Useful Advices - Business

When people from my grandfather’s generation retired after being with a company for decades they got gold watches. Gold watches no

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

longer exist as far as companies are concerned. Now companies give out pink slips (a.k.a. their walking papers) after 25 years of s

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

Examples of combination products may in

rvice. We are living in a different world but it is humorous to me in a way.

Companies no longer have loyalty to those employees t

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

at have been loyal to them for years and years of service. When it is clear that companies no longer care about their employees in

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

ost cases, it is funny to me when the management of a company gets upset when the employees are no longer loyal to them either. The

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

Combination pro

y still expect the employees to be loyal without giving it in return. The same applies for customers. They get upset when a custom

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

r of 25 years leaves for a company just because of a cheaper price.

I have said in a previous article that I work for Liberty Mutua

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

Insurance. Since I have gotten in the department I am in now, which is Personal Sales, I have seen some very good employees either

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

forced out the door or forced into taking demotions. The new management comes in and decides they want their own people in place.

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

They either eliminate positions to get some people out the door or they just “performance manage” them out the door.

I am not singl

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

ng out Liberty Mutual by any means. In fact, I suspect other companies are even worse because Liberty has historically been a very

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

Following aspects would a

onservative company. Other more aggressive companies are probably laying even more people off, or pushing more people out the doors

dd to the challenges in developing combination products:

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

so they can replace them with “their” people who are younger and cheaper.

I am also not saying that some of the older people do not

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

deserve to move on. Some people I have managed over the last year and a half in this department just do not want to be here and th

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

y make it obvious. They continue to do things the way they have always done it. They make little effort to learn new technologies

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

nd procedures to keep up with the changing business world and customer’s demands. These people are not the ones I am referring to i

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

Professional from academic institutions, pharmaceutical industries, health care indust

this article. I am referring to the people who are on top of their game, still making a significant contribution to the company an

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

d they are just forced out because management does not like them.

I think Liberty Mutual is one of the last companies that still ha

.

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

a large population of employees who have worked their whole career for the company. I also think this is not going to be the case

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

Companies that provide selfless information through particip

ive or ten years down the road. It is a shame that business has become so ruthless and does not care about the employees any longer

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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To know which of incentive and rebates would work better with your customers, you need to ask yourself five key questions: Question #1 Is Majority of Your Customers Women? If so, then either's fine because women love to shop, and they love to shop more if you're offering them additional benefits to do so. You need to understand that women – most but definitely not all of them – need no reason at all to shop so they'll love you more if you're offering them a legitimate reason to shop.

In discussing entrepreneurship, it often aids understanding when we begin by agreeing on exactly what the word means to us. Beyond the dictionary version, there are considerations that can determine how our venture is viewed by others.

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