Advice You - Finance

So you've finally been discharged from your bankruptcy, and now you are free to do whatever you want again. The world is your oyster!

But before you grab a bucket and head for the beach

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 are a few things you need to know. First of all, a bankruptcy discharge is not a license to shop. That itch to celebrate your newfound freedom might almost impossible to ignore,

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

Examples of combination products may in

but if you want to stay debt-free, you are going to have to lay low for awhile, especially in the three months after your discharge.

Here's why: you probably feel like you've been in de

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

bt forever, but you're not the only one who knows it. Credit card companies have caught the scent too, and chances are you're getting applications left, right and center these days. Talk

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

about tempting! The best thing you can do is to throw those applications right into the recycle bin, regardless of how much this or that company says they want to help you rebuild your

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

Combination pro

credit. The truth is they don't want to help you rebuild; they want to help you get back in the position that caused you to go bankrupt in the first place.

Those 'high-risk' cards come

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

with a lot of caveats - the fee you pay to get the card, for instance. Some cards will actually charge you for the card by placing it on your card. So if your card has a $100 limit and i

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

cost you $75 to get, guess what? You only have $75 in credit. Go over that, and get ready for some nasty fees.

So how can you get your life back to normal? Before you do anything else,

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

you have to change your spending habits. Really think about the cost and quality of things and put yourself in control. For example, is it really worth it to buy that brand-name bread w

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

hen the store brand is just as good and costs a dollar less? It's a small-scale example, but if you can apply that kind of thinking in baby steps, pretty soon you'll be able to apply it

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

to everything you buy, no matter how large. So clip coupons, try to buy when things are on sale, and don't go hog wild when you do buy.

Second, prioritize your bills. Your most importan

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

Following aspects would a

t, must-pay-on-time bill every month should be your rent or mortgage. It's your shelter, and without it, handling anything else that comes your way becomes a lot more difficult. Your uti

dd to the challenges in developing combination products:

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

lities are next, because you have to be able to cook and store your food. Your third most important bill might be the telephone, the fourth your cable TV or satellite, and so on. Take an

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

average of how much of your pay check goes for rent/mortgage and bills. Then, set aside a little bit of each check to put toward each bill. It might be tedious, but trust me; it will be

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

worth it once you get into the flow.

The second thing you have to do is save up $500, doing the same as you've done for your bills - take a bit out of each pay check. Only this time, op

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

en a new account. Once you've saved $500, run to your nearest bank and request a secured bank loan for that amount. The bank should have no problem granting your request, as the money's

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

Professional from academic institutions, pharmaceutical industries, health care indust

already there. For the next 90 days, make your payments on time, every time. You will be amazed at how much faster this will build your credit than those high-risk cards!

If you have to

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

use credit, why not do so to your advantage? Here's how: purchase an item that's on sale with your credit card. Then, when your credit card bill arrives, pay the item off in full. That'

.

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

s it! You get to enjoy your new item for a month before you have to pay for it. If you can stick to this, your credit will have nowhere to go but up.

By applying the above tips, your cr

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

Companies that provide selfless information through particip

edit will be given a boost at a time when you need it the most - in the first 3 or 4 months after a bankruptcy discharge. You've been given a second chance. Don't give up - you can do it

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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