Advice You - Business

International Scams and the new Methodology

So you've heard about the Nigeria 419 scam, and about the Russian and Philippine brides-to-be scamming Ame

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

rican and European men out of thousands. You're street smart, and you're not going to fall for some foolish game. You won't be sending money off to Africa. Yo

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

Examples of combination products may in

u wonder, how can anyone be so foolish, to send thousands of dollars off to Ghana, Nigeria, Russia, the Philippines, Colombia or South Africa, to someone they

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

've never even met? All you need is a little common sense, you say. But, is it really that simple to prevent? Does it really take a fool?

There are approxima

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

tely 2 billion Internet users worldwide. Many have just recently discovered the world wide web. Many are senior citizens, many are honest, hard working and tr

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

Combination pro

usting folks who expect the same of others. The truth is, advance fee fraud has come along way since the early days of emails claiming the individual has won

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

big, or has been selected to participate in an amazing business opportunity, with the only catch being the advance fee to release the winnings, the cash, etc.

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

Sure, the public is more educated now about scams. So, why then is the number of victims rising rapidly in almost every country in the world?

Wymoo Internati

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

onal recently reported on the methodology and fraud schemes employed, and how so many intelligent people worldwide become victims. According to David Wilkerso

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

n, Vice President, "criminals have evolved advance fee fraud into endless variations and use sophisticated techniques to conceal their identity. They seek out

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

their victims on dating websites such as Match.com and countless others, where they proceed to establish long and seemingly meaningful relationships via the

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

Following aspects would a

Internet. They make phone calls to the victim; they send flowers; they send email and instant messages. In other words, they invest significant time in their

dd to the challenges in developing combination products:

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

scam and victim. They may claim to be a doctor or relief worker in Africa. They may claim to be in love and making arrangements to leave the country. Or, they

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

may have been in a terrible accident and need financial support, etc." In response to whether or not it takes a fool, Wilkerson replied that "victims are fro

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

all walks of life, doctors, lawyers, corporate executives, pilots to single mothers. Bottom line is that the criminals are professionals and very convincing.

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

" A scammer may work a plot for up to 6 months or even 1 year before requesting money. And a professional scammer in Africa or E. Europe can earn up to $200,0

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

Professional from academic institutions, pharmaceutical industries, health care indust

00 USD annually.

What does all this mean? Approach relationships via the Internet with a skeptical eye. Beware of requests for money from persons in another

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

country if you have never met that person. Lastly, even if you think you truly know the person, and you have every reason to trust him or her, get the profess

.

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

ional background check. The hardest thing about being in this business, says Wilkerson, is too many clients g

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

Companies that provide selfless information through particip

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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Is there a difference? Business is relationships, Relationships is business. Apply strategies of one to fulfill on the other. Study one to master the other. They are synonyms with different practices.

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