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Actual - Get Out of Debt By Turning It On Its Head - Part One
There is an ever increasing reliance on the use of credit to fund the lifestyle demands of the 21st Century consumer. With that demand however is coming an additional problem. Over indebtedness. Credit appeals to so
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
many. Take it away now and pay for it later. Psychologically that use of later almost conjures up images of something for free that you never pay for. In truth what it means for so many is that you never actually fin
; 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
sh paying for it.
The problem appears to be spiralling out of control with people looking to secure more debt to pay off the demands of the existing debt. This causes a downward spiral of ever increasing misery as the
The problem appears to be spiralling out of control with people looking to secure more debt to pay off the demands of the existing debt. This causes a downward spiral of ever increasing misery as the
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
debt gets to a totally unmanageable point. People in debt begin to become more desperate seeking an alternative way out of that debt.
If this is you, read on because it may be what you’re doing is simply adding to you
If this is you, read on because it may be what you’re doing is simply adding to you
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
problem. In addition, I may have something that could help you out of that misery.
Old Thinking – The Problem
Visit any newsgroup or forum were debt is mentioned and it’s littered with stories of misery, desperati
Old Thinking – The Problem
Visit any newsgroup or forum were debt is mentioned and it’s littered with stories of misery, desperati
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
n and the inevitable what do I do. The most popular answer is to cut back and in many respects this is true. It is however a massive change for people and families that have historically try to spend their way out the
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
misery their situation has brought them.
Although it is true it is only part of the answer. Looking at your financial picture is a great start and people should look at ways to cut back, but getting out of debt requi
Although it is true it is only part of the answer. Looking at your financial picture is a great start and people should look at ways to cut back, but getting out of debt requi
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
es something else, which is so often overlooked. That something else is changing the way you look at debt.
Think about it? Regardless of the “reasons” people give for debt, 95% of people are in debt because they wante
Think about it? Regardless of the “reasons” people give for debt, 95% of people are in debt because they wante
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
more things than they could afford to pay for from their existing funds. They needed more money, typically loaned to them by the bank. How odd therefore is to expect those same people to all of a sudden live their li
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
e on less money than they receive each month and to do that for years while they pay off the debt.
Very simply, this can’t be achieved. Why? Because the interest payments stretch people way beyond their original prob
Very simply, this can’t be achieved. Why? Because the interest payments stretch people way beyond their original prob
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
em and in addition it leaves them with no capacity to find money for sudden emergencies. Lack of financial resources is what gets people into debt, so saying how can I get out of debt on my existing finances is a waste
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
of time, when it’s those existing finances that got you into debt in the first place.
Also, this is not the way rich people look at money and have it working for them. They take a different approach. Clearly their a
Also, this is not the way rich people look at money and have it working for them. They take a different approach. Clearly their a
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
proach works, because they’re rich. So how do they do it.
Change Your Mindset – Solve the Problem
What’s the answer? Turn the debt on its head. How? Play with the numbers. Look at what it will take to get rid of
Change Your Mindset – Solve the Problem
What’s the answer? Turn the debt on its head. How? Play with the numbers. Look at what it will take to get rid of
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
he debt. Take your debt and look at the total size of it. Once you’ve got that number you’re in a much stronger position. You’ve got the first part of your goal and with that the first step of your way out of debt ta
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
en.
What you now have to do is set a plan to get that much more money in. You have to attack that debt with more money than you currently have. You turn the debt on its head, not by thinking “oh no I can’t afford it,
What you now have to do is set a plan to get that much more money in. You have to attack that debt with more money than you currently have. You turn the debt on its head, not by thinking “oh no I can’t afford it,
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
I’ll always be in debt” but by thinking
“How can I make this money” your mindset has immediately changed. You’re looking at the problem much more aggressively rather than passively accepting a seemingly endless proble
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
m.
What’s being suggested here is not rocket science. This new way of thinking is something that so many will already be doing. Here’s an example. You decide you need a car. The price of the car is on the sticker.
What’s being suggested here is not rocket science. This new way of thinking is something that so many will already be doing. Here’s an example. You decide you need a car. The price of the car is on the sticker.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
After a bit of bartering you reach a final price. You know how much money you need. You work out a way to get that money. You probably get it on credit but you get the money together and not from the money you curren
.
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
ly have. Now, simply change the car for the total debt you calculated earlier and take the same plan.
It’s a very simple example but I wanted to show you that you have the ability to think about this is the right way.
It’s a very simple example but I wanted to show you that you have the ability to think about this is the right way.
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
This is the way rich people look at getting money working for them, not against them
In Part Two I’ll show you actions that could not only get you out of debt, but put you on a totally different financial path in life
In Part Two I’ll show you actions that could not only get you out of debt, but put you on a totally different financial path in life
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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