Actual - Finance

Many people in the media have been commenting over the last year that it’s far too easy for people to get credit and that the responsibility lies with the lenders for lending the money irresponsibly. There may be some valid tr

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

uth to that, because of the low interest rates of late, many people have been taking on debts that perhaps they shouldn’t. The repayments have looked low because of the relatively cheap cost of borrowing at the moment.

So you

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

Examples of combination products may in

’ve now got your high definition wide screen TV, you’ve had your exotic holiday; you’ve bought that new console for the kids. You’ve borrowed money because it was cheap to do so, and we live in a world where everyone is saying

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

it’s ok, that money does indeed grow on trees and that it’s ok to spend on a credit card to your limit, it’s ok to get another loan.

There was a song by Shania Twain called Ka-ching and whether you like the country tones of

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

Eilleen Edwards (Shania’s real name) or not, the point of the song is valid.

“We live in a greedy little world--
That teaches every little boy and girl
To earn as much as they can possibly--
Then turn around

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

Combination pro

and
Spend it foolishly
We’ve created us a credit card mess
We spend the money we don’t possess
Our religion is to go and blow it all
So its shoppin’ every Sunday at the mall.”

Ka-ching – Shania Twain<

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

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The whole song is a almost a hymn to our current religion of consumerism. It’s a way of life now and we’ve got the responsible half of the media telling us to only borrow money wisely, but we’ve got the other half of the

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

media telling us that borrowing money is fine. Which philosophy you ascribe to is up to you however you have to however if you ascribe to the buy now, spend now, don’t worry about it, chances are there will be a crunch time.

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

When you’ve borrowed more than you can afford to borrow, and the repayments are higher than you can realistically afford to repay. What do you do then? You can get upset, you could even rant on about how the banks shouldn’t ha

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

ve lent you the money. You could stop opening the threatening letters and bury your head in the sand but none of those things will change the situation.

You could consolidate your debts into one big monthly loan like one of t

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

ose adverts on TV says to and you’ll be enjoying picnics in the park with your family like those people on TV do in no time. Sort out your debt worries by potentially taking on more debt. There does seem to be something wrong

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

Following aspects would a

with that logic but I can’t deny that it works well for some people. Or you could take some personal responsibility, say to yourself that no one forced you to take out the loans and that it was you that spent the money freely

dd to the challenges in developing combination products:

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

but that you want to sort it out and admit that there’s a problem. That is usually the hardest step.

Once you’ve reached that moment, that single moment of clarity, things can actually get a little easier as you’re able to pr

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

operly look at your situation and seek help. One potential solution if you’ve got a higher level of debt could be an IVA. There’s a lot of information about IVA on the internet and I have to confess that not all of it is accur

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

ate. In fact, I would go as far as to say that there is a lot of misinformation.

For example; you’ll see adverts telling you that taking an IVA will write off 75% of your debt. I’ve even seen a couple that claim 80%. The 75%

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

igure is highly unlikely, the 80% figure is nothing short of a lie. IVA is a binding legal agreement between you and your creditors and last for 5 years. At the end of those 5 years, you will be free of unsecured debts, howeve

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

Professional from academic institutions, pharmaceutical industries, health care indust

r, during that time, you will be making repayments, however they will not be unreasonable. If you literally can’t afford anything, then potentially you could wipe out 75% of your debts, however it is very unlikely that you can

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

’t afford to pay back anything and the 80% figure bandied about is impossible under the current legislation.

In some cases, the term of the IVA may require you to sell your home to release any equity you have in it to increas

.

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

e the offer to your creditors. This however doesn’t always happen. The terms of an IVA are completely individual and it should only be considered if you have over ?10,000 worth of debt.

For more information on IVA then visit

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

Companies that provide selfless information through particip

us at consolidateuk.com where we’re very honest about it, the pros and cons. We don’t make impossible promises but we can give you the information you need to make an informed decision on how you can sort out your debt problem

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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