Advice You - Finance

Rewards are everywhere! Gas stations... grocery stores... pharmacies... hotel chains... They all claim to reward you on purchases that you make. Likewise, credit card companies have th

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

eir own rewards credit cards programs. Simply put, the more you spend, the more rewards you get from a rewards credit card. Sounds like a sweet deal, doesn’t it?

The Fun Factor of Re

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

Examples of combination products may in

wards Programs

Unless you're a savvy rewards credit card shopper that's done his or her homework, then you might end up feeling like a kid again or worse yet, a fool. Remember droppin

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

quarter after quarter into the machine trying to get that cute little stuffed animal only to end up with a little plastic finger ring and empty pockets. If lucky, you might have gotte

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

n that irresistible toy after all, but it probably cost you way more than it was really worth. With games, I guess the idea is "fun," and if you get rewarded that's even better. But wi

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

Combination pro

th rewards credit cards, is the "fun factor" worth your hard earned money? Read more to find out how to keep the fun in the rewards.

Avoid High APRs

Cards with rewards often have hig

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

er interest rates than the typical card. For those who like to pay off their balances each month, rewards credit cards might be right up your alley. If you don't pay off your balances,

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

then you might find that the higher rates are not worth the rewards. You will need to do a little math to figure out the best deal.

Avoid Annual Fees

Like high APRs, a reward credit

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

card may require you to pay annual fees as much as $40. Once you've paid the annual fee, the rewards might not be enough to justify getting the card in the first place. Consider the v

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

lue of the reward versus the amount spent in annual fees and interest rates.

Cash In On Cash Back

Some rewards credit cards offer cash back rewards for your purchases. For example, y

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

ou might earn 1% on all purchases. If you spend $5000, then you'll get $50 back. This type of rewards credit card bases the cash back earned on the amount of purchases you make, and th

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

Following aspects would a

ere might be a maximum limit you can claim. When evaluating these offers, be sure to read the fine print.

Accumulate and Redeem Points

Most point systems are designed to give you abo

dd to the challenges in developing combination products:

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

t one point per penny spent. Say you earn 1000 points using your reward credit card. You might get a reward worth about $10, such as a store gift certificate or credit that can be accu

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

mulated and applied to a larger gift reward. If a rewards credit card offers less, has a cap on the number of points you can earn or the points can expire before you use them, then you

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

might find a better deal elsewhere. Take time to shop around!

Fly the Skies

Frequent flier programs are similar to the point system and cash back rewards. You might get one flier mi

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

e (or point) for every $2 that you spend using your card. Most cards require you to generate around 25,000 point before you can redeem them for free airline fare. Any cards that requir

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

Professional from academic institutions, pharmaceutical industries, health care indust

e you to accumulate more points might not be worth it. If you are a frequent flier and can benefit from this type of program, compare reward credit cards. The best place to do this is

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

online.

There are numerous reward programs that are available when using rewards credit cards. Individual cards may have specialized programs that are tailored to various groups, such

.

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

as small business owners, students, travelers, “shopaholics”, etc. Just like the carnival games, a girl will run straight for the games with doll prizes, whereas a boy will want to pla

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

Companies that provide selfless information through particip

y for balls or cars. The same holds true for credit cards shoppers. But beware of the gag gifts! Take your time to read the fine print and shop around for the best rewards credit cards

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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Each time we throw a scoundrel out of public office we see the problems of disruption in organizational capital and in business we too see this all the time with management turnover, mergers or simply normal attrition. In the Public Sector it can be far worse as one team or staff is not re-elected by their constituents and a team is voted into office

So you have finally planned to invade the magical world of Internet. All captions ready, all information gathered, all details penned down. What next?

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Advice You - Rewards Credit Cards – Are They Really a Sweet Deal?

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