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Main Subject - Four Cs for Restructuring: Communication, Concentration, Cost Cutting and Cash
Restructuring is not a slash-and-burn exercise, but one that calls for the surgeon’s skills.
It does not require the use of a parang or long knife but the
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
surgeon’s lancet. The
restructuring process may involve re-engineering, downsizing, rightsizing and delayering.
These all require the use of the same b
; 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
asic techniques and approaches.
During the restructuring exercise, remember to use the 4 Cs.
Communication: The manager needs to communicate personally th
During the restructuring exercise, remember to use the 4 Cs.
Communication: The manager needs to communicate personally th
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
restructuring plans
truthfully to the staff. Similarly, a doctor does not delegate to a nurse the task of briefing
the patient about his ailment and tr
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
eatment. You need to communicate the restructuring
plans personally. Regular communication with all the staff, shareholders, board members,
customers an
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
d business associates is necessary to get their buy-in and support for the
restructuring plan. It is also very important that whatever you promise, you ne
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
d to
implement and deliver. There are many anxious and impatient people waiting to know
the progress and outcome of the restructuring programme. You nee
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
d to keep them duly
informed. You need to “walk the talk”, otherwise it is like shouting at a dead body to
leave. The dead body will not leave but your
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
friends may.
Concentration: The surgeon operates on only one patient at a time. Similarly, the sick company needs to concentrate on its core competence.
Concentration: The surgeon operates on only one patient at a time. Similarly, the sick company needs to concentrate on its core competence.
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
uring bad times, you need to
concentrate even more as resources are scarce. If possible, sell away all non-core
businesses. In desperate turnaround situ
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ations, your focus should be as sharp as laser.
You cannot afford to be hazy, sloppy or uncertain as these will impinge on your limited
resources. Dives
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
t away non-core businesses so as to concentrate on the focused areas.
Cost cutting: It is an important antidote or effective remedy to administer especial
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
y in
desperate situations. Cut costs to the bones without injuring the muscles and organs. If
circumstances permit, amputate non-profitable businesses r
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
ather than try to bandage and
apply stitches. Investigate into cutting your fixed and variable overheads by outsourcing,
downsizing, delayering and acro
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
ss-the-board salary cut. Every cent saved or cut goes
right into the bottom line.
Cash flow improvement: Cash flow is your lifeblood. Slipping into losse
Cash flow improvement: Cash flow is your lifeblood. Slipping into losse
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
may give you a
migraine but a sudden shortfall in cash flow will cause immediate massive heart attack.
Try to reduce your inventory, purchases, perks,
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
credits to customers, outstanding debts
and related items without hurting the company further. Ensure that your receivables are
promptly collected. Nego
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
tiate with your creditors for extension of the credit limits or
source for more credit lines or more time to pay back the debts. You need to do whatever
.
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
you can during the financially tight situations to quickly improve the cash flow position.
Typically in a major restructuring exercise, the timing is extre
Typically in a major restructuring exercise, the timing is extre
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
mely short for you to
deliver the positive results. There are many things to do and remember. However, you
need to prioritise and remember these four Cs
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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