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You’ve enjoyed your career for the past twenty years – maybe more. And now you’re wondering: Maybe it’s time to switch gears. A whole new career. Work

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

at home. Retire.

Or maybe you’re forced to revise your career due to layoffs or transfers.

(1) Expect midlife career change to be easier than enterin

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

Examples of combination products may in

the world of employment for the first time.

Most likely you enjoy a financial cushion: savings, home equity, and a retirement fund. You also have

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

demonstrated skills and experience. If you’re employed, your company probably offers resources for developing new skills and managing the transition.

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

(2) Expect midlife career change to be harder because you’ve invested in a career identity – way beyond skills and values. . When you introduce yours

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

Combination pro

lf as, “Here’s what I do...” you are also saying, “Here’s who I am.”

(3) Expect to change your appearance as you change careers.

Sadly, many individu

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

als and organizations really do judge a book by its cover. Clients who want to start a business often are surprised by the increased need to dress u

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

for presentations. An Armani label on a suit? A good start. But are yu wearing this year’s suit? Colors that your target market deems “appropriate?”

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

Many career changes have opted for lower income in exchange for the opportunity to stay home and work in sweats or shorts – and, for women, say good-b

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

to high heels and pantyhose forever.

(4) Recognize that career change often requires a geographic move.

Let’s face it: Some places are just better f

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

r some careers. Your cost of living may be lower in a small city, but your opportunities to network will be limited. On the other hand, the lower cos

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

Following aspects would a

t of living may allow you to experiment with riskier ventures.

Often your own business doesn’t depend on geography. Examples include Internet business

dd to the challenges in developing combination products:

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

s, mail order shipment, and free lance writing. But you may need to keep on top of mainstream trends and where you live can influence your credibility.

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

(5) Expect to change your roles in all aspects of your life.

Family and community will view you differently. Some community groups assign You may ha

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

e more or less time for your family (and they will view you differently). Board members based on the prestige of their day job. Some volunteer activiti

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

s require you to be available on certain weekdays.

(6) Plan for a new social support system.

Lunch with coworkers. Drinks after work. Dinner with old

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

Professional from academic institutions, pharmaceutical industries, health care indust

friends on Friday night. You don’t realize how much you enjoyed this support until it’s gone.

Friendships change. When you leave a career, former c

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

lleagues can regard you with envy or suspicion. They won’t understand your new world and the new challenges you face.

(7) Forget the myth, “If you c

.

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

an’t be happy here, you won’t be happy anywhere.”

Many of my clients experienced career change following what seemed to be a midlife crisis. They were

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

Companies that provide selfless information through particip

surprised to find their whole world looked different.

And that’s why I say, “Career breakdown can be the first step to your major career breakthrough.

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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There are many different government grants available, from a great many different sources, and these government grants can be a godsend for anyone trying to start a new business, put themselves or their children through school or even buy a first home.

Color printing furnishes reproduction of images and text in color, which cannot be produced in monochrome printing processes. The technique is also referred to as four-color process printing when only CMYK, i.e., cyan, magenta, yellow, and black are used while printing. Six-color process printing is another method of color printing that involves addition of orange and green colors to the traditional CMYK color scheme, making possible more vibrant color combinations.

In regards to the Enron Collapse various parties have and may still be found to have a portion of the blame and shareholders and employees who have suffered most are certainly keen to see final outcomes to this situation. However one of the major contributors may never be accounted for; this being the market itself. When we ask how much blame we are really looking at dollars lost. In December 1999 the share price was $US100 plus, in March/April 2000 period it was around $US55 to $US60. On 19th December 2000 the price was $US 0.19, that is 19 cents before Enron went into liquidation. Using the Reported Annual results for the year ended 31st December 1999 and assuming no changes into the future, I have calculated the underlying intrinsic share price as $US4.54. This calculating is based on normal traditional discounted cash flow methodology. Is it any surprise that the share price of Enron was destined to decline sharply? A rapid decline in share price can lead to a lack of confidence in the stock and further add to the decline in price.

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Digg It - Career Advice for Your Midlife Crisis: 7 Tips

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