Actual - Finance

Are you making only the minimum payment due on your cards each month, and watching the

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

amount you owe rise with each billing cycle? Do you use your credit cards to purchas

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

Examples of combination products may in

everyday household items, like groceries, that you used to buy with cash? If you ans

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

ered yes to either question, you’re probably dealing with mounting credit card debt.

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

redit cards are extremely easy to use, but need a great deal of discipline to avoid ge

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

Combination pro

ting into unmanageable debt. A credit card debt is an unsecured loan, because the cre

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 card company does not hold or ‘secure’ any of your assets to cover the amount you o

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

e the company if you are unable to pay your credit card bill. When you default on a c

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

edit card payment by stopping making payments altogether, the credit card company will

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

try and recoup its losses by contacting you, typically through a collection agency.

T

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

e key to credit card debt consolidation is to avoid getting to the stage where you’re

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

Following aspects would a

receiving notices and calls from a collection agency. You can do this by taking contr

dd to the challenges in developing combination products:

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

l of the situation and cutting unnecessary expenses so you have more money to put towa

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

ds your monthly credit card payments. If the amount is too large, you could consider

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

ontacting the credit card company and negotiating a reduced interest rate, and a reduc

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

d or waived late fee, to help you pay the debt off. Another option may be to go throu

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

Professional from academic institutions, pharmaceutical industries, health care indust

h a debt consolidation company, which will negotiate on your behalf and take over all

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

ommunications with the credit card company and collection agency. Remember that even

.

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

f the credit card company agrees to an interest rate reduction and late fee waiver, in

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

Companies that provide selfless information through particip

ormation on the payments you didn’t make will still be reflected in your credit report

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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