Advice You - Finance

Many people aren't aware that the total amount of outstanding credit card debt that a person carries can adversely affect the

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

interest rate on other credit cards.

Sounds like a Catch-22 situation, doesn't it? Higher debt + higher interest rate = hig

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

Examples of combination products may in

her monthly payments that are harder to pay.

Here's how it happens.

Credit card companies constantly monitor a cardholder's

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

credit report and profile. The credit card companies have whole departments of credit analysts whose job is to look for a ch

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

nge in your credit status, limits, and usage. When the analysts detect that additional unsecured credit has been added - eith

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

Combination pro

er in the form of personal loans or additional purchases on other credit cards (or using one card to pay the monthly payment

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

on another card!), they have the option (and usually do) of increasing the interest rate of the credit card that they have 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

ued. This is to offset their increased risk (higher risk = higher interest rate) that a cardholder might miss a payment.

Thi

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

s new, higher interest rate can even override a low promotional interest rate that had been extended as a "balance transfer"

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

or introductory rate. This means an even higher minimum payment will be due the following month - placing an even heavier bur

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

en on a cardholder's budget.

On the other side of the equation, if you keep very low or no balances on your credit cards, yo

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

Following aspects would a

u can get very low interest rates because the credit card companies want you to use their cards.

The solution.

Keep to your

dd to the challenges in developing combination products:

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

budget and make every effort to pay off your higher balance credit cards as soon as possible - to keep your credit card inte

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

rest rates low, and your payments to a minimum. I know it's easier said than done, but you'll receive multiple benefits for y

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

ur hard work watching your finances.

Another great way to clear out credit card debt is to take out a debt consolidation loa

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

n. This will create a single monthly payment at an interest rate that could have an APR of 10% or less (compared to as much a

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

Professional from academic institutions, pharmaceutical industries, health care indust

s 21.99% APR or higher from the credit card companies!). You can then close some of your existing credit card accounts, and a

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

though your debt burden remains the same for a while, you may raise your credit score simply by having less available unused

.

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! Sounds like a winning combination - lower fixed interest on outstanding debt, and an increase in your credit score. T

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

Companies that provide selfless information through particip

he next time you need credit, a higher credit score could mean a lower interest rate on loans for automobiles and home buying

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 - New Information Reveals Total Debt to Interest Rate Relationship

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