Advice You - Business

1. Get a sky-high score on the Graduate Management Admissions Test. The average student at the top 10 schools on Fortune's list scored 700 or higher on their GMATs. (Overall, GMAT scores range from 200 to 800; the median is 500.)

2. Be your

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

self. Don't try to match some imaginary ideal. "Often, people have an image in their minds of what kind of person a given school wants," says Blackman. "Usually it's because they know someone who went there, so they try to be like that perso

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

Examples of combination products may in

n." What's wrong with that? "Business-school admissions committees aim to enroll a broad mix of different personalities and backgrounds, so they want to know who you really are - even going beyond your professional life to include any signif

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

icant experiences you may have had, like a serious illness or an eye-opening trip abroad. Tell your real story. Trying to be someone you aren't is likely to backfire."

3. Don't rush to submit your application in the first round. Different s

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

chools operate on different schedules, but in general, B-schools accept one round of applications in October and another in early January. Don't rush. "There is no particular advantage in being in the first round of applications," says Black

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

Combination pro

man. "It's much more important to submit a really great application. You do want to meet the deadline, of course, but quality counts more than speed."

4. Be ready to discuss any weak spots in your resume or your undergraduate transcript. "L

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

et's say you've been laid off three times, like one client I had. Don't just ignore that on your application. Talk about how you bounced back and what you learned from those experiences," Blackman says. "Likewise, if you have a glaringly low

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

grade or two on your undergraduate record, address the question of why that happened. Often people think, 'Well, they know I'm smart, and that was a long time ago, so it's no big deal.' But you need to explain it, because it will be noticed.

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

"

5. Be aware of the importance of recommendations. "A really common mistake is to get fixated on the essay portion of the application and overlook the crucial role of recommendations," says Blackman. Once references have agreed to write a

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

recommendation for you, it's essential to "keep in touch with them so you are sure [the letters] get submitted on time," she says. But first....

6. Make sure you've asked the right people. "Prestige is less important than how well they know

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

you," Blackman says. "Sometimes people will ask the CEO for a recommendation because that CEO attended the school the person is applying to. But admissions committees want specific examples of how you work, especially in the areas of teamwo

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

Following aspects would a

rk, leadership, ethics, and respect for others. The CEO is unlikely to know those details." Unless you work with the Big Boss on a day-to-day basis, ask your direct manager, a close colleague, or a client instead.

7. Ask one or two people t

dd to the challenges in developing combination products:

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

o review your application. But don't overdo it. "It's a good idea to ask one or two people whose judgment you trust to look over your application before you submit it, to see if they spot any flaws or omissions," says Blackman. Too many cook

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

s spoil the broth, however: "If you follow too many suggestions, your essay will end up reading as if it were written by a committee, and you definitely don't want that."

8. If you end up on the "wait list," make the most of it. "Often peop

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

e assume that being put on the 'wait list' is the same as not being accepted, and they give up. But lots of waitlisted applicants do get admitted. There's an art to it," says Blackman. "If your GMAT score was relatively low, take the test ag

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

ain. Send another recommendation or two, if you can. If the school wants you to come in for an interview, do that. And keep in touch with the admissions committee. You don't want to hound them, but it's perfectly okay to send a letter if you

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

Professional from academic institutions, pharmaceutical industries, health care indust

get promoted or if you're working on a 'stretch' assignment that broadens your skills."

9. Do your own research. Don't choose a B-school just by picking it off a list. "Every MBA program is different, and you want to focus on the ones that

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

are right for you," Blackman says. "Compare the schools carefully, and visit as many of the campuses as you can. If you can sit in on a class or two, so much the better. That way, when you're asked why you want to go to this particular scho

.

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

ol, you'll have a convincing answer - instead of just sounding like you're reading from a brochure."

10. Start the process as far in advance as you can. Planning to take the GMAT, researching schools, getting the applications, lining up you

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

Companies that provide selfless information through particip

r recommendations, and writing the essays all take time. If you wait until the last minute, you'll be rushed, stressed, and unlikely to put your best foot forward. Want to go to B-school in the fall of 2008? It's not too soon to get cracking

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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