Advice You - Finance

Many businesses that fail are profitable when they go under. Costs of sales, carrying inventory a

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

nd rapid growth can absorb your business’ cash flow. And waiting 60 to 90 days to get your invoic

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

Examples of combination products may in

s paid can slow your sales and business growth. All business’ have to pay rent, suppliers and mee

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

t payroll on a regular basis. If most of your cash is tied up in slow paying invoices you may mis

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

important opportunities to grow your sales. Can you, as a business owner, deliver large orders t

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

Combination pro

o new clients and provide credit to your customer’s for 60-90 days?

If you cannot afford to wait

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

to get paid by your clients there is a solution that can provide you with the necessary cash. It’

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

s called accounts receivable financing. With accounts receivable financing you can accelerate the

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

payment for your invoices, get funding for exponential growth, and meet your recurring obligation

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

s.

If adequate bank financing is not available, accounts receivable financing may be the solutio

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

to find your way to increasing profits. The main requirement is that you have invoices from cred

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

Following aspects would a

itworthy commercial customers. Many factoring companies are comfortable working with your new com

dd to the challenges in developing combination products:

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

any – even if you have no hard collateral – provided that you have good invoices, a strong gross

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

margin and a solid business plan.

Another advantage of accounts receivable financing is that it

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

s like a line of credit that increases as your business grows. There are commercial finance comp

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

anies that provide accounts receivable financing for small, medium and large businesses. And your

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

Professional from academic institutions, pharmaceutical industries, health care indust

financing costs can be reduced as your business grows. As a tool, accounts receivable financing a

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

llows you to tap into the power of your greatest assets – the credit of your credit-worthy custom

.

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

rs and their obligation to pay for goods and services you have sold to them. It allows you to tak

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

Companies that provide selfless information through particip

e advantage of new opportunities and grow exponentially.

Copyright 2007 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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For those of you familar with DemoCamp, CaseCamp may be the polar opposite with its flashy power point presentations and marketing case studies. For anyone interest in online or interactive campaigns it's a great event to see what works and what doesn't. CaseCamp Toronto at The Fifth Club Wednesday nigth after a summer break and several other CaseCamps around the Canada ( Montreal & Vancouver ). I enjoy CaseCamp because it lets me see how online marketing campaigns are evolving.

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Advice You - Accounts Receivable Financing: The Way to Increasing Profits

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