Advice You - Finance

The traditional credit card is a great tool for making purchasing easy for both the retailer and the customer.

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

But in this drive to be simple, there have been questions about the security of the system. In Europe, more tra

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

Examples of combination products may in

sactions are being placed with the use of smart cards. And with all of their advantages, this might be somethin

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

g that the United States should begin to consider.

What is a Smart Card?

A smart card looks just like a regula

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

credit card, but instead of the magnetic strip on the back of a piece of plastic, it has a tiny microprocessor

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

Combination pro

nderneath a gold contact pad. It’s a small computer that stores all of the information that a retailer might ne

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

ed.

This microprocessor allows the main computer host to ‘talk’ with the card to get the information that it ne

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

ds. And unlike the traditional magnetic strip, it’s much more difficult to remove or steal information from a s

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

art card. Many thieves can actually buy cheap equipment and get information from the magnetic strip on a regula

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

r credit card, but not with a smart card.

How is this safer?

Because your information can not be gathered from

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

a smart card without your authorization, your financial information as well as personal information is safe. In

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

Following aspects would a

fact, this is the same technology that is used in satellite TV so that you can get the channels that you have pa

dd to the challenges in developing combination products:

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

id for. Without the payment, the host won’t ‘talk’ to the smart card.

Other applications include health benefi

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

cards (in Europe), government identification, security systems, electronic cash, banking, wireless communicatio

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

, and credit cards.

The cards can also be used with a smart card reader when you are making purchases over the

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

Internet to further insure that your information is safe and secure. Simply attach a reader to your computer an

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

Professional from academic institutions, pharmaceutical industries, health care indust

create your own ‘cash’ register.

Smart card readers can also be found in vending machines and cellular phones.

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

With a smart card, you don’t have to worry about your credit information each time you want to make a purchase

.

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

and you don’t have to worry if you lose the card. You will still report it as stolen, but the thief will not be

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

Companies that provide selfless information through particip

able to do much with it since he or she won’t know the information that is contained on it and how to release it

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 - How Smart Cards Increase Security

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