Advice You - Finance

“Christmas Time, Mistletoe and Wine” How many times have you heard this so far and its only November? A few I’ll bet, but with Christmas seemingly becoming

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

earlier to us each year, we will no doubt feel the need to get ahead with our present and food buying. This though only leads to us spending more than we sh

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

Examples of combination products may in

ould. This is because with the shops full of decorations and Christmas tunes, the stores are dictating to us that we have to buy our gifts now, which will

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

mean by the time December has come and gone. We would have spent more over the 2-month period that the shops have been full of Christmas cheer.

This is no

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

t all bah! Humbug.

Personally for the occasion alone and seeing the kids faces when they open their presents on Christmas morning, as Christmas is a special

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

Combination pro

time of year that for the day makes all the preparation and spending all worth while.

But that doesn’t mean that it comes without cost and in some cases mor

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

e of a cost than folk can ill afford. For all of its pomp and occasion, Christmas can come at a heavy price to bear for a lot of people who, rather than le

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

t their children and family down, will turn to the promise of riches that credit cards and store cards offer.

Don’t get me wrong, credit cards and even stor

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

e cards, have their uses. This is only true though, if you only use them to your advantage, to get the best out of them. If you are thinking of taking one

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

or the other, then the only suggestion that I can make is to plump for the credit card, over the store card.

We all want to enjoy this time of year, so by g

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

tting all that you want to do this and in doing so, save cash and not to fall heavily into debt, will make the festivities all the more enjoyable. So by gi

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

Following aspects would a

ving you a few advantages and disadvantages, which credit cards and store cards entail, will hopefully go a long way on helping you make the right decision

dd to the challenges in developing combination products:

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

s.

Firstly the advantages of credit cards:

• More favourable interest rates than a store card.
• Many offers on the market, which are giving you an inte

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

rest free period.
• Some come with money back schemes that give you a percentage of your expenditure back to you. (Usually between 0.5%- 2%)
• Will

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

protect your gifts, as soon as you have bought them.
• Lets you buy now and pay at a later date, only on what you have spent without incurring any int

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

rest charges.

Now the disadvantages:

• Can lead you to spend more than you can afford to pay back, which in turn will lead to the interest being charged to

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

Professional from academic institutions, pharmaceutical industries, health care indust

your account.
• They can come with a heavy hit in the pocket, with charges for late payments and going over your credit limit.

Advantages of the store

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

card:

• Can use them as soon as you are accepted for the card.
• Initial discount (normally 10% off you first purchase) will give you a saving straig

.

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

ht away.

Disadvantages:

• Overly high interest rates, which are well above those of a credit card. Some can be as much as 30%.
• Can lead you quickly

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

Companies that provide selfless information through particip

to debt, if they are not cleared at the end of each month.
• Sold to the customer, by assistants who know absolutely nothing about what they are selling

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 - A Credit Card Can Sing A Christmas Carol

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