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Advice You - Understanding The True Cost Of Corporate Office Space
How do I assess my true office accommodation costs?
We have been asked by a number of clients to he
We have been asked by a number of clients to he
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
lp them identify the true cost of an office or location. Here is a guide to the factors you should c
; 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
onsider to assess total accommodation costs.
The UK Department of Trade and Industry commissioned a
The UK Department of Trade and Industry commissioned 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.
report into remote working in 2005 and found that a significant operational cost reduction was achi
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ved.
In a recent report the following figures were published from a study of 13 large corporations,
In a recent report the following figures were published from a study of 13 large corporations,
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
spanning some 30 teams (1.0)
• 86% of managers and 74% of staff spend time out of the office durin
• 86% of managers and 74% of staff spend time out of the office durin
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
g any month.
• An average office worker spends 10-20% of time away from their desk.
Taking the abo
• An average office worker spends 10-20% of time away from their desk.
Taking the abo
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
ve we can calculate, in rough terms, the expected usage of accommodation to staff ratio. (This is on
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
y a guide and further study of any organisation will be required.)
Total cost of location – In orde
Total cost of location – In orde
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
r to calculate the exact costs of providing a desk, a number of factors need to be considered. A rec
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ent report from The City University Business School calculated the average desk cost as follows;
•
•
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
Central London - 20K per desk per year
• Other major UK cities - 13k to 8k per desk per year
The
• Other major UK cities - 13k to 8k per desk per year
The
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
above is inclusive of all service costs to the desk and space such as corridors or larger personal e
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
nclosed office space. We can use these figure to show wastage costs per office or team.
Example:
1
Example:
1
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
00 staff with 10 managers
100 staff of which 74 are out of the office 10% of the time = 7.4 empty d
100 staff of which 74 are out of the office 10% of the time = 7.4 empty d
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
esks
10 managers of which 8 are out of the office 10% of the time = 0.8 of an empty desk.
Total ye
10 managers of which 8 are out of the office 10% of the time = 0.8 of an empty desk.
Total ye
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
rly cost = 8.2 desks at 8k per year 65.6k
(This does not include sickness or holidays)
(Remember t
(This does not include sickness or holidays)
(Remember t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
hat unless you maximise the space left, savings will not be made in direct accommodation costs.)
Co
Co
.
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
nclusion - It is recommended that a short study is commissioned to look at potential within the orga
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
nisation and identify an appropriate project that will bring cost savings and increased productivity
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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