Advice You - Finance

With ATM cash machines currently costing anywhere from $3,000 to $30,000

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

, there is no doubt that buying one for your business is costly. If you

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

Examples of combination products may in

rrange things right, however, buying an ATM can actually be a very sound

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

investment.

Provided that you primarily manage the machine yourself, o

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

going maintenance costs shouldn’t be too high. You’ll have to pay for th

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

Combination pro

e electricity to fun the machine, as well as around $40/month for a dedi

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

ated phone line, and $50 each time the machine is professionally re-load

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

ed.

There may also be a monthly charge (usually $15 to $25 per month),

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

hich is required by some vendors but not others. It is important to take

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

these fees into account when considering different machines and doing p

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

ice comparison research.

Once you have paid all these little fees, howe

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

Following aspects would a

er, it is possible to make money on your ATM by collecting a percentage

dd to the challenges in developing combination products:

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

of the surcharge. The average charge for an ATM transaction is $1.60, an

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

as the owner of the machine, all or a portion of this money will go to

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

you.

Depending on your contract with the ATM vendor, and how much of th

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

maintenance work you do yourself, your share of the money can range fro

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

Professional from academic institutions, pharmaceutical industries, health care indust

m 35% to 100%. There is also the added benefit that customers will never

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

find themselves short of cash when making a purchase at your store.

The

.

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

refore, installing an ATM machine not only helps your existing business,

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

Companies that provide selfless information through particip

but can become a fully sustainable or even profitable business in itself

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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Advice You - How to Make Money from ATMs

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