Main Subject - Business

Salary negotiations are a lot like the game show Deal or No Deal, except of course for the 26 models and Howi

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

e Mandel. When you're presented with an offer, you have two choices: You can either accept it, or reject it and gamble

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

Examples of combination products may in

for a better payout.

Negotiations of any kind require a certain degree of skill to be successful. And since salary ne

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

otiations are probably not something you do very often, you are at a disadvantage right off the bat. To make matters w

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

orse, the hiring manager is usually quite experienced in this area. She has probably taken courses with titles like

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

Combination pro

>How to Make Potential Employees Weep During Salary Negotiations (Parts I and II) and Benefits? Don't Make Me

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

Laugh!

The only way you stand a chance in a salary negotiation is to be prepared. It is a commo

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

n misconception that companies want to pay the lowest wages possible. This is simply not the case. While it is true th

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

t employers want to reduce labor costs, many of them understand that it is actually more expensive to hire someone at

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

bargain basement salary, spend months training him, and then have to go through the same process all over again six m

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

nths later when this employee resigns because he found a better paying job.

Employers realize that it is much more co

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

Following aspects would a

st effective in the long run to pay a fair salary and keep workers happy. In fact, human resources departments conduct

dd to the challenges in developing combination products:

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

salary studies to be sure they are offering competitive wages.

How will you know if the offer is fair? By doi

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

g research ahead of time. Friends or contacts in the field are great sources for salary information. And ther

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

e are websites that publish salary ranges for a wide variety of positions based upon industry, level of experience, an

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

geographic location. Some sites are free; others charge a fee.

Once you ascertain the salary range for your target p

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

Professional from academic institutions, pharmaceutical industries, health care indust

sition, you will be prepared to enter into a meaningful salary discussion. While employers may not want to start you a

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

t the very top of the range, you certainly don't want to start at the very bottom. In an open and honest dialogue, the

.

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

e is usually a happy medium that will satisfy both sides. So next time you are faced with a salary negotiation, do you

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

Companies that provide selfless information through particip

research and you can turn Deal or No Deal into The Price is Right.

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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Main Subject - Salary Negotiations - What You Need to Know

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