Main Subject - Business

But now the fact is rising pay scale may dull India’s IT Outsourcing Industry. It is found that country

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

’s IT services is getting more and more expensive day by day. Pay scales of the employees in the country are a

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

Examples of combination products may in

so rising rapidly.

Demands and expectations of the employees are also increasing with their increasing demand

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

in the market. Inspite of the fact that with an anticipated rise of around 28% in the financial year 2005-06,

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

corching rise carry on to be the trend this year also. Till date country has the monopoly in the IT industry a

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

Combination pro

s far as IT Outsourcing is concerned. Along with Offshore Software Development country is also demanded

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

for BPO services. Lots of overseas big giants have their presence in India for such IT services.

But now the

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

ime has come to think something about the rising salary of the employees in India. Foreign countries used to c

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

me to India as they found the lower labor rate in the country. But the recent survey taken place by NASSCOM su

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

ggests that the average pay scale of the employees has increased between 16 and 18%. This is really very serio

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

s matter. Because rise in the pay scale would make MNCs to search for some other overseas destinations. So the

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

Following aspects would a

country should take some steps towards this trend. Outsourcing firms are now falling prey to mounting pay scal

dd to the challenges in developing combination products:

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

costs for specialized skills and talents and the requirement to constantly supporting reward exercises to the

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

market continues.

IT Outsourcing industry

If the pay scale of the employees in IT Outsourcing ind

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

stry would continue to grow in the same manner than within a short period of time country may loose many o

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

its Offshore Outsourcing contracts. This effect may play major role in BPO industry as the rising pay scale r

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

Professional from academic institutions, pharmaceutical industries, health care indust

tio is very high in that sector. India is also that much famous for BPO services also. Most organizations in I

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

T & ITeS have now selected to tolerate the tax load themselves rather than pass it over completely to the staf

.

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

. This step of the companies is to manage the rise in the pay scale of the employees. Over the years IT sector

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

Companies that provide selfless information through particip

has observe almost double digit growth in the pay scale. This area really requires attentions of the authority

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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