Tags |
|
|
Links |
|
|
Main Subject - Westerners And Their Behaviour To Money Is Fuelling The Increase In Cheap Labour Overseas
The use of cheap overseas labour is not new, but in recent times, the importation of cheap labour onto our shores is becoming a fact too hard to bear. Just recently in Australia, a story was shown
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
nation wide of how employers are now paying for companies to supply them with cheap labour from places like Southeast Asia.
The argument put forward by the employers is that they are cheap, reliab
The argument put forward by the employers is that they are cheap, reliab
; 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
e, qualified, and most importantly, they want to work, and this is more than what can be said for Australians, especially the young.
On the other side of the coin, union bosses are crying foul bec
On the other side of the coin, union bosses are crying foul bec
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ause it is impossible for a qualified worker in Australia to compete with a similarly qualified worker from overseas, who is asking around 30 to 40% of the asking rate from Australians.
But not on
But not on
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, throughout this whole story did any body try to expose the reason this explosion of cheap labour, whether it be in our own country or outsourcing, is occurring.
Let’s compare a country like Aus
Let’s compare a country like Aus
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ralia or the US to a country like China, and the average families behaviour to work and money, and also their outlook in life.
In Australia or the US, the average family is saving around 2% of the
In Australia or the US, the average family is saving around 2% of the
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
ir total household income. In China, the average family is saving around 40%. This is a massive difference, and the fact that the average worker in China is willing to work for around 5% of the inc
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
me earned by someone in the US, it makes it even more difficult to swallow.
The Chinese also adopt an attitude of waiting for their spoils. Another words, unless they can pay cash for something, t
The Chinese also adopt an attitude of waiting for their spoils. Another words, unless they can pay cash for something, t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
hey will not attempt to purchase it. On the other hand, we in the western world want everything now and in most instances, not a second thought goes into the cost of these actions down the road.
S
S
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
what are these two distinct differences creating? Well, think about it! Because westerners want everything now, they need to use credit. This overuse of credit is causing massive personal debt, so
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
is it any wonder our average savings rate is only 2%.
The Chinese can save 40% of their income because they are prepared to wait for their luxuries, and they have no personal debt.
So what has th
The Chinese can save 40% of their income because they are prepared to wait for their luxuries, and they have no personal debt.
So what has th
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
is got to do with cheap labour flooding our markets? It has plenty.
If we weren’t so far in debt, we could save more and live on less. If we can live on less, we don’t need to earn as much. If we
If we weren’t so far in debt, we could save more and live on less. If we can live on less, we don’t need to earn as much. If we
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
on’t need to earn as much we can compete with overseas labour. But let me take this a little further, because I can hear a lot of you saying yeah but, just the removal of debt will still not compet
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
e with a market willing to work for 5% of the income over here – Yes it will!
You see, when you have a lot of consumer spending, whether it be on credit or not, it will always cause the price of m
You see, when you have a lot of consumer spending, whether it be on credit or not, it will always cause the price of m
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
terials to go up. The mere fact that a huge majority of consumer spending is done through credit, only serves to magnify this. In our impatience to keep up with the Jones’s or our belief that it is
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
our ‘god given birth right’ to own everything now, we have created a demand that is willing to pay plenty.
This demand or appetite for life’s luxuries, and the credit used to pay for it, is causin
This demand or appetite for life’s luxuries, and the credit used to pay for it, is causin
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
g a huge vacuum, and the only way to fill this vacuum is for wages to keep increasing at alarming rates to support it.
The biggest problem is that throughout our entire lives, we are being told th
The biggest problem is that throughout our entire lives, we are being told th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
t it is good to want everything now, and that it is our right to have everything now, regardless of whether we can afford it or not.
I want to make this clear right now, that I don’t blame people
I want to make this clear right now, that I don’t blame people
.
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
for the mess they are in, or for the huge increase in cheap overseas labour, I only blame the institutions who encourage the behaviour we see so evident in westerners. But what I will say is that b
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
fore you go blaming overseas labour for stealing our jobs, maybe we should learn to take a leaf out of their book when it comes to the way we treat our finances and our appetite for life’s luxuries
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.mainsubjects.org.ua/article/32880/mainsubjects-Westerners-And-Their-Behaviour-To-Money-Is-Fuelling-The-Increase-In-Cheap-Labour-Overseas.html">Westerners And Their Behaviour To Money Is Fuelling The Increase In Cheap Labour Overseas</a>
BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/32880/mainsubjects-Westerners-And-Their-Behaviour-To-Money-Is-Fuelling-The-Increase-In-Cheap-Labour-Overseas.html]Westerners And Their Behaviour To Money Is Fuelling The Increase In Cheap Labour Overseas[/url]
Related Articles:
Cut Down On Business Paperwork With HR Workflow Management Software
Incorporate Your Business For Great Business Benefits
Bookmark it:
|