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Cases - Redundancy Advice - Why Am I Being Made Redundant?
If your company is making you redundant it’s important to think about the business reasons why this might be the case. Not only does it help y
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
ou appreciate why they may be considering job losses but it also helps you avoid similar problems in the future.
Changes In Technology – Almo
Changes In Technology – Almo
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
t every industry relies on technology in some way. Usually the technology makes workers lives easier. However sometimes the machines or softwa
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e can render the user obsolete. It’s never nice when technology is responsible for your redundancy. You can however, take the redundancy as a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ue to move to another industry or to carry out extra training to make you less susceptible to these kinds of changes in the future.
Increased
Increased
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
Competition – If your company is doing well there’s every chance someone will try to replicate what your business does. If another competitor
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
is doing well it may well affect the cash flow to the extent that people like yourself might find themselves surplus to requirements. However
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
he success story of the other company may not be all bad, you might find yourself perfectly qualified for a job within their organisation. If
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
heir business is doing particularly well you might even get paid more.
Outsourcing - As the world develops, a number of the countries of the
Outsourcing - As the world develops, a number of the countries of the
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
orld are becoming more competitive. These nations which often offer lower wages but equivalent skills are putting themselves forward for outso
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
rced work. As they often can produce similar quality of work for lower prices it can lead to redundancy and job loss at home. While being mad
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
e redundant due to out sourcing can be demoralising, it needn’t be. See the redundancy as an opportunity, whether it’s a new business, a caree
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
break or retraining, you now have the perfect motivation.
Increasing Costs – Often as a company gets older and larger they can incur additio
Increasing Costs – Often as a company gets older and larger they can incur additio
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
al costs. Sometimes it’s just overheads and other times just inefficiencies. If these costs are increasing but sales are static or falling the
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
e is great pressure to reduce costs. Unfortunately one of the most simple, but often short sighted, cost cutting techniques is redundancy. If
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
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
he business has got to this stage without the discipline of keeping costs under control you might be better off elsewhere in the long term.
B
B
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ad Debt – Cash flow is a huge problem for businesses. While over a full year they might make money; from month to month their finances may be
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
uch more precarious. Much in the same way you spend more of your wages some months than other so can a business. Unfortunately for the people
.
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
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
nvolved a company tightening its belt can often lead to job losses.
While it’s never nice to be made redundant understanding the business thi
While it’s never nice to be made redundant understanding the business thi
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
king behind the lay off can often help you realise that the decision wasn’t personal and that you shouldn’t let it affect you in the long term
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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