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Actual - Is Debt Consolidation A Good Idea?
Is debt consolidation really necessary? Perhaps. It certainly can seem like the easy way out of the problem of too many payments every month. Wh
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
en credit card and loan payments add up to $900 every month, why not pay all of these debts off and have a nice easy payment of say, $300? There
; 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
are two reasons why it may be a bad idea.
Debt Consolidation Ignores Causes
Why do you have too much debt? Entirely unforeseeable circu
Debt Consolidation Ignores Causes
Why do you have too much debt? Entirely unforeseeable circu
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
mstances? That's rarely the whole cause. More often, when you have debt problems, it is because you buy too many things on credit. In other word
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
, if you are looking for a consolidation loan it is probably due to bad financial habits.
What happens when you combine all those debts? You do
What happens when you combine all those debts? You do
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
't owe less. You may get a lower interest rate on average, but you still owe all the money, right? The consolidated debt is just easier to pay.
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
It will be paid with one lower monthly payment stretched out over a longer period. That's easier, but what else becomes easier now? Having more
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
ebt.
Isn't this exactly what many people do? They get $900 in various payments rolled into a loan with an easier $300 payment, and now they hav
Isn't this exactly what many people do? They get $900 in various payments rolled into a loan with an easier $300 payment, and now they hav
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
excess income again. Time to buy some things on credit. Debt consolidation can be a way to postpone reckoning with the real problem - bad finan
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
cial habits. Unfortunately, when you put off dealing with the real causes of debt, the problem becomes much worse.
Debt Consolidation Is Exp
Debt Consolidation Is Exp
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
nsive
Because of the lower interest rate, it seems like you are saving money with some consolidation loans. This isn't always true. Most of
Because of the lower interest rate, it seems like you are saving money with some consolidation loans. This isn't always true. Most of
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
en you are converting short-term debt into long term or longer-term debt. The problem here is that the more time you take to pay off the money y
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
ou owe, the more you pay in interest.
Suppose you owed $6,000 on a credit card, with 18% annual interest. It would require a payment of $176.26
Suppose you owed $6,000 on a credit card, with 18% annual interest. It would require a payment of $176.26
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
per month to pay it off in four years, and you would pay a total of $2460 in interest. Now suppose you rolled the debt into your 30-year mortgag
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
on your home (many people do this), with only a 7% interest rate. This would add $39.92 to the payment. That's easier than $176, and a much low
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
er interest rate, so how much total interest will you pay over the years? $8371 - more than the original debt!
Naturally there are debt consoli
Naturally there are debt consoli
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
ation loans shorter than 30 years, but you get the point. Even with a 15-year, 7% loan, which would costs $53.93 per month, you would pay at lea
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
t 50% more in interest than with the 18% 4-year payoff. Converting your short-term debt into long term debt can cost you a lot more in interest.
.
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
The lesson? Try hard to make those payments and get rid of that debt sooner. You'll be glad you did. What if it is impossible to make those pa
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
ments? This happens, but for a reason, so why not work at least as hard on changing your habits as you do on getting the best consolidation loan
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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