Advice You - Business

Paydex® is a dollar weighted numerical system that was developed by Dun and Bradstreet to track the performance of companies to pay

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

their bills. A higher Paydex® score means that a business or company pays its bills almost always on time and is an indicator of h

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

Examples of combination products may in

w well they may be counted on to pay their bills in the future. A lower Paydex® score will usually mean that the business has had s

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

me trouble paying its bills on time at some time during the last year.

Dun and Bradstreet have also developed a Paydex® score key

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

o interpret these scores that they prepare and they range the scores on a scale from unavailable to companies that pre-pay their in

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

Combination pro

oices. Within the range it is also possible to identify companies that are paying their bills a little beyond the normal due date o

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

30 days to those are almost three months behind in unpaid invoices.

Suppliers use the Paydex® system to determine how much produc

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

they should advance to companies and businesses and in some cases even if they should enter into supply arrangements with these co

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

panies at all. Banks and lending institutions use the Paydex® system to determine the credit risk of businesses and it has been kno

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 to be a key factor in approving or turning down applications for business loans or extensions to business lines of credit.

Dun a

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

d Bradstreet collects this information by asking suppliers to record the payment records of the companies they do business with and

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

Following aspects would a

then provide Dun and Bradstreet with a report of payment activity if they are tardy in making payments. They collect this informati

dd to the challenges in developing combination products:

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

n from across the country and around the world and then provide it back to supplier so that they know what level of risk they might

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

be exposed to by doing business with any particular company.

The Paydex® system is also sold to banking and financial institutions

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

and special reports can be generated for most businesses in the country within a matter of minutes. These detailed reports will sho

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

the payment records and any late payments reported by suppliers over the previous 12 months. Dun and Bradstreet also prepares a nu

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

Professional from academic institutions, pharmaceutical industries, health care indust

ber of reports that utilize the Paydex® information to show the payment trends of individual companies, groups of businesses and ev

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

n entire sector reports that show how companies are comparing to others in their sphere of business.

A business can improve their

.

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

aydex® score by improving their payment performance. This can increase the possibility of obtaining credit at good interest rates f

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

Companies that provide selfless information through particip

om the banks but is also a way to tell your fellow businesses that you are a good credit risk as a buyer of their goods or services

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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Advice You - What are Paydex and Business Credit Scores?

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