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Credit card cheques are merely another method credit card companies have devised in order to market their credit cards. Sometimes, companies

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

mail unsolicited credit card cheques to their customers to tempt them to make purchases with them.

In order to tempt credit card users to sp

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

Examples of combination products may in

nd on their cheques they may correctly maintain that some retailers will not accept credit cards or they will charge an additional credit car

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

fee to your bill. This is because merchants need to pay an additional surcharge every time they accept credit card payments. So they might n

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

ot accept such payments – either online at their website or offline in their shops.

How Credit Card Cheques Function
To provide

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

Combination pro

cardholders the same convenience of a credit card, companies offer credit card cheques.

Such cheques:

Function in the same mann

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

r as regular bank cheques.

You pay the retailer via your credit card when you give them a credit card cheque. The amount of your p

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

urchases is displayed on your subsequent credit card statement.

Using Credit Card Cheques is Expensive
However, ther

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

are critical differences between regular and credit card cheques. While they may offer the same convenience as normal credit cards, there is

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

a hidden side to credit card cheques about which consumers are not really aware.

You normally get almost 2 months to pay off your credit car

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

debt, without attracting any interest. This interest free period is generally not given on credit card cheques. You also pay a higher rate o

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

Following aspects would a

f interest since the credit card company considers a credit card cheque as a cash withdrawal instead of a product purchase. You may also have

dd to the challenges in developing combination products:

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

to waive the free insurance offered on credit card purchases as well as pay a 2% handling fee for using a credit card cheque.

Not surprising

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

y, UK consumers pay more than ?20 million in fees and extra costs for using credit card cheques. And it goes without saying that credit card

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

companies earn huge sums of money when consumers use their credit card cheques.

Credit Card Cheque Fraud

Did you know

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

hat thieves can steal and use your credit card cheques? When your credit card cheques are misplaced in the post, or if they fall out of your

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

Professional from academic institutions, pharmaceutical industries, health care indust

allet, well, you would be justified in panicking a bit.

The only benefit you get from using credit card cheques is that you can make impulse

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

purchases from your local vendor who won’t accept conventional credit cards. However, evaluating the risks and higher costs you pay for usin

.

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

credit card cheques, the pertinent question should not be, “Which credit card cheque should I use”. Instead, ask yourself, “Should I burn my

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

Companies that provide selfless information through particip

credit card cheques now or later”

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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