Advice You - Finance

Identity theft has become quite an epidemic in this country. This crime is being committed to millions of Americans every year. Unfortunately, unlike the olden days, whe

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

re you trusted everyone including your neighbors, today you can never be too careful. Being too trustworthy of other people leaves you prey to having your identity stolen

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

Examples of combination products may in

.

You hear about identity theft all the time, but what is it really? According to the Federal Trade Commission identity theft is anytime someone uses your personal ident

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

ifying information, like your name, address, social security number, credit card number, without your permission to commit fraud or a crime.

So, in simple terms, they pre

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

tend they are you, use your information, and run up huge debt, usually credit card debt, all the while pretending to be you.

The Federal Trade Commission reported that in

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

Combination pro

January 2007 there were nearly 250,000 complaints filed of identity theft, which was up 36% from that of 2006 with total losses in the range of a whopping $1.1 billion.

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

In fact, the Federal Trade Commission estimates that an average 10 million Americans have their identities stolen every year. WOW! That is just unbelievable.

And to mak

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

e matters worse, if you have fallen victim to identity theft, not only were you a victim, but you have the hassle of fixing the mess. My experience has shown that it take

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

s the average victim of identity theft approximately 2 years, and countless hours and hours, to regain their credit and their life. Not only do you have to fight with eac

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

h credit reporting agency, but with the companies reporting the claims, and then prove that you really were not the one to incur the debt. Let me tell you, it is not easy

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

.

According to the FTC, skilled thieves can steal your identity through a number of ways:
• Steal your mail, your wallet or your purse
• Through Phishing. Ph

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

Following aspects would a

ishing is when a thief poses as a legitimate company most commonly done via email to verify personal information, such as your Name, Address, Social Security number, credi

dd to the challenges in developing combination products:

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

t card number, etc.
• They steal your information from businesses that already have that information on file.

Once a thief has your personal information, they ca

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

n use that information to open accounts using your identity. There are many forms of identity theft that is currently being practiced. One form is credit card fraud, in

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

which the person pretends they are you using your personalized information but changes the address so the cards and bill go to a different address. Then they rack up a to

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

n of debt and don’t pay the bill. Another form is through bank fraud. This is where someone either opens an account in your name and writes bad checks or pretends to be

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

Professional from academic institutions, pharmaceutical industries, health care indust

you and electronically transfers money out of your existing accounts and drains your life savings. Yet another form of identity theft is when they open a cellular phone i

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

n your name and run up the bill and then do not pay. Then the phone company is coming after you for payment. And this is just to name a few of the common ways in which s

.

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

omeone uses your stolen information.

So, how do you protect yourself so that you don’t fall victim to this horrible crime?

**This article is part one of a two part artic

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

Companies that provide selfless information through particip

le. To see the rest of this article, go to Amys Articles

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

My fair skinned wife, a Tacoma, Washington native of German heritage can fix the best tasting Baja fish taco I've ever tasted. It isn't the cook, although I will never tell her this, it is the successful recipe she follows. The same is true with selling. It isn't the salesperson; it is the selling process they follow.

Affiliate marketing can be profitable, but you need to take the advertising with a grain of salt.

Every customer looks for 3 special benefits when they do business with you. They may not specifically ask for these benefits. But you're losing sales if you don't automatically provide all 3.

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Advice You - How To Protect Yourself From Identity Theft - Part One

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