Advice You - Finance

With the nation so heavily in debt, it is not surprising that even college

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

graduates start life with the burden of loans they have taken to cover th

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

Examples of combination products may in

ir college expenses.

It is estimated that about 50% of recent college gra

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

duates have resorted to student loans, the average amount being approximat

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

ly USD 10,000. Statistics show that the average cost of college increases

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

Combination pro

t twice the rate of inflation, so it can be predicted that people will bor

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

row more money to go to college.

College debt is hardly surprising, when

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

ttending the average public school costs about USD 13,000 a year, and priv

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

te schools are two times more expensive. For a family with two or three ki

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

ds this amount is not affordable, unless the money can be borrowed from so

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

ewhere.

But after money is borrowed, it must be repaid. Luckily, besides

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

Following aspects would a

ollege loans there are grants as well, and they do not have to be repaid.

dd to the challenges in developing combination products:

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

But grants can compensate for only a small portion of college expenses.

W

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

at is worse, college loan debt affects your credit rating. If your student

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

loan debt is more than 8% of your income, do not be surprised if you have

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

difficulties in obtaining new loans.

So, what do you do with your college

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

Professional from academic institutions, pharmaceutical industries, health care indust

loan debts? There are several possibilities – start repaying them, see if

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

ou are eligible for loan forgiveness, consolidate them or refinance. These

.

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

are the ways to get out of debt – declaring a personal bankruptcy is not

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

Companies that provide selfless information through particip

solution because most college loans cannot be forgiven through bankruptcy

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 - Consolidate College Loan Debt

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