Advice You - Finance

Getting a credit card now a days is not as easy as it used to be due to the fraud that is now circulating around

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 world. In the 1980’s and 90’s you could go to your mail box and find numerous credit cards that only needed t

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

Examples of combination products may in

o be activated from a number on the back of the card and presto!, you have a credit card. Late in the 1990’s cred

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 card fraud increased and the security measures where heightened and then you were only able to activate your c

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

redit card from your home telephone. At this time of writing this has now been changed as various credit card com

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

Combination pro

panies are now sending a mock credit card with an offer before actually sending the credit card out to someone’s

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

home.

But does this stop fraud? Not all the time but it has helped. In the late 90’s kids in apartment complexes

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

would steal people’s mail, activate the credit card, and charge it to the max and then move on to the next. It wa

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

sn’t until 30 days later that the victim would get a bill saying that he or she owed X amount of dollars. This ho

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

rror struck many people, which is a major reason for changing some of the protocol for credit card distribution.

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

Even in our new century credit card security has gotten a little tighter by placing a picture of the person on t

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

Following aspects would a

he credit card to prevent fraud if the actual credit card has been stolen. The author feels that finger printing

dd to the challenges in developing combination products:

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

will be the next big thing if this does not produce a favorable result. But still, why so much fraud, the answer

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

is easy; free Money, and thief’s wants something for nothing and credit cards have been the main target for over

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

0 years.

Another type of credit card fraud is from the owner itself. This involves where a person will buy as mu

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

ch as possible on a credit card and then file bankruptcy months later as they never intended on paying the bill i

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

Professional from academic institutions, pharmaceutical industries, health care indust

n the first place. This was stopped in the late 1990 ‘s by the government and credit card companies working toge

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

ther. The solution they came up with was to not allow anyone filing bankruptcy to be able to include credit card

.

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

debt unless it is over 2-3 years prior, thus putting a damper on this type of activity. Although fraud still exis

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

Companies that provide selfless information through particip

ts in today’s credit card world. The credit card companies are lessening their chances of becoming the easy victi

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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