Advice You - Finance

“Truckin got my chips cashed in. Keep truckin, like the do-dah man.

Together, more or less in line, just keep truckin on.

Arrows of neon and flashing marquees out on Main Street,
Chicago, New York, Detroit and its all on t

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

he same street.
Your typical city involved in a typical daydream
Hang it up and see what tomorrow brings…”- The Grateful Dead lyrics to their song, Truckin’.

“There is a road, no simple highway, between the dawn and the

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

Examples of combination products may in

dark of night, and if you go, no one may follow, that path is for your steps alone”- Jerry Garcia quotation.

Many books have been written about the Greateful Dead and about Jerry Garcia. It has been written that they succeeded “in 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.

pite of themselves”. The lyrics of Truckin’ suggest a meandering of purpose albeit a desire to get somewhere. One might say that Jerry Garcia was telling us that there is no simple way to success. You have to find your own way there.

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

One of the greatest impediments to success in the trucking business is getting paid on time. What if it takes 30 to 60 days to be paid after you have delivered the goods to your customer? How do you pay for fuel, insurance, equipme

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

Combination pro

nt leases and wages? Accounts receivable financing may be your answer. Once you have a receipt/bill of lading for delivery and an invoice that can be confirmed, you can receive an advance of 80% to 95% of the funds due to you. When y

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

our client pays, you receive the remainder due, less applicable finance charges.

Johnny Cash wrote in his song “Further On Up the Road”:

“Now I been out in the desert, just doin’ my time
Searchin’ through the dust, lookin’ for

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

a sign
If there’s a light up ahead well brother I don’t know
But I got this fever burnin’ in my soul
So, Let’s take the good times as they go
And I’ll meet you further on up the road”

If you are “Truckin’” accoun

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

ts receivable financing may help you get “Further on Up the Road” to your financial success. Why not just go to your bank for all the funds you need to grow your business? If you have great credit, two past years of successful operat

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

ions, excellent bookkeeping, and no major needs for substantial growth your bank may be the best choice.

If the bank says “no” to your growing company’s needs because you do not meet their qualifications, accounts receivable financi

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

ng can accelerate your cash flow to pay your payroll, your fuel, insurance and other costs. You can take on new business opportunities and grow successfully by managing your cash with this proven method of commercial financing.

Here

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

Following aspects would a

are some questions to ask yourself: Do you need a back office to help you with your collections and operations? If you company is a startup, you may want a commercial finance company to handle one hundred percent of your collections

dd to the challenges in developing combination products:

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

. If your company is established and you have administrative personnel, you may not want a third party talking to your customers regarding collections, especially if you believe these contacts may cost you business. Perhaps you want

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

something in between regarding collections, where you can be the “good cop” and the commercial finance company’s collection department can be the “bad cop”.

Do you need credit check on prospective customers? Do you need help with le

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

al or regulatory compliance issues? Are you in a cash crunch emergency that requires you to make a decision in a very short time such as one to three days? Do you have the time to read and compare proposed terms from several commerci

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

al finance companies just as you might if you were getting a loan on your home? Are you computer literate and will you have online access to your accounts? Lastly, is the cost of these extra back office services worth the extra expen

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

Professional from academic institutions, pharmaceutical industries, health care indust

se you may be charged?

Here are a few legal issues to think about: Are you required to sell all invoices for a particular shipper or can you pick and choose which invoices you desire to sell? What does the contract say about choice

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

of law? If you have a dispute with the commercial finance company and your headquarters is in California, will the dispute be pursuant to California law and California courts, or will you be agreeing to settle any dispute in a distan

.

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

t state such as New York? Can you afford to go to New York? Are you giving up your right to litigate disputes with a mandatory arbitration clause? Is there an attorney’s fee clause in the contract so if you have a dispute and win, yo

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

Companies that provide selfless information through particip

ur attorney will be paid?

The bottom line: The Grateful Dead and Johnny Cash were right: keep on trucking further on up the road with accounts receivable financing; and choose your lender wisely.

Copyright © Gregg Financial Service

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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