Advice You - Finance

If you have many credit cards and are seriously into credit card debt, chances are good that you must be thinki

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

ng of getting rid of few credit cards. The strange fact is that if you get rid of a credit card without giving

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

Examples of combination products may in

hought to the points listed below, you could be shooting yourself in the foot. Yes, it could damage your credit

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

history further. Here is how this happens.

Assume that you have 3 credit cards with the following data

Card

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

: $2000 credit limit - $1000 Outstanding Balance
Card B: $5000 credit limit - $2500 Outstanding Balance

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

Combination pro

> Card C: $10000 credit limit - $5000 Outstanding Balance

With these credit cards the data that emerges is tha

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

t you have a total credit limit of $17000 of which you have an outstanding balance of $8500 or 50%. The fact is

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

that the percentage of your outstanding balance to credit limit should be low. The credit rating agencies prefe

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

it to be in the limits of around 30%.

Now suppose you decide to end your Credit Card A and transfer all its b

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

alances to credit card B supposing that it has a low APR. Now you have a total credit limit of $15000 and outst

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

nding balance of $8500 (providing the balance transfer doesn't increase the credit limits). With this step your

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

Following aspects would a

outstanding balance to credit limit ratio goes up to 57%(rounded off).

So, the net result is ending a credit c

dd to the challenges in developing combination products:

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

ard will increase your credit

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

ard debt to limit ratio which is not good for credit history.

Secondly, the age of credit card also matter

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

when it comes to determining credit history. The credit card that stays with you for longer than 6 months is g

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

ood to keep because credit rating agencies give a lot of weight of age of a credit card. So, if you decide to e

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

Professional from academic institutions, pharmaceutical industries, health care indust

d a credit card and it is an old one, give it a second thought. All the credit history associated with that cre

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

it card can be wiped out in an instant with this decision.

The picture that emerges from the above facts is th

.

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

at if you want to end a credit card make sure that your outstanding balance to credit limit ratio remains or be

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

Companies that provide selfless information through particip

omes low and doesn't increase. Secondly, don't end a credit card which has a good long record of credit history

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 - Two Ways How Ending A Credit Card Account Can Hurt Your Credit History

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