Advice You - Finance

Many of those facing serious debt consider filing for bankruptcy. However, the decision to do so should not be

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

taken lightly as there are a number of disadvantages associated with going bankrupt. This article examines why

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

Examples of combination products may in

bankruptcy should be avoided and discusses possible alternatives to it.

It is easy to see why so many people g

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 into debt when you consider how easy it is to borrow money via loans and credit cards. All too soon you are r

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

eceiving threatening letters and stressing about how to pay off your debts. It is at this point that many peopl

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

Combination pro

think about filing for bankruptcy.

However, contrary to popular belief, being declared bankrupt does not mean

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

that you do not have to re-pay your debts. It just enables the courts to get involved and creates a schedule f

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

r re-payment. Plus it opens the door to all sorts of penalties and disadvantages.

For instance, bankrupts risk

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

losing their homes, are typically not able to get credit, they have to relinquish their credit cards to the co

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

rts and their bank accounts are closed.

For those who own businesses, their companies will typically be forced

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

to close and dismiss their employees. Whilst moving forward, they are not allowed to have anything to do with

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

Following aspects would a

forming, managing or promoting a company without the court’s permission in the future.

For many people the soc

dd to the challenges in developing combination products:

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

al stigma associated with bankruptcy is one of its biggest disadvantages. Bankruptcies cannot be kept quiet as

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

they are announced in the local papers.

The good thing is that in 1986 the government introduced a legitimate

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

lternative to bankruptcy that does not have any of the disadvantages associated with it. This alternative is kn

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

own as an Individual Voluntary Arrangement (IVA).

IVAs are private and legally binding agreements between debt

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

Professional from academic institutions, pharmaceutical industries, health care indust

rs and creditors whereby the debtor proposes to pay back a certain amount of his/her debt each month, typically

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

over a 5 year period. This amount is based on what the debtor can afford and can be as little as ?200 a month

.

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

In return the creditors write off a percentage of the debt (up to 80%) and freeze interest on it whilst the IV

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

Companies that provide selfless information through particip

A is in place. After five years, if the terms of the IVA have been adhered to, the debtor is declared debt free

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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Today’s business-to-business, products and services, dealer/distributor can unfortunately by seen by many as simply a commodity - easily replaced by another. If you allow your customers to have that perception of you, it is your own fault. But why might so many people think you are simply a commodity? It is because you have not provided any value to your clients beyond that which your competitor delivers. It’s time for your creativity to kick in. It is time to do something different.

If you think about it, every human being is a good sales person ... they just aren't aware they have this hidden talent.

Is it possible to make a living from the internet? Yes, you can earn a lot of money just selling other people's stuff online, which known as affiliate marketing.

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Advice You - A Legitimate Alternative to Bankruptcy

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