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In the not-too-distant past, ascending the corporate ladder assured management professionals of a bigger office, a stronger compensation package and a more secure future. But today, executives are being told: Don’t get too comfortable in that cor

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

ner office, and don’t buy that fancy new car or boat you’ve always dreamed of – because your job is just as vulnerable as everyone else’s. Evidence suggests that the higher up the ladder you go, the more precarious your position may become! The a

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

Examples of combination products may in

ttitude toward executives and the roles they play within companies have drastically changed in recent years. I’ve seen executives who have been with the same company for 20 or more years. They’ve worked their way up the corporate ladder and felt

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

hat they had proven their value – then they were unceremoniously dismissed from their positions as if they had just been hired as an entry-level worker. As a Career Consultant, it’s my job to re-instill the client’s confidence, identify his or he

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 strengths, and “re-package” that individual for the current job market. But, to navigate effectively through the career transition process and ultimately make your career bulletproof, you must first be informed about what’s really going on in t

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

Combination pro

he work-world. I see several important trends taking place with regard to executive-level job stability and security, including:

TODAY’S CHALLENGING EMPLOYMENT TRENDS

Job Market Trend 1:

More and more positions, even at senior levels, are now

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

eing offered on a contract or temporary basis. The position, in these cases, lasts only as long as is needed to fulfill the employer's contract with their client. This requires job seekers to think differently – more like an independent consultan

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

t who works on assignment – rather than as a permanent employee. In many business sectors and industries, it could be said that the “permanent, full-time job” no longer exists as we knew it. This trend also puts the responsibility on the part of

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

the executive to consistently promote and market himself or herself for the next opportunity – and the one after that!

Job Market Trend 2:

Companies are still very cautious and careful about making any hiring decisions of high-paying, senior ma

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

agement positions. Executives seeking such jobs must now “sell themselves” more than in the past. They need to demonstrate just how they will enhance the company’s productivity, efficiency and profitability – or they probably won't get the offer.

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

This means that the job seeker really needs to learn how to effectively present and market himself or herself. Just having the right job titles on one's r?sum?, or having the appropriate technical skills for the job, are no longer enough.

Job M

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

Following aspects would a

arket Trend 3:

Executives are receiving smaller career transition programs than ever before from the large outplacement firms – and many displaced professionals are getting no career transition programs at all. This means that greater numbers of

dd to the challenges in developing combination products:

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

executives are seeking-out help from smaller, more personal career consulting firms and career support groups.

STRATEGIES TO BULLETPROOF YOUR CAREER

Although the transition programs mentioned above do offer important career management technique

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

s, let me share with you the most important activities you should always be doing to overcome the challenges outlined above, and bulletproof your career for the future:

1. Keep all your success documents up to date
2. Put time aside every w

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

eek for active networking
3. Join and take leadership roles in appropriate associations
4. Write articles or do presentations in your area of expertise
5. Continue your career education, including new credentials
6. Research a

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

d be aware of the competition
7. Offer to help people in your network on a regular basis
8. Look at new jobs and investigate other opportunities
9. Always ask yourself, “How can I contribute more?”
10. Practice your networking

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

Professional from academic institutions, pharmaceutical industries, health care indust

, interviewing and negotiating skills

If you want your career to be truly bulletproof, you’ll need to educate yourself on topics you probably thought you’d never have to worry about again – like self-marketing, networking, interviewing and negot

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

iating. To master these skills, many management professionals are also discovering helpful online resources and free audio seminars.

And here’s the GOOD NEWS: If you seek-out the right support and leverage vital resources like those mentioned ab

.

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

ve, you may actually be thankful for the experience of going through transition – ultimately finding a career or landing a job that will be a much better “fit” than those you’ve previously had.

---------------------------------------------------

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

Companies that provide selfless information through particip

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Permission to Reprint: This article may be reprinted, provided it appears in its entirety with the following attribution: Copyright © 2006, Ford R. Myers and Career Potential, LLC.
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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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Procurement can be defined as the purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. These good and services are also purchased at the correct time and location for the express gain or use of government, company, business, or individuals by signing a contract.

If you have or want to have a business, you need to read this. This is the most important information everyone should know before they take a risk with their money.

It can be a bit of a dilemma deciding whether to open a business bank account when you first startup. This article gives you some good reasons as to why you should do so.

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