Advice You - Finance

Consumer debt is a financial killer. One of the best ways to reclaim your financial future is to repay those high interest consumer loans and then restrict the use of credit cards to emergencie

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

s and fast investment cash.

Consumer debt is usually used to finance the purchase of "nice to have" things-which typically depreciate in value. Whereas, investment debt is the use of financing

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

Examples of combination products may in

to purchase things which go up in value, like real estate, antiques, and well-run businesses.

Consumer credit increased at an annual rate of 2.5 percent in May 2006, while revolving credit in

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

creased at an annual rate of 10 percent. The Federal Reserve Statistical Release for July 10, 2006, indicates Americans currently owe over 808 billion dollars in revolving debt, which is princi

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

pally credit cards and auto loans, and over 1.3 trillion dollars in non-revolving debt. According to U.S. Bankruptcy Court statistics, there were well over 2 million bankruptcy flings made in 2

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

Combination pro

005 alone, with the vast majority of these non-business related filings. Remember, there are approximately 123 million working Americans; therefore, this number represents nearly 2 percent of t

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

he working population.

The abuse of credit cards by the American consumer has become a financial epidemic. Statistical Release for July 10, 2006, indicates Americans currently owe over 808 b

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

illion dollars in revolving debt, which is principally credit cards and auto loans, and over 1.3 trillion dollars in non-revolving debt. According to U.S. Bankruptcy Court statistics, there wer

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

e well over 2 million bankruptcy flings made in 2005 alone, with the vast majority of these non-business related filings. Remember, there are approximately 123 million working Americans; theref

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

ore, this number represents nearly 2 percent of the working population.

The propensity of Americans to assume high interest credit card debt, while fearing the use of debt to make intelligent

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

investments, is mind-boggling. Consider this example. A new car may cost you up to $500 per month. At the end of 5 years, you will have a significantly depreciated car, with a loss of $30,000 o

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

Following aspects would a

r more in principal and interest payments.

Compare this to purchasing a rental property. In the worse case scenario, you may expect to make payments during vacancies, provide for unscheduled m

dd to the challenges in developing combination products:

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

aintenance, and carry a negative cash flow from month to month. However, at the same time you will be enjoying a property that appreciates in value, while giving you a valuable tax write-off. A

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

ppreciation and tax write-offs are not the primary reason to get involved in real estate, nor is carrying a negative cash flow a pleasant thought. But, in the long run, this is more advantageou

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

s to your wealth goals than the car loan.

As a credit consumer you should also protect yourself against the dreaded Universal Default Clause. Amazingly, a large percentage of major credit card

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

issuers have this clause tucked into your user agreement. Essentially, the Universal Default Clause allows your credit card company to significantly increase your interest rate and fees based

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

Professional from academic institutions, pharmaceutical industries, health care indust

on your credit score and payment history with other lenders, including your home and car loan. Watch out for this clause and try to avoid doing business with credit card companies that use this

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

tactic to prey on their less sophisticated customers.

The next time you are tempted to take out a loan on a new boat or quad, consider how the cost of this purchase, with compounding interest

.

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

, may be better used to achieve your financial goals. The National Foundation for Credit Counseling believes it takes from 3 to5 years to recover from credit card debt, once an individual start

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

Companies that provide selfless information through particip

s a structured recovery plan. This can put a severe damper on your wealth accumulation goals. What it all comes down to is your willingness to delay gratification--a difficult emotion to master

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 - Understanding The Impact of Consumer Debt

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