Advice You - Finance

Like any merchandise, you need to compare credit cards too before you actually decide on which one to go for. The selection of a credit card should not be based

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

just on what is good, since there is nothing like a good credit card. Neither should it be based on the recommendations from a friend. The credit card that ful

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

Examples of combination products may in

fils your needs is the one which is good for you. Something which fulfils someone else’s need would not necessarily be good for you since everyone has their own

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

needs. Moreover, do not get bowled over by all the offers being run by a particular credit card. A lot of them are just selling tactics and might not meet your

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

requirements (and you can’t keep changing credit cards each fortnight).

So the first step is to evaluate why you need a credit card. List down all your require

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

Combination pro

ents and classify them as primary, secondary and tertiary needs. Next, search for the credit cards that fulfill most of your primary needs. Compile this informa

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

tion in the form of a list or a document. Now check these credit cards for what secondary needs they fulfill additionally. By this time you should have short-li

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

ted 2-3 of credit cards (or maybe just one). Finally use your tertiary requirements to solve the tie-breaker.

The following are the things that you should cons

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

ider when comparing credit cards:

1. The APR: There is a short term as well as a long term APR. Short term APR is a marketing and sales tactic and is used to l

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

re new customers into signing-up for the credit card. This APR is offered for a short term just after you sign-up for a credit card. So you should really be loo

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

king at the long term APR.

2. Additional benefits: These could be in terms of discounts at a particular store where you shop a lot or discounted car rentals or

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

Following aspects would a

air fares etc. Again, based on your requirements these may or may not be of your interest

3. Annual fees: Of course, this is your outgo on credit card service

dd to the challenges in developing combination products:

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

and whether you use your credit card once in a year or 1000 times, you will always have to pay this fee. So it is a very important factor indeed.

4. Credit li

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

mit: For heavy spenders, this is a very important feature. Again, check your requirements before basing your selection on this feature.

5. Rewards program: Som

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

credit cards offer very attractive rewards program. These are the points you earn for spending on your credit card. Once you have enough points you can barter

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

them for goods or service and even frequent flyer miles.

6. Interest free period: If you are going to overspend on your credit card, the interest free period m

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

Professional from academic institutions, pharmaceutical industries, health care indust

ght be of particular interest to you.

7. Cash withdrawal fee/charges: These are the charges you pay when you withdraw cash on your credit card. So if you inten

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

d to use such a service, this will be of interest to you.

8. Forex conversion rate/fees: For people traveling overseas a lot, foreign currency conversion rates

.

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

will make a lot of sense. Some companies don’t charge a fee but have ridiculous conversion rates which compensates for the fee.

There could be a lot of differe

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

Companies that provide selfless information through particip

nt offers and you might be enticed to go for them. However, the key is not to get lured by such offers and to stick to your requirements when making a selection

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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My first year as a Cyberpreneur was a steep learning-curve. I was an academic before starting an online business, so I had a lot to learn. But even if you were in offline-business before going online, you may still have to learn some new skills -online business is a whole new ball-game. Here are some of the things I learnt in my first year in Cyber Space:

Is it a fad or not?, well in one respect it is and in another respect it isn't. It will stick around, but don't expect to make money selling pixels.

The advent of electronic commerce or ecommerce paved the way for internet marketing. Besides the actual buying and selling of products through the internet, the internet marketing also includes concept selling. Making people to visit a particular web site or making them recognize a particular advertisement while they browse the internet forms part of internet marketing. The television remote enabled the viewers to keep on changing the channels and channel surfing is the order of the day. To make the viewers notice a particular advertisement the admen had to spend all their talent and brilliance to create novel and innovative ideas to present their message. Similarly the visitors to web sites are becoming more and more impatient and they use software tools to block the pop-up windows, they filter their emails to eliminate unwanted emails so the future of internet marketing depends on various new concepts and ideas to make the user take notice of an ad campaign.

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Advice You - Comparing Credit Cards

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