Answers - Real Estate

Real estate can be a great career, but it is not as easy as it looks to become successful. In my last article I talked about the reasons why you should become a real estate agent. Before I g

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

et into the reasons of why you shouldn’t become a realtor I want to go over the reasons why you should. First and foremost, the harder you work the more money you are going to make. Not only

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

Examples of combination products may in

can you make a lot of money but there is no limit to how much money you can make. Another reason why you should become a real estate agent is that you can create your own schedule. With a fl

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

xible schedule you are able to sleep in when you need to, and go home to watch a basketball game during March Madness. I will get to the reasons why a flexible schedule is not always good a l

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

ittle later. One final reason that you should become a real estate agent is because you can have a major impact on a lot of people.

If you like meeting the needs of your peers then this may

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

Combination pro

e the right profession for you. However, before you decide to jump right in, let me explain to you the reasons why you should think twice about becoming a realtor.

The main reason why you sh

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

uld stay away from real estate is because it is usually based solely on commission. That means that if you don’t sell anything, you don’t make anything. I was na?ve when getting into the rea

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

l estate profession about how expensive it was. I did not realize there were realtor fees every year, nor was I aware of how expensive it was to get a license. You also need to consider the

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

mount of money you will spend in technology. For example you are going to want a good computer that you can bring with you at all times. Also, your cell phone bill is going to be higher than

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

you wanted because people will be contacting you at all times. Really the most expensive part of real estate is the advertising. There are many different methods for advertising but they all

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

seem to be expensive. Just letting all your friends and family know that you are in the business is expensive. If you are looking for a steady pay check, this is not the profession to get in

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

Following aspects would a

to.

There are always going to be great times and at times it will be terrible. However, the longer you work in real estate the more likely you will see a consistency in pay checks. The seco

dd to the challenges in developing combination products:

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

d reason you should stay out of real estate is because of the amount of time you need to work to become successful. Not only will you be working a lot, but you will also work Saturdays and ev

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

n Sundays to do open houses. You need to let your family know that you are not always going to be able to have dinner with them, because often times you are asked to show homes in the evening

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

s once your clients have finished their work day. Now you do have the ability to say no on a showing or two, but it is hard to pass up when you know how much money can be on the line.

The th

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

rd reason is that it can be very uncomfortable. Real estate requires a lot of prospecting which means you will need to leave your comfort zone. How willing are you going to be to knock on th

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

Professional from academic institutions, pharmaceutical industries, health care indust

next door, when the last person you met laughed at you? I have been laughed at more than once while going door to door and it can be very humbling. Are you willing to call For Sale By Owner

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

s? Do you have the drive to stand in front of a crowd to deliver a presentation about your company? I am not the most outgoing person, but to be successful in this challenging business you n

.

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

ed to get your self out there, and understand that they are often saying no to what you are selling and not to you personally.

I believe that real estate can be a fun and exciting career. I

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

Companies that provide selfless information through particip

an not imagine going back to an 8:00am-5:00am job because I have too much fun in this profession. However, before you jump into real estate please consider what you are getting your self into

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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