people are talking about diversity in the workforce. In particular, companies that operate globally are aware that to go beyond what is requ

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

ired of them legally and morally in eradicating discrimination can bring about a positive climate that will engage their employees, improve their productivity and enhance the effectiveness of their organizatio

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

Examples of combination products may in

. The view has long been held that by encouraging applications from candidates across the broad spectrum of age, gender, race and disability, companies can acquire a wide range of knowledge and perspectives an

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

thereby increase their competitive strength on a number of different levels.

What is workforce diversity?

Most people refer to workforce diversity as employing people from identity groups tha

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

may lack representation in their existing workplace structures, either across the organization or at the departmental level. In certain industries, there are strong logical arguments to encourage diversity in

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

Combination pro

different sections of the business; for example, an employee could bring with him 'buy-side' knowledge about a particular demographic group.

There is more to diversity in the workplace than this, however. Com

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

anies need to start looking at diversity more comprehensively and begin to relate the benefits of an employee's potentially unique perspective to new and creative approaches to working. And it is here European

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

companies have a significant opportunity. Operating within a collection of 25 national states with a combined population close to 460 million people, European companies have the ability to leverage this diver

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

ity to their competitive advantage and to strengthen their position in the global economy.

European companies, by positively embracing the unique conditions of the European Union, can assemble richly diverse

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

orkforces to contribute to the innovation and creativity of knowledge-based organizations in which employees can learn from each other and stimulate growth.

At the executive end of the pharmaceutical market,

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

here is now more attention given to searching across borders to identify and recruit the management talent needed to steer a company. This approach is now readily employed in key technical skill areas, where t

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

Following aspects would a

e dearth of resources in local markets is continuing to present recruiting challenges. Whether this trend exists because companies wish to encourage diversity, or simply to spread the net in the hope of accele

dd to the challenges in developing combination products:

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

ating appointments, is difficult to gauge, but ultimately it is a positive course to set and must be employed at all levels of the organization.

Using workforce diversity

What is clear is that

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

having a diverse culture within your organization does not ensure that a company will improve its effectiveness in researching, developing or commercializing new products in the global market place. It is how

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

you organize this diverse workforce that will harness the advantages they bring. Leadership and management must cultivate a working climate in which it is acceptable for people from diverse backgrounds to cont

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

ibute their ideas and contest current practice.

This variety of opinion must be truly valued and should lead to constant learning as ideas and experiences are shared and new ways are found. Fostering this typ

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

Professional from academic institutions, pharmaceutical industries, health care indust

of culture is difficult, however, and those companies that instil the necessary values will gain greater returns from their diversity. The challenge of diverse workforces begins with opening the doors but fin

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

shes with the opening of minds, and leads to the ideas and insight that these individuals contribute to strengthening your company through alternative and effective approaches to the process of work.

If Europ

.

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

an companies are progressive, and can begin to adopt viable alternative working patterns such as remote working, they will be able to attract and employ larger sections of the European and global workforce. Wi

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

Companies that provide selfless information through particip

h effective management and organization of people, and by looking at diversity holistically, they can unlock the true potential that a diverse workplace can offer and take advantage of their unique positioning

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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