Advice You - Finance

One of the biggest myths is that if you file for bankruptcy you will be financially free and no longer have debt problems. Wrong! Bankruptcy is not the cure-all for getting out of debt. Over a million Am

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

ericans file for bankruptcy every year. One in every 73 households files for bankruptcy. In 2005, 2 million Americans filed for personal bankruptcies. Millions of Americans are in debt and get in debt ev

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

Examples of combination products may in

ery year. Many people think that filing for bankruptcy will solve all of their debt problems. On the surface it seems that if you file for bankruptcy all of your debt will be eliminated and you can start

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

with a clean slate. Actually it is not that simple.

To file for personal bankruptcy you must reside in a state for 90 days prior to filing and have a total unsecured debt less than $290,525 or

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

secured debt less than $871,550. The new bankruptcy law that went into effect in October 2005 states that debtors (consumers) who earn less than the median income in their state about 80 percent of thos

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

Combination pro

e who file for bankruptcy still would be entitled to file under Chapter 7. But those who earn more than that and who have the ability to repay at least $6,000 over five years would have to file under Cha

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

pter 13, which requires a repayment plan.

Although it is true that after you file for bankruptcy you can purchase a house or a car, what people don’t realize it that the interest rate that you w

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

ill be given will be very high. Also, based on the new bankruptcy law implemented in October 2005, it is harder to file for bankruptcy and depending on the type of bankruptcy granted it will remain on yo

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

ur credit report for seven to ten years. This greatly lowers your credit score and it will probably take about 3 to 5 years before you score increases due to the bankruptcy filed and provided that you do

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

n’t get into any further debt.

When you have financial problems and can’t see any way out bankruptcy looks like the best option but there are many other options available to you. If you have a

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

house you can take out an equity loan to pay your debts, you can reduce your expenses and create a budget for yourself, you can get a part-time job, go to school and further your education and get additi

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

Following aspects would a

onal training related to your particular job, setup payment plans with your creditors or sell some of your assets if you have any.

The best consumer is an educated consumer. If you find yoursel

dd to the challenges in developing combination products:

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

f in financial troubles the first and best thing to do is do research and find out the options available to you. Next you want to identify your assets and liabilities. Your assets are anything that you d

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

o not owe money on such as stocks, bonds, 401(k), retirement plans, etc. Your liabilities are anything you owe money on such a house, investment property, boat, car, etc. This will help to determine if y

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

ou have any assets that can be sold or money borrowed against to pay off your debts. Next you need to create a budget for yourself to identify how much money you have coming in (how much you get paid eac

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

h week) and how much money you have going out (how much you pay each month in bills and expenses).

If you have very little or no assets then you will need to do some quick fixes such as cutting

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

Professional from academic institutions, pharmaceutical industries, health care indust

back on expenses such as: bringing your lunch to work, carpooling, catching the subway or bus to work, riding your bike or motorcycle to work, eating breakfast at home, renting videos instead of going t

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

o the movies or cutting back on how often you go to the movies, canceling your pager or cell phone service or switching to the cheapest plan available. These things will provide extra money in a short pe

.

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

riod of time until you develop a plan for paying off your bills. If you have researched all options that are available to you and are unable to use any of them then bankruptcy should be your last resort,

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

Companies that provide selfless information through particip

not your first option.

Getting in debt is the worst place to be but with time you can overcome this obstacle. Think long and hard before filing for bankruptcy. It may not be worth the headache

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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If you are in the mobile car wash business and you should be. Then you know that your clean work vehicles is your best piece of advertising. But what type of signage should you put on it? Your work vehicles will be very visible in the parking lots while you are working.

There are reasons why parents want to work from home. But how can work from home parents make a good planning such that it will be a happy one for both themselves and their kids? Read the following to learn more.

The exact way in which the search engines rank the pages of a web site is not known to anyone outside of the inner circle of engineers working for Google, Yahoo, MSN etc. However there are some general principles on what is considered to be positive factors that can influence your rankings. These factors relate mainly to the quality and quantity of incoming links to your site. Although outgoing links also play a part, they are not as important as incoming links.

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