Useful Advices - Business

Fixation of compensation or wage rates for different categories of employees in a company is

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

an important task of management. The employees are not only concerned with the wages received

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

Examples of combination products may in

but also concerned with the level wages received by same level of employees in similar organ

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

izations. Hence wage structure may be considered very important. The relative wage-rules must

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

be fixed carefully, because they have implications for promotion, transfer, seniority and ot

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

Combination pro

her important personnel matters.

Wage plan should possess certain fundamental characteristic

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

s if the long term interests of the worker, management and the consumer are to be served. The

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

wage plan must be linked with the productivity of the workers. Unless higher pay scales of w

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

orkers are linked in some way to the productivity of workers, a wage plan will not be fair ei

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

ther to the management or to the consumers.

Basic wage for each job classification should be

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

related to skill job requirements of job. Due consideration should be given to such factors

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

Following aspects would a

as skill, length of time required in learning, versatility required and working conditions. I

dd to the challenges in developing combination products:

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

n all fairness to management, the plan should usually result in a reduction of unit cost of m

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

anufacture, making possible lower prices and higher profits.

In all fairness to the consumer

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

s a share of higher efficiency should be passed on to them by way of lower price. This will b

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

e possible when there is reduction in cost due to higher efficiency. Thus the wage plan must

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

Professional from academic institutions, pharmaceutical industries, health care indust

ensure that all participate share the gains of higher productivity. The wage plan should incl

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

ude an incentive system for the efficient workers. The system should ensure higher pay to the

.

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

workers who perform work at higher level of efficiency. The wage plan should guarantee minim

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

Companies that provide selfless information through particip

um wage to protect the interest of workers against conditions over which they have no control

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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