Advice You - Finance

If you are a member of the unfortunate group of people who have less than perfect credit, or poor credit, you know how tough it is to get approved for any kind of a normal credit card. Man

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

y times the credit card offers you do receive are disguised as being legitimate when in actuality they are a rip-off. They offer inflated fees, astronomical interest rates and ridiculous t

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

Examples of combination products may in

rms. These companies target consumers with poor credit who are trying their best to rebuild it and take advantage of their situations. Let's take a closer look at one such credit card off

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

er that is going around these days.

There are several different credit card companies that send out pre-approved credit card offers disguised as legitimate Visa or MasterCards, when really

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

they are credit cards for store clubs or catalog clubs. The offer tells you that you are pre-approved for a credit line of up to $5,000 with no security deposit. They make you believe you

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

Combination pro

ll be rebuilding your credit and enjoying the convenience of having a credit card in your wallet.

It sounds so good doesn't it? Your desperate for a credit card and this wonderful offer c

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

omes in the mail. I get these myself, but let's take a closer look at the fine print and what this is really about. Here is a typical headline in the letter you get. "Congratulations! Y

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

u have been pre-approved for a Visa card with a $5,000 credit limit!" It goes on to say that all you need to do to activate your card is to verify your personal information, sign it and sen

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

d back the pre-approved application. Your new card will be sent immediately.

If you continue reading the entire document you will find that this isn't a regular Visa credit card. It will

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

only allow you to make purchases with the credit card in their special "store" or "online catalog". You can't use it anywhere else. The products usually consist of non name brand items li

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

e electronics and house ware products.

A little further down the letter it states that in order to activate your new credit card you'll need to send in a check or money order for $299.00 t

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

Following aspects would a

o cover the activation or new account fee. Of course you'll immediately get a discount on your first purchase. Some companies will also charge an annual fee of another $100-$200 on top of

dd to the challenges in developing combination products:

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

the activation fee. It's not beginning to sound like such a great offer now is it?

This is just one example of many that are sent out to unsuspecting consumers in the mail every day. Her

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

e are just a few things to watch for with any credit card offer:

• You can only use the new credit card to make purchases through the company's online catalog or store. The items are pric

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

d much higher than you can purchase them elsewhere. You're trapped into using the card for these purchases only.

• The credit card has ridiculously high fees, such as hundreds of dollars

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

f an activation fee, joining fee, annual fee, or monthly account fees. These fees are how the credit card company makes its money off the backs of consumers who are desperately trying to r

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

Professional from academic institutions, pharmaceutical industries, health care indust

ebuild their credit.

• High interest rates. Credit cards from companies like this can often have APR's of anywhere from 25% all the way up to 45% or more. You have to read the fine print

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

and keep this in mind.

The best thing you can do with an offer like this is to take it and throw it in the trash. Take the $250 you would spend to open an account with one of these credit

.

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

cards and spend it on a secured credit card instead. You can easily get a Visa or MasterCard with a security deposit. These companies report your payments to all the major credit bureaus

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

Companies that provide selfless information through particip

each month and before you know it you'll be on your way to rebuilding your credit. Keep this in mind the next time you receive one of these fantastic new credit card offers in your mailbox

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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As business owners, we often focus on the tasks in our business that we enjoy doing the most and put off those things that we like the least. Often the things we are qualified to do but don't enjoy as much are put off due to fear. When we deal with the fear head on, set due dates and subcontract the stuff we really struggle with or extremely dislike, we'll have less stress in our lives.

Here are some of the areas to consider when starting a telephone selling initiative in your organization.

Ok, so now the auction is over, your items have all been sold and now you're ready to package them up and send them off to the winners. Is that where it all ends? Or is that where it all just begins?

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