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In our current society where high regard is placed on prestige, image and personal profile, Platinum Credit Cards are often used as status symbols. T

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

his stems from that fact that these cards are only approved for high income consumers with good credit records. Due to these circumstances, a high cr

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

Examples of combination products may in

edit limit is provided, while interest rates may be relatively lower due to the lower credit risk.

Apart from that, Platinum Credit Card holders may

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

be entitled for exclusive retail discounts and free air miles that may not be available for Gold and Standard credit card users. Nevertheless, there

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

are a few considerations that you would need to make before actually applying for a Platinum Credit Card.

High Annual Fees

The platinum card status

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

Combination pro

and higher credit limit do not come without a price, as higher annual fees are applicable for these cards. Indeed, annual fess payable may go as high

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

as a few hundred dollars a year! If this is acceptable, then it may be wise to ensure that you are enjoying reward benefits that are of greater valu

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

e than a standard credit card.

Increasing Interest Rates

One of the downside of Platinum Credit Cards is that your interest rates can be increased

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

hen you only pay the minimum on your outstanding balance or have been making late payments. Interest rates can be increased by as much as 35%, which

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

amounts to a significant value. Apart from that, the minimum payment incurred may also be increased from 2% to 3%, another factor that adds to your c

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

st of using a Platinum Credit Card.

Higher Credit Limits

Platinum Credit Card owners are entitled for higher value in credit limits as compared to

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

Following aspects would a

Gold and Standard Credit Card owners. In reality, the exact credit limit varies from person to person in accordance to the evaluation done by the cre

dd to the challenges in developing combination products:

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

dit card company. One of the greatest benefits to having greater credit limits is the convenience of making purchases of greater value with just one

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

ard, rather than with a combined credit limit from multiple credit cards.

Not to be confused with Platinum Unsecured Credit Cards

Platinum Unsecure

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

d Credit Cards are not really credit cards, but rather shopping cards that can be utilized on specific outlets, or through an online catalogue. The r

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

striction here is that these cards can’t be used in other establishments, such as restaurants, gas stations or airline bookings. The word Platinum is

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

Professional from academic institutions, pharmaceutical industries, health care indust

probably associated to the unsecured high credit limits of these cards.

Shop for the right Platinum Credit Card

With the stiff competition within

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

the credit card markets, it is wise to shop around for your credit card before applying for one. Analyze the different cards and you will see that so

.

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

e credit card companies offer benefits that are better than others. In fact, incentives such as no annual fees, low interest rates, attractive reward

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

Companies that provide selfless information through particip

programs and high credit limits are now even possible for Platinum Credit Cards. You just need to look around and decide based on what fits you best

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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