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After all, the most common reason for people to start their own businesses is to allow them to take control of their lives and find a b

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

etter work-life balance.

How much Much is your Your Time Worth?

Let's say you want to earn ?30,000 / $50,000 per year from your busin

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

Examples of combination products may in

ss. After weekends and holidays, you work 200 days of the year and you do 10-hour days. That means your time is worth ?15 / $25 per hou

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

. Remember that when deciding how you are going to spend it.

Definition of Time Management

Time management is the organisation and ex

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

cution of work and leisure activities based on always prioritising what needs to get done.

Advantages

• Achieve control over your lif

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

Combination pro

• Balance work, rest and play
• Be pro-active rather than reactive
• Relieve pressure and stress
• Stop workin

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 on time
• Increase your personal sense of achievement

Action Checklist

Plan your year first and your day last

1) Enter key y

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

arly planning dates in your diary:
• Regular Meetings
• Known one-off events – trade fairs, company accounts, Board board m

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

etings
• Holidays
• Family Occasions
• Planning days

2) Plan your next month:
• Count the available unplanned

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

ays available
• Duck less important events
• Reserve a free day each week
• Reserve key task time (review sales, do e

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

penses, plan marketing activities)

3) Plan this week:
• Develop regular habits (e.g., review of weekly figures, preparation of m

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

Following aspects would a

anagement accounts, writing down expenses, etc.)

4) Plan each day at the outset:
• List and prioritise jobs. Give each a time an

dd to the challenges in developing combination products:

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

a deadline
• Make a list of phone calls and allocate a time when you will get through them
• Tackle jobs based on the impa

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

t they will have on the business
• Do the tough jobs before the more enjoyable ones
• Don't be too ambitious
• Be rut

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

less with paper and post that you don't really need
• Make a list at the end of each day of what you did not get done and a list

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

f what you want to do the following day
• Build an ‘interruption hour' into the day

Get the Whole View

At the end of each week,

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

Professional from academic institutions, pharmaceutical industries, health care indust

think about what you have achieved in the context of your monthly and yearly business goals.

Get a Diary Format

To be really efficie

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

t, you need to create a diary format that helps you plan ahead and prioritise. You should also include leisure activities in this diary

.

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

to ensure you are balancing work and pleasure.

And Finally……

Don't forget to reward yourself for achieving your goals. Go out to dinn

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

Companies that provide selfless information through particip

r, buy yourself something or take a holiday.

If you manage your time well, running your own business will be the best job in the world

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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Useful Advices - The Entrepreneur's Guide to Taking Control of Your Time

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