Advice You - Finance

The changes in terms for your credit card can impact you financially. So many people simply pull the statement out of the envelope and never read

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

any of the changes in terms or other materials sent by the credit card company.

There are even some people that assume that their rates won't cha

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

Examples of combination products may in

nge and that terms won't go against them.

Make sure you read everything your lenders send you thoroughly. For example, your late fees, overlimit

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

fees and other charges may be rising. The default rate could be going up as well.

Recently some credit cards have raised the minimum amount perce

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

ntage by a percentage point or more. While this helps you in paying off your card about two weeks faster, it can hurt those that are stretched to

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

Combination pro

the maximum breaking point.

Many credit card borrowers are outraged when things are changed. How can they do this, they ask. Well, they can. They

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

've always been able to, and they do it all the time.

When you accept a credit card, you are signing to the terms promised at the time of offerin

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

g. But you are also signing a statement that says the issuer can change the terms anytime it wants to, to anything it wishes. Most credit cards ar

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

e only required to give you a sixteen day notice in the change of terms.

What can you do if your terms are changed? You can either accept or cut

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

the card up and never use it again. If you choose option two, you preserve your current terms, but lose the card.

If you don't read the terms, yo

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

u can't say you didn't know. The next time you use the card, the purchase is acceptance of the terms. You are blindly agreeing to new terms.

Plus

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

Following aspects would a

, chances are that the terms will not be changing to benefit you. Last year, credit card issuers collected over $16 billion in penalty fees last y

dd to the challenges in developing combination products:

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

ear. Seventy percent of those dollars were from late fees. The fees are rising. Most people paid over $34 dollars per incident last year.

Make su

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

re that you understand all of the terms of your credit cards, including what the rates and fees are. And understand that those terms can change at

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

any time. You are taking a huge risk by taking on a debt that is out of your control. Make sure that you know what can happen before you agree to

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

it.

Check your statements to see that you are being charged teh correct rates. You can see your rates increase without any default on your part.

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

Professional from academic institutions, pharmaceutical industries, health care indust

There are many reasons that card companies will give you for changing your rate.

If you want to insure that you never face that late fee, schedu

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

le regular minimum payments. You can always pay more anytime during the month to pay off your balance faster. But by at least having that minimum

.

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

come out automatically, you are eliminating any missed payments.

If you see that there is trouble in your future, make sure you take action right

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

Companies that provide selfless information through particip

away. Sitting and waiting can cost you money if new fees kick in on your accounts. Talk to the lender before you have any troubles with your card

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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