Main Subject - Business

Outsourcing. It's a big economic boom for some and a big nightmare for others. Outsourcing has been a hot topic of debate among politicians for a long time. Turn on your TV and you'll see

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

many a show, especially "The West Wing" tackle the issue of outsourcing.

So what exactly IS outsourcing?

Simply put, outsourcing is the practice of subcontracting various jobs to outside of

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

Examples of combination products may in

the country that you live in.

The first question most people would ask is, "What are the advantages of sending jobs overseas?"

Well, the answer to that question isn't a simple one because i

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

depends on who you're talking about. See, outsourcing is good for some people and bad for others. So just who gains and who loses out?

Let's start with the people who make out. The compa

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

ies themselves are at the top of the list. Okay, why? Well, the best way to explain this is with an explanation of how business works in the United States as opposed to a country like India

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

Combination pro

In the United States companies pay relatively high taxes and wages. The minimum wage in the United States is one of the highest if not THE highest in the whole world. The taxes companies

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

have to pay are also very high. So to manufacture a product, say computers in the United States, would cost a considerable amount of money.

Now, take that same company, set up an office ove

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

seas in India where taxes are lower and the wages are lower and have them make the same product and what happens is the product can be manufactured for less and ultimately sold for less. Thi

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

allows the company to be more competitive in the market place, pay lower wages while doing it and making more money in the long run. The end result is the companies that manufacture items o

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

erseas to sell in the United States make more profit.

From the above example it is clear to see that the companies stand to make out very well with outsourcing. Other people who make out we

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

l are the consumers. They get to purchase these products for less money. Certainly that has to be a good thing as well, which it is. Plus, you're giving jobs to people outside of the Unite

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

Following aspects would a

d States who probably wouldn't be working otherwise. So obviously that is good too.

So who ends up getting the short end of this deal?

That would be the American workers who lose their job

dd to the challenges in developing combination products:

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

because they have been outsourced overseas. Most people can't just pick themselves up and move to India. And even if they could the wage they would have to live on would be nothing compare

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

to what they were used to. So ultimately what happens is these people lose their jobs and with outsourcing we're sometimes talking about a hundred thousand people suddenly out of work.

The

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

question becomes, what do these people do? For most, there aren't enough jobs available in their field to get a new job. Some do. But what about the rest? Many are too old to be retrained.

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

It's hard to be a 55 year old steel worker and try to get trained in computers and actually get a good job. It isn't that easy.

So the people who suffer are the ones who lose their jobs, an

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

Professional from academic institutions, pharmaceutical industries, health care indust

d this number is substantial with the amount of outsourcing that goes on.

But it doesn't end there.

See, when these people lose their jobs that means they don't have as much money to spend,

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

usually having to accept a job for less money. So by spending less that affects the companies around them because THEY are now not making as many sales, especially small business owners like

.

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

restaurant owners who now serve fewer people. So now they make less money, have to lay off people, and so now there are even fewer people spending money. And the cycle goes on and on until

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

Companies that provide selfless information through particip

ventually we run into a recession.

Some people would say that outsourcing is great. Some people would point to the downside and say that it's bad.

I guess it depends on what side you're on

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/33028/mainsubjects-Outsourcing--What-Is-It-And-Is-It-Good.html">Outsourcing - What Is It And Is It Good?</a>

BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/33028/mainsubjects-Outsourcing--What-Is-It-And-Is-It-Good.html]Outsourcing - What Is It And Is It Good?[/url]

Mike Filsaime isn't just another Internet marketing prodigy, he believes in sharing what he has learned and allowing other people to benefit from it as well.

To buy..or not to buy..that is the question..Making the decision to purchase a franchise needs to be given serious thought, research and consideration of all options available...

Comfort zones are insidious. They keep us doing the same old things, the way we’ve always done them. Time to break free and set some challenging goals.

Tags

Links

Main Subject - Outsourcing - What Is It And Is It Good?

Related Articles: