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Beating debt is as much to do with what's going on in your head as it is to do with what's going on in your wallet. If you have a debt problem you can solve

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

it if you admit this. Here are five steps you can take to begin beating your debt:

1. Take control

There comes a point where you have to admit th

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

Examples of combination products may in

at your debt is defeating you. You can't keep up with repayments; the interest charges are mounting up and, maybe even worse, you're using one loan to pay o

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

f another.

You have to take control of your finances: if you don't your creditors will. If you are in denial about this you need to face the truth. If 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

can face the truth and take control, you're on the first step to beating debt.

2. Live within your means

Take a look at your credit card and charg

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

Combination pro

-card statements. What did you spend that money on?

Go round your house and take a good hard look at the goods that you bought with those credit cards. Are

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

they worth it? Did you want them that much? What difference have they truly made to your life?

What do you feel like when you look that stuff and say to y

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

urself, 'I haven't paid for that (xxx) yet'?

3. Reduce your stress

Debt can become a nightmare and stress can send you into a spiral of despair. I

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

t doesn't have to be like that. There's a way out but it's not an easy way out. You have to take control of yourself and your spending, and resolve to get y

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

ur life back. When (and only when) you've got that mental resolve, then consider consolidating your debt.

4. Eliminate your debt

Consolidating you

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

r debt is a one-chance option of repaying your debt. The debt doesn't disappear, but all the various loans and debts get lumped together into one bigger loa

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

Following aspects would a

n to be paid off over a longer period and at a lower interest rate. This frees up some of your income and will instantly reduce your stress.

And, crucially

dd to the challenges in developing combination products:

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

you shouldn't continue to rack up credit card debts. You will only eliminate your debt if you live within your means.

Try an experiment. Leave your credit

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

cards at home for a week and live on cash. Pay for everything with money - yes, everything. This will help you get a handle on your need to budget. When yo

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

see the money slipping through your fingers it will bring home the reality that your supply of money is limited.

At the end of the week, ask yourself how

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

you feel. If it was difficult but you succeeded in prioritizing your spending, congratulations - you're in control! If it was hard, or impossible, then try

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

Professional from academic institutions, pharmaceutical industries, health care indust

gain. You need to be tough with yourself to be in control of your money.

5. Getting your life back

Happiness is not being able to buy useless luxu

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

ries: it's about being free. Cut up all but one of your credit cards, and pay back that credit card every month, without fail. You'll enjoy the things that

.

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

oney can buy only if you spend money that you have - not money that you borrow. Resist the temptation to indulge yourself with money that you don't own.

Mo

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

Companies that provide selfless information through particip

ney has the power to enslave you as well as making you free. When your debt is out of control, you're enslaved. You can become free only if you take control

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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