Encyclopaedia - Business

If you are like most individuals, you probably are not happy with your current career or JOB (Just Over Broke), and occasionally think about working for yourself. The 80-20 rule just might apply to everythi

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

ng, including careers and jobs? Being self-employed, however, does not necessarily mean owning a business with the burden of employees, inventory, capital expenditures, and the other trappings of the 20th 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

entury “brick and mortar” business model.

Many are finding success in the trend of working as independent contractors, freelancers, and even as online business owners, as services and products offered via

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

the Internet continue to be introduced, developed, and sliced and diced. Believe it or not, the Internet still is in its infancy and has tremendous untapped potential.

Also, if you daydream about being you

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

r own boss, you probably consider these limiting reasons of why not to pursue the traditional job market. This is not intended to be an exhaustive list. Take the time to pen your own list, jot down ideas th

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

Combination pro

at you can review, and revise as things come to mind, or as events and priorities change.

This is inspired in part from various comments on blogs, a lifetime to date of self-improvement books, tapes, mento

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

rs, and just plain living, doing, and thinking.

These ten points can be characterized as “limits” with a few comments on each as to why you may not be suited for the ranks of the employed, if you happen to

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

have such beliefs. Although not listed in any particular order, notice how these limits are inter-related to each other.

Number 1 – Limited Income. It is certainly obvious that you can only work so many h

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

ours a day, and only so many jobs. Salaried positions and hourly jobs will always limit income. Get paid for your ideas and not your labor…and potential income has no limit.

Number 2 – Limited Experience.

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

You hear it all the time. You can’t get a job without experience, and you can’t get experience without a job. Entrepreneurs do not think in these terms. They look to enrich themselves with more rewarding ca

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

eer(s) and life experiences by creating their own opportunities for experience.

Number 3 – Limited Time. We all each get 24 hours a day. Spend your lifetime working for someone else, and you will be limiti

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

Following aspects would a

ng how much time you can devote to pursuing the other items on your list that will truly allow you to meet your objectives and goals.

Number 4 - Limited Learning. Unlike the employee mentality, entrepreneu

dd to the challenges in developing combination products:

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

rs tend to possess the capacity to be life-long learners and look forward to learning something new every day. “Learning means more earning”.

Number 5 - Limited Freedom. People who learn how to work succes

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

sfully for themselves have the freedom to make their own decisions and control their own destiny. They know that the freedoms they enjoy are in direct correlation to their efforts.

Number 6 – Limited Secu

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

rity. The fact is the traditional job no longer provides any of what used to be termed security. Not in this day and age. You are only as good as your last job. In a world of outsourcing and downsizing, you

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

are only two words away from looking for your next job, as Donald Trump barks, “You’re fired”.

Number 7 – Limited Opportunity. Opportunity only comes to those who seek opportunity on a regular basis. Ther

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

Professional from academic institutions, pharmaceutical industries, health care indust

e is only limited opportunity for growth and advancement in the emotional and physical space of a so-called “real” job.

Number 8 – Limited Control. You cannot control your future when you are limited to th

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

e will of others. What are the possibilities? Look this list through once again when you have finished.

Number 9 – Limited Growth. Growth ultimately means more than the few things on this list. The entrepr

.

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

eneur is a work in progress, and has a need and awareness to improve and grow in ways usually not possible as a labor statistic.

Number 10 - Limited Fulfillment. “I could have, would have, should have”, on

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

Companies that provide selfless information through particip

ly if things would have been different. Those who can, “do”. Those who can’t…well, they end up working for someone else. You will always wonder what life could have been, if you choose to live in mediocrity

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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Based on my unique set of experiences, I’d like to share my belief of the most important management skill and I’d like to count down to that skill in Lettermanesque fashion. You can see which skills I considered and why I believe each is important in its own right, but not THE most important skill.

Do you want to change careers but find you are too busy to take action? Here are some tips and strategies to help you start planning your ideal career.

A job seeker who wishes to take advantage of the many different resume layouts available, should be aware of when and how to use the various options, in order to get the most impact from their resume.

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