Advice You - Internet and Businesses Online

Every ecommerce merchant account uses a virtual terminal and a secure processing gateway that permits

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

the credit card owner to enter his card information for use by the bank. Ecommerce merchant accounts r

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

Examples of combination products may in

educe paper works, phone calls, mailing expenses labor charge and slowness of auditing. All the transa

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

ctions are automatically done on your bank account.

You can either establish your own ecommerce merch

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

ant account or can avail the service of a third party who processes payments for you. Generally, third

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

Combination pro

party accounts are useful for new merchants, and self owned accounts are useful for well established

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

merchants. There are lots of banks and private merchant account providers (Map?s) offering ecommerce m

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

rchant accounts. You can also apply online. The minimum requirement is that you should have a well mai

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

ntained website and a bank account.

Ecommerce merchant accounts vary widely. Some account providers c

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

harge a monthly fee, some charge weekly fee, and others charge a one time fee. You have to select an a

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

ccount according to the revenues generated and the current status of your business. Always look for a

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

Following aspects would a

provider with high approval rate (more than 90%). When applying, make sure that the account can proces

dd to the challenges in developing combination products:

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

s all popular credit card payments such as Visa, MasterCard, American Express and Discover. If you are

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

going for market products or services globally, it is important to apply for a multicurrency ecommerc

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

merchant account. Always deal with a provider who offers ample protection against frauds.

Setting up

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

an ecommerce account is very easy. The set up fee for a third party account costs around $50 and your

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

Professional from academic institutions, pharmaceutical industries, health care indust

own account can cost around $600. However, setting up of ecommerce merchant accounts through banks is

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

not so easy, as there will be some credit checks. Usually, banks do not provide accounts for new merc

.

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

hants. The transaction rate can be either around 2-3% of the transacted amount or $.30 per transaction

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

Companies that provide selfless information through particip

. The discount rates are usually $10 to $15 a month, and the rolling reserve can be around $20 a month

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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