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Main Subject - Getting Your Kid Off The Payroll
Do you have a recent college graduate who is unemployed, or if they are employed, dislikes and maybe even hates their first job? Well, don't feel bad, because by all estimates, at least half of all recent graduates are either unemployed or underem
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
ployed (working a job that doesn't use either their education or their ambition). It's difficult deciding who should feel worse, our kids or us.
The children of baby boomers (our kids) are going to college in record numbers. There are more appli
The children of baby boomers (our kids) are going to college in record numbers. There are more appli
; 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
cants to American universities today than at any time in our country's history. There are also record numbers of foreign students flocking to American universities taking up a limited number of seats. Our college track and soccer teams have very
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
talented South Americans, our swim teams include world class Australians and the University of Colorado's entire ski team is European. As a result of this growing imbalance of supply and demand, the price for each college seat continues to rise.
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
hen you and I went to college, the monthly cost was equal to a car payment. Today it is a mortgage! I have three kids all heading to private universities. The average cost of one year of private college is approaching $40,000. State schools are
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
quickly approaching $20,000. Today, it's not just a diploma, it's about the "campus experience" with multi-million dollar student centers, laptop computers, cell phones, cars on campus, semesters studying abroad, and semester breaks in the Bahamas.
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
In my next life, I want to come back as one of my kids!
As our children near graduation (in four or more years), we hope that they get what we paid for – a good job with a good future, because we want our kids to be happy and successful. But, wh
As our children near graduation (in four or more years), we hope that they get what we paid for – a good job with a good future, because we want our kids to be happy and successful. But, wh
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
at do you get from a college for that $80K – $160K education. Well, you get the right to put "_______ university" on the rear window of your car and the privilege to brag about your child at parties. You get a child who learned a lot about social
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ife, living on their own (financed by you), and a child who hopefully graduates with a degree in their chosen major in four years.
Now what don't you get for your college tuition? You don't get a child with a job, and you don't get any long-term
Now what don't you get for your college tuition? You don't get a child with a job, and you don't get any long-term
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
career strategy or guidance. You have to do that yourself. That's because they don't teach Career Management in college. They don't teach you about life, how to decide what job is best for you and how to get the job that is best for you. They do
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
n't teach you how to perform in your job, how to deal with peers or a difficult boss, or how to ask for a new job assignment. They especially don't teach you how to lead or how to handle the adjustment to the culture of a new organization. They ju
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
st don't do any of this stuff. Why? Because they don't have to. It is a seller's market and they are the seller.
As the cost of college goes even higher, you will hear about creative job help programs being supported by universities. Ho
As the cost of college goes even higher, you will hear about creative job help programs being supported by universities. Ho
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
ever, colleges have only so much money for career programs, and it will never be enough to adequately support every student. Let's face it, after graduation, you are on your own. So, you and your child have to take control of the situation.
If y
If y
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
ou are one of the millions, yes millions, of baby boomers who has an underemployed and unhappy college graduate, you need not be ashamed. But, you do need to take action. Not the kind of action you may have taken when your child was 12 yea
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
rs old, and you did it for them. You need to help them help themselves. If you want to get your kid off the payroll and on the way to personal satisfaction and happiness, you must do the following 3 things:
1. Let them know you understand the
1. Let them know you understand the
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
ir challenge. Hey, despite being a little bit spoiled, your child is undergoing one of the most significant transitions of their life. Without judging them, start having discussions (listening much more than speaking) about the difficulty of l
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
aving the college life and the support community and 4 year predictable life they left behind.
2. Help them help themselves. They must find their own goals and motivation. Encourage them to articulate and gradually commit to short and long
2. Help them help themselves. They must find their own goals and motivation. Encourage them to articulate and gradually commit to short and long
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
term goals that really motivate them. Encourage them to visualize what they want their future to look like. Then ask them to decide how committed they are to achieving their goals.
3. Help them develop a plan of action toward achieving their
3. Help them develop a plan of action toward achieving their
.
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
own independence. Help them develop a plan of action aimed at achieving professional satisfaction and personal independence. There is a host of responsibilities they must accept, but building and gradually executing an action plan is the only
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
way to start.
These 3 steps are meant to be executed over time, but with conviction by both parent and child. You don’t want them being dependent on you forever, and believe me they don’t want to be, either. So work together but start work today
These 3 steps are meant to be executed over time, but with conviction by both parent and child. You don’t want them being dependent on you forever, and believe me they don’t want to be, either. So work together but start work today
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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