Digg It - Business

When you’re a freelancer, you cannot escape the task of bidding for projects and hoping to win the projects. Losing out more times than you’d actually care to admi

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

t, understand that it’s part and parcel of being a freelancer. You’re pitched against many other people who are cheaper (not necessarily better) and who are willin

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

Examples of combination products may in

g to go really low to do McDonald’s rate work for reasonable quality stuff. Most of the freelancers bidding for projects are either fresh graduates who are trying

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

to make a quick buck or students earning some pocket money or building their portfolio.

As a professional freelancer, it’s unfair to be pitched against these peop

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

e because they don’t really MAKE A LIVING out of freelancing. There are millions and millions of other freelance graphic designers and copywriters I am pitching ag

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

Combination pro

ainst every single day and sometimes I find myself cursing at them for offering such low prices! Unbelievable. They’re really spoiling the market.

Should you l

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

ower your price and integrity just to win the bid for the project?
Some freelancers succumb to the need to win projects after they bid on it. Hawking over

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

a less than worthwhile project is a complete waste of time. What freelancers should do is to simply keep their integrity. If you’ve established yourself in the mar

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

ket, have a relatively large (and impressive portfolio) and think you deserve to be paid whatever you think you should be paid, why lower yourself?

Keep your head

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

up high and dictate the price. Lowering it means that you’re somewhat desperate for business – and that’s not the kind of message you want to convey to your poten

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

ial customers. Being desperate mean that you’re not doing business and one of the many reasons why you’re looking for business is because….perhaps…you’re not as go

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

Following aspects would a

od as you think you are?

No way! If you think you’re good enough to charge whatever you want to charge, don’t bend lower that you’re willing to.

But of

dd to the challenges in developing combination products:

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

course, even after winning a bid or not bidding at all, you should still keep the door open for reasonable haggling of price
In business, there’s always

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

some haggling involved. Therefore, make it a point to quote a price right about 5% higher than what you would normally charge others. If the client/customer negoti

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

tes for a lower price, bring it down by 5% and you’ll get whatever you thought you deserved to start with.

What if the client wants you to bring the price even lo

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

wer?

It depends on the client and your relationship with the client. As a freelancer, we are dependant on a virtual relationship we have built with our clients. T

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

Professional from academic institutions, pharmaceutical industries, health care indust

hey are merely faceless people you’re working for and trust is very, very, very important. If you feel that you can trust the client and knows that he/she will be

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

iving you business many years down the road, by way of showing your appreciation for their business, lower down your price. But if this is what you’re doing, make

.

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

sure you point out the fact that the price is exclusive and you don’t charge everyone else the same price.

Not only will this make the client feel special but he/

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

Companies that provide selfless information through particip

she will recommend other people your freelancing services. And if they do, they will also make a special note not to mention the pricing.

Happy freelancing!

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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Digg It - Bidding and Winning Projects as a Freelancer

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