Main Subject - Business

Almost all interviews end with salary negotiations. This almost invariably is an indication that the employer is seriously considering hiring you. But unfortunately, many bril

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

liant job seekers, including experienced ones, stumble at this step. Not getting it right at this point can result in you ending up on the losing side.

You Can’t Negotiate Sa

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

Examples of combination products may in

ary If…

The success in negotiating for a higher salary lies in understanding and rectifying the lacunae on your part. At the same time, it also depends on the employer’s fina

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

ncial standing and a host of other issues. Here are a few circumstances where you can’t negotiate salary successfully:

1. When you failed make a positive impression on the in

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

erviewer. This could happen for various reasons; one, you have not proven your ability to take on the responsibilities of the job successfully, and two, you are bright academi

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

Combination pro

cally but the job requires more experience than you have.

2. A sense of entitlement will definitely ruin your chance for successful salary negotiations. An example: you deman

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

ed a manager’s salary while being interviewed for a supervisor’s position. Do your research and you won’t get the short end of the stick.

3. You are being hired as replacemen

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 for a departing employee. Again, the negotiation will have a limited scope. If you are filling a retiring worker’s position, in all likelihood, the company will be the ones

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

o gain in the salary area.

Negotiating A Higher Salary In The Job Interview

All positions have a structured salary matrix, with each one having a range within which you can

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

negotiate although there are some exceptions. Successful negotiations require some important qualities aside from technical knowledge. These are called “soft skills”.

1. Rese

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

rching The Salary Strategy Of The Employer: Some employers advertise the salary they offer. When they don’t, research it by consulting HR professionals or employees of the com

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

Following aspects would a

pany who are likely to have an idea and can also chip in with some tips. Many employers have long-term goals and may want to study you over time before increasing your salary.

dd to the challenges in developing combination products:

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

You must do exceedingly well to cross their strategical limits even though this might apply for only higher management positions.

2. Highlighting The Cost Benefit To The Comp

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

any: Even though employers have done this exercise already, there could be points that might not have surfaced during the interview. Highlighting the benefits of hiring you at

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

a particular salary may well turn out to be surprisingly beneficial for you.

3. Never Suggest A Figure: This can very likely backfire. By chance, if you ask for a lower salar

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

y than the company may be considering for you, without batting an eye, the employer will immediately adjust your salary. Wait for the employer to come up with a salary figure.

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

Professional from academic institutions, pharmaceutical industries, health care indust

4. Make A Counter Offer: Negotiating is about revisiting the matter again. It doesn’t end the moment you both suggest a figure. Making a counter offer suggests to the employe

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

r that you have a willingness to accommodate certain limitations on their side.

5. Indicate Your Willingness To Accept Benefits: Since benefits are components of salary, you

.

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 adamant on cash pay alone.

6. Discuss The Salary Offered: When the employer makes an offer, it is likely that he will have some cushion for negotiation. Don’t be afra

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

Companies that provide selfless information through particip

id to ask for more money! The fact is, no company will throw out their highest, max figure first. Be mindful of this during negotiations, and you are likely to be successful

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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