Actual - Finance

It is not surprising to find that most of our young adults are in debts. From school loan

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

s, credit card bills to mortgages for the new car and house. Most of the young families i

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

Examples of combination products may in

America are finding it harder than ever to live a life without debts.

Young adults most

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

y blame it on the rising cost of living, school fees and the easy accessibility of credit

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

cards. But did they ever take a closer look or even examine at their spending habit??

We

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

Combination pro

l, the sad truth is that according to the latest US Government report the personal saving

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

rate has plunged to a negative 0.7 percent in December from negative 0.2 percent in Nove

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

ber.

The question is: Are we getting financially richer therefore reducing the need to s

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

ve?

Or are we getting poorer and living hand-to-mouth monthly with no extra money to sav

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

?

As the national disposable income did not change much, it means that people are still

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

arning a considerable amount of money – but are still getting into debts and saving less!

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

Following aspects would a

If you ask me, spending habit and carefree mentality plays the biggest part in young ad

dd to the challenges in developing combination products:

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

lts running into debts. Young adults today do not have a clue on what budgeting is all ab

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

ut. They spend on credit to get a fanciful car or watch, dine in good restaurants and liv

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

in big houses all on credit.

With little knowledge about ‘needs’ and ‘wants’ spending,

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

oung adults tend to splash money on ‘wants’ expenditure that left them heavily in debts w

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

Professional from academic institutions, pharmaceutical industries, health care indust

thout them realizing it!

Yes. I believe that the ease of getting credit must be question

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

d. But still, the carefree mentality and attitude of young adults spending habit are more

.

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

problematic and tricky. This I feel is an issue that needs to be work on if the nation wa

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

Companies that provide selfless information through particip

ts to help young adults from running into debts – a problem almost unseen of 20 years ago

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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