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Advice You - Are the Banks Moving the Goal Posts?
After the much highlighted government investigation into credit card charges, and the resulti
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
ng guidelines, which caused an immediate reduction in profits for the financial institutions,
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
they are starting to hit back.
As many industry observers predicted, these massive institut
As many industry observers predicted, these massive institut
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ions were never likely to give up that income without a fight, and now they are fighting back
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
. Over the last few months many banks have announced changes in their overdraft services, wi
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
th many of the “free” services now disappearing. These changes have been rushed in as the ba
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
nks are also concerned that the government may review how current overdraft facilities are op
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
rated - with yet more speculation that these charges will also be capped.
In a sign of the t
In a sign of the t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
imes, Lloyds TSB (www.lloydstsb.com) recently withdrew their free ?10 overdraft buffer, which
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
was enjoyed by many of the banks customers, and increased the interest rate charged on overd
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
rafts. They have also increased the annual charges for many of their premium accounts, resul
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ting in increased charges to many of the banks customers.
These small, yet significant chang
These small, yet significant chang
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
es by a major banking institution are most defiantly a sign of things to come, with the banks
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
not willing to take on historic financial risk for reduced income. As always it is the cons
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
mer who will be hit hardest, with Lloyds TSB expected to bank a further ?19 million a year in
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
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
“profit” from the above changes.
While the general trend is towards higher charges, and red
While the general trend is towards higher charges, and red
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
uced “free” services, there are still a small number of offers available in the market place.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
These offers will not last too long, with further upheaval expected to bank charges in the 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
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
hort to medium term. While the government acted with the best of intentions, the UK financia
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
l institutions are literally “chasing” lost profitability, in different areas of the business
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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