The Clinical Research Market in India is growing at a very rapid rate according to anyone’s statistics…It is exploding according to all the hype.
For a long time, India has been a hotbed for companies in several major industries looking to outsource and “off-shore” services in an effort to speed development, reduce costs, while hoping to maintain a high level of quality. Today, the process of discovering and testing new drugs is following a similar path and India has a leading role.
There is a tremendous amount of excitement about markets such as India, Central and Eastern Europe and more recently, China. But like any new and exciting trend, we need to buffer that excitement with an understanding of reality. There are tremendous benefits being realized by companies now conducting studies in India, but those companies have also developed an understanding of the cultural intricacies, workforce talent pool, site and study conduct challenges and an improving yet dynamic regulatory environment. Understanding these realities and how to work in them is critical to future success.
India – A Preferred Destination: Why the Industry is Acting on India
As is widely known today, sponsors operating in mature drug development markets including the US and Western Europe are facing difficult challenges in moving their compounds efficiently through the pipeline, whether it be a shortage of beds for Phase I units, delays in contracting and budgeting, or patient recruitment challenges, the costs and timelines associated with bringing new compounds from the bench to bedside is greater than ever before. These issues have forced the industry out of its comfort zone resulting in a rapid globalization process over the last 10 years. Likewise, regions and countries around the world have adapted to and benefited from this globalization.
In very recent years, India has adapted its laws and regulatory guidelines to allow global biopharmaceutical companies access and confidence in conducting clinical trials there. Strong national resources and advantages in medical education and practice, patient populations and the prevalence of 1st and 3rd world diseases have made India not only an open destination, but also an attractive destination. In fact, the well known consulting firm AT Kearney ranked the attractiveness of markets across the world using the US market as the benchmark. India ranks second only to China on that scale and other than population size ranks very closely to or better than China in a number of key categories, including – perhaps most importantly to many companies – the regulatory environment and timelines.
Overall India advantages becoming known:
* Well-credentialed, acclaimed physician base
* Growing market for patent-protected therapies
* Faster, cost-effective studies
* Marketing & Supply Chain infrastructure
* Large treatment-naïve patient population
For additional information on this exciting market, please click one of the links below:
* Clinical Trial and Site Management Services
* Regulatory Guidelines
So you’re fresh out of Business School and you’re thinking about joining that “Big-5” firm that has offered you a ridiculously high-salary, the option to travel to different cities and even countries routinely and fancy vellum business cards with your name is bold print. Could life get any better? Yes and No.
As a professional that has worked in the Consulting Industry, specifically the Management Consulting Industry for over nine years, the life of a professional consultant is a life paved with financial, career and travel rewards not normally available through traditional means of employment.
If you’re a single person, I would be hard pressed to find a better job as your career in consulting will take you to countless cities and even countries across the globe. You will routinely encounter brilliant people in your line of work as well as people of different cultures, religions and ethnicities. Depending on the length of your engagement, you’ll never stay in a single location long enough to grow tired of the surroundings. BUT, if you’re a person in a relationship, I can’t think of a worst profession to call a career. The strains of travel and being apart from your loved one(s) can only lead to discord in your relationship. This is obviously a generalization for I’ve personally known many professionals in happy relationships but it is a risk worth considering.
Are you the adventurous type? Then consulting will provide you with many an opportunity for adventure. Consulting will afford you opportunities to travel to locales you may have never thought you would have traveled to before; London, New York, Paris and Beijing being four locations where travel to is typical. Then again, during the onset of your career you should expect to visit not-so glamorous locations such as Butte, Montana or even Lincoln, Nebraska (no offense). If you like the idea of staying in a single city, single office and just stability in general; consulting may not be the life for you. You are paid that ridiculously high salary because Fortune 500 companies expect you to come to them. Travel is part and parcel to this career, so get used to it.
Do you like repetition? Getting comfortable with the same routine at work so much that you can do it with your eyes closed? If you’re answer is “Yes”, then turn around now, don’t pass “Go” and don’t collect $200.00…this ain’t the job for you! Consulting demands a lot of its practitioners, the main trait being ambition and the desire for bigger and more complex challenges. This career isn’t for the meek nor timid but rather for the over achiever looking for rapid movement up the corporate ladder. If this is you, then you’re chosen your career wisely.
All in all, a career in the Consulting Industry is a fruitful career. Even if you find yourself growing tired of the job after a few years, you’re work history and talent will be sought after by many other companies for Corporate America understands the trials and tribulations associated with the career and values any professional with such experience.
If you’ve read this article and have decided to finally sign that offer letter and next-day air it back to the home office; then welcome to the world of 60-hour work weeks, constantly eating out and a different hotel bed every month…enjoy the ride.
By: Alfred GarciaEdited By: Michael C. Podlesny
Filed Under (Motivational) by admin on 29-08-2009
When your life seems out of control and you’ve got endless demands tugging at you from all directions, it’s easy to feel overwhelmed, fatigued – and just plain stressed! Here are three steps to help you bring balance into your life.
Believe it or not, balancing your life does not require massive changes. You don’t have to quit your job, abandon your family and escape to a remote retreat in order to feel peaceful and happy. In fact, true balance is something that starts WITHIN YOU first and foremost – no matter what else is happening in your outer life circumstances.
Below you’ll find three simple ways to begin building a greater sense of inner peace and harmony:
1) Quiet time.
One of the first things we tend to sacrifice when we’re busy is our personal time. Instead we devote all of our energy and attention to caring for others, multi-tasking, meeting responsibilities and “being productive.” Over time this depletes our energy and we begin to feel more and more burdened by our responsibilities.
To live a more balanced life, quiet time to yourself is CRUCIAL. You may believe that you don’t have any time available for yourself, but something amazing happens when you consistently MAKE time; you find yourself feeling happier and more energetic, your focus improves – and you still get plenty done! Just a few minutes spent sitting quietly in meditation or reading a book can do wonders in transforming stress into peace and happiness.
2) Self-care.
Beyond making time for things you enjoy, there are other ways to nurture and love yourself on a daily basis. Getting a full 8 hours of sleep (or as much as you personally need) is a great start, as well as eating nutritious food, exercising daily and speaking kindly to yourself.
Have you ever noticed that when you’re really tired or stressed, even the smallest problem can seem like a nightmare? On the other hand, when you’re feeling well-rested and centered, you’re much better able to handle upsets. Caring for yourself is one sure way to consistently replenish your energy, inner peace and joy – which means you’ll have the strength to handle whatever comes your way.
3) Flexibility.
Did you know that one of the biggest causes of stress is rigid expectations? We all do it from time to time; get a mental picture of how our lives “should be” – and get really annoyed when our outer circumstances don’t cooperate! One of the biggest gifts you can give yourself is a flexible state of mind. In other words, learn how to detach from unrealistic expectations and go with the flow.
When you have a flexible mind-set, you’re able to deal with crises and problems much more easily because you’re not working against a preconceived notion of how things “should be”. You’re able to tap into your creative problem-solving skills and move through challenges without all the drama and frustration. Be like the tree that bends with the breeze – and you’re much less likely to break!
These inner changes can make a dramatic difference in your state of well-being, but you may also want to examine your outer life circumstances and see if there are other small changes you can make to help support your inner work.
For example, you might choose to let go of certain obligations that are no longer meaningful or enjoyable to you. Just because you agreed to host weekly meetings for a support group three years ago doesn’t mean you have to keep doing it forever – especially if it’s become a drain on your time and energy!
Be willing to let go of activities that no longer complement the lifestyle you desire, and you’ll create a space for greater fulfillment, joy and peace.