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As competition in the UK credit card industry has consistently increased in recent years, credit card providers have been searching for more and m

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

ore ways to attract customers to their own package of products. Most have gone about this by dropping prices with credit card rates available toda

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

Examples of combination products may in

y that would have been unthinkable just a few years ago. It is now possible to find 0% credit card interest rates not only on balance transfers bu

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

t also on purchases. While these rates may only be available for limited introductory periods of a few months, it is easy to see how prices have c

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

ontinued to drop across the market as credit card providers have been searching for new ways to attract customers.

One method that the credit car

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

Combination pro

d companies have been very keen to use to attract customers is by offering reward schemes and incentives. These schemes are generally targeted at

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

the higher end of the market and wealthier customers and they will be of more interest to customers who usually pay off their entire credit card b

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

ills in full every month thus incurring no interest charges. This means that since these customers are already paying no interest, they will be lo

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

oking for other feature that will make credit cards stand out and attract them. Reward credit cards are specifically designed for this purpose.

R

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

eward credit cards will give you rewards based on the amount you spend on the credit card. You will generally find that there are three methods of

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

accruing rewards. You will either be getting cash back on the card such as a certain percentage of everything you spend. Another method of reward

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

Following aspects would a

ing customers will be to give them points or another form of token to collect. These points can then be redeemed for gifts such as luggage, afters

dd to the challenges in developing combination products:

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

have and whatever else the credit card company can think of offering. While many of these reward schemes offer very attractive gifts and a great r

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

ange of choices, it is probably preferable to have a cash back reward as then you can spend the money on whatever you like.

The final common meth

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

od of reward is with airmiles. Airmiles are a very popular reward as most customers have reported that they love redeeming them for free flights o

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

r even flight upgrades to business or first class tickets. Whatever kind of reward credit card you opt for, look carefully at the amount or speed

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

Professional from academic institutions, pharmaceutical industries, health care indust

at which rewards will accumulate, for example some credit cards will offer you one air mile for every pound you spend while others will offer four

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

. This is a big difference. Also make sure you take the other terms and conditions into account.

Recently, there has been a report published stat

.

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

ing that many people are not using their loyalty points. This of course defeats the whole point of using a reward credit card. It was found that t

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

Companies that provide selfless information through particip

he most used rewards credit card was in fact Goldfish and with many other credit cards it was found that only 10 per cent used their reward points

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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