Advice You - Finance

There are so many things to consider when it comes to choosing a finance company. Finance companies usually provide leasing or hir

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

e purchase contracts to the small and other business owners. There are several types of finance companies in the market. For examp

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

Examples of combination products may in

le, some finance companies are the subsidiaries of the major banks. Some companies provide finance to promote marketing of their o

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

wn products. A typical example of this kind of finance companies is car manufacturers. Some suppliers of the business equipments a

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

d other kind of equipments also facilitate financing. Adding to this list are the members of the finance and leasing association a

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

Combination pro

nd some other independent houses also.

Competition is Growing Among The Finance Companies:

There has been a significant increase

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 the number of finance companies entering in the market recently. This is naturally resulting in fierce competition among the f

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

nance companies. Growing advertisements of the finance companies in the major newspapers is a proof of this fact. How can you judg

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

e whether a particular finance company is right for you or not? First, you should look for the reputation when choosing a finance

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

company. It should have a good reputation in the market and even better if it is also a member of the finance and leasing associat

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

on. The second thing is that whatever kind of contract you have with the finance company, it should be in accordance with some typ

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

Following aspects would a

e of written or verbal quotation. The duration of the leasing agreement should be long enough to cover the period for which the as

dd to the challenges in developing combination products:

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

set is required. The finance company you are going to choose should be open enough to tell in advance regarding the penalties if a

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

ny in case of early termination of the leasing agreement. Prepayment penalty is the biggest hidden cost of borrowing any loan. You

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

should avoid companies that charge any such penalties.

In other words, you should choose a finance company that tries to hide not

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

hing from you. You get to know every condition of the company before signing the agreement including the amount of rentals and the

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

Professional from academic institutions, pharmaceutical industries, health care indust

notice and hire periods. Moreover, also make sure that whatever equipment you are going to lease from the finance company is new.

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

You should not forget that when you choose a finance company, it is not a short-term deal. You cannot take it easily, because you

.

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

have to maintain relationship with the company for a longer period. It will be better if you can choose a finance company that giv

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

Companies that provide selfless information through particip

es you the flexibility of switching between the floating and fixed rates while not charging a single penny extra for this facility

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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