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Over the years we’ve learned that it’s not unusual for Americans to change jobs and even careers sev

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

eral times in the course of a working lifetime.

It’s one of the dramatic changes that’s occurred in

; 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 21st Century job marketplace. And you need to be prepared for it.

One way, of course, is to ha

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

ve a “failsafe career” that guarantees you’re ready in advance for any job or career change that may

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

come your way . . . whether voluntary or involuntary.

Another aspect of job change you should be aw

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

Combination pro

re of is to protect your assets when you make your move. Be sure you take your TAX-SHELTERED 401(k)

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

ASSETS with you.

* DO NOT make the fatal mistake of cashing out your account when you switch jobs.

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

* DO NOT have your organization write you a check that you can immediately turn into cash.

Conside

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

the income taxes and fees you’ll pay on the withdrawal. For example, buying a car for $20,000 woul

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

d require you to remove up to $30,000 from your account. That’s $30,000 that won’t be accruing inte

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

est toward your retirement.

One report states that 50% of job-changers, ages 20 to 29, cashed out i

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

Following aspects would a

stead of rolling over their money to a new account. Workers were more likely to cash out even if th

dd to the challenges in developing combination products:

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

e had $500 or less in their 401(k).

Bad idea . . . you’re losing money.

Take the opportunity to ro

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

l your money into an account with your new employer. Don’t leave it with your old employer. Also,

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

onsider rolling your 401(k) into an IRA. These accounts have more investment options than an employ

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

er’s 401(k) program.

Whatever your decision regarding your 401(k) options, remember you have other

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

Professional from academic institutions, pharmaceutical industries, health care indust

ssets to consider. These are your personal job and career assets you carry with you at all times.

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

hey are as valuable as your financial assets. In fact, they’re what make your financial assets poss

.

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

ible.

Check out our website to discover how to make your personal career assets work for you. Deve

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

Companies that provide selfless information through particip

op them properly and they’ll guarantee your financial assets and your success in the job marketplace

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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