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It’s crunch time. Are you ready for smart salary negotiations?

Let’s say you’re a finalist

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

. There are a couple other candidates. But an employer has advised you that you are well-qu

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

Examples of combination products may in

alified for the job opening for which you’ve been interviewing. Now he/she wants to know wh

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

at kind of money you’re looking for.

What can you do to maximize your salary?

Here are som

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 tips that can help you dramatically move the odds in your favor:

1. Do your homework. R

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

Combination pro

search the salary range by checking out friends in the same business. Also, go to www.monst

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

er.com. Click on the link for “Career Advice” and go to “Salary Center”

2. Don’t let the i

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

nterview get into money issues prematurely. You don’t want to be ruled out because you’re p

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

erceived as too expensive. Tell the interviewer, “I’m confident this position pays a compet

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

itive salary. And I’ll be happy to discuss compensation when a mutual interest has been est

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

blished.”

3. When it’s time to discuss salary, don’t negotiate on the basis of what you’ve

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

Following aspects would a

been making. Negotiate on the basis of what the job you’re being offered is worth.

4. Try

dd to the challenges in developing combination products:

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

to find out what the company is offering before you mention a number. For example you can s

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

ay, “Thanks for your interest in me. Since you brought up compensation, what is the salary

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

range for this position?”

5. If you’re required to mention what you’re looking for first, 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

ways talk about a range . . . 20% on either side of the number you’re looking for.

6. Be su

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

Professional from academic institutions, pharmaceutical industries, health care indust

re to go beyond base salary in your deliberations. Benefits, bonuses, profit sharing and st

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

ock options can significantly enhance the overall value of an offer.

Handling salary negoti

.

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

ations can be stressful. After all, this is where your job search culminates. Preparing yo

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

Companies that provide selfless information through particip

urself in advance and practicing these strategies out loud can put you way ahead of the game

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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