Advice You - Finance

Whether you are new to the world of credit cards, or a seasoned veteran, understanding the information in your credit card statement can be confusing. There is a lot of

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

information packed onto a single page, and if you’ve never taken the time to review your statement in detail, it may be a good idea for you to do so. That way you are

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

Examples of combination products may in

more likely to notice if there are any abnormalities with a statement that might indicate identity theft or merchant errors.

The statement should display your account n

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

umber prominently. This is the number that uniquely identifies you to the credit card company. When purchases are made using your credit card, they are all attached to

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

this account number and charged to you. If you need to call customer service for any reason, you will be asked to provide the account number.

If you’ve ever used one

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

Combination pro

of your credit cards and had difficulty making an online purchase or a purchase over the phone because the merchant says your name doesn’t match, it’s probably because y

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

ou have used a middle initial on your card but not in the checkout process, or vice versa. On your statement you can view your name as it is saved in relation to your c

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

redit card account. Jane L. Doe is different from Jane Doe or Jane Lee Doe, so it’s important to note how your account is set up.

The statement date displayed on the c

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

redit card statement shows you all transactions that took place between the last statement date and the current one. The payment due date is the date which your credit

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

card company should receive payment in order to avoid late fees and additional finance charges. While some companies allow you to postmark your payment on the due date,

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

most want to receive it by the due date, so plan accordingly.

The credit line shows you how much money the credit card company will allow you to charge on their card a

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

Following aspects would a

t one time. You can charge multiple transactions, but the total amount owed must not go over this amount. If you do manage to spend more than your credit line, you wil

dd to the challenges in developing combination products:

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

l pay over-the-limit fees. The credit available displays how much of your credit line you still have available to spend.

The new balance information displays how much

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

you have charged and have not yet paid back. If you pay the entire amount in this column, you will not be charged interest. The minimum amount due is the amount of mon

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

ey that you are required to send by the due date.

The transaction list is a detailed listing of everything that has occurred with your account since the last statement.

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 will detail purchases, returns and refunds, and interest charged to the account. If there is anything you don’t remember buying, contact the company listed in the

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

Professional from academic institutions, pharmaceutical industries, health care indust

transaction listing or call your credit card account immediately.

There is also a section that shows how your current balance was calculated. It shows purchases, finan

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

ce charges, interest, your last payment information, and then the total balance of the card is shown again in this section as well as the minimum amount you must pay tha

.

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

t month to stay current with your payments. You should always try to send more than the minimum, if not the entire balance, each month to avoid finance charges, and int

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

Companies that provide selfless information through particip

erest. The finance charge summary section will show you how interest and finance charges are applied to any balance that remains on your card from one month to the next

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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