Advice You - Finance

While I am not proud of it, I managed to rack up more than $50,000 in credit card debt. The saddest thing about it

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

is that, for the most part, I didn't even end up with anything all that great for all the debt I accumulated.

Ther

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

Examples of combination products may in

e isn't a fancy television in my living room, some great sound system, or a wardrobe that would make you jealous. N

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

ope. I mostly just had a series of bills from post-worky happy hour tabs I picked up, dinner dates I paid for, and

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

lot of small bills that were a little larger than they should have been. I didn't ever stop to think about it at t

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

Combination pro

he time, but super-sizing my fast food meal, better seats at the ballgame, and every little charge like that starte

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

d to add up. What was $1 here or 50 cents there eventually turned into thousands of dollars.

Despite having gradua

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

ting first in my class from college, despite completing an MBA from a top program in just one year, and despite hol

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

ing a nice job at a big company that pays me more than $100,000 each year, I managed to rack up more than $50,000 i

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

n credit card debt in seven years.

I am not proud of that. But I am proud of myself for getting out of it.

How di

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

d I do it?

I set my mind to it. I set a budget. I stuck to it.

Obviously, it was somewhat easier for me because I

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

Following aspects would a

had a lot of income coming in. I just needed to start managing it right. That alone made a significant impact.

I

dd to the challenges in developing combination products:

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

lso started to cut my expenses. I moved into a less expensive place. I stopped eating out for dinner and I started

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

bringing my lunch to work. I sold my nearly new SUV with all the options and bought a used Honda Civic that gets tw

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

ice the gas mileage. I started working another job. I stopped using plastic; I pay cash for everything now.

More t

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

han anything, I changed my lifestyle. Now I think before I spend. I have a plan for every dollar b

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

Professional from academic institutions, pharmaceutical industries, health care indust

fore I receive my paycheck. I stopped spending on things I didn't need.

It only took me a year to get out of debt.

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

Now I'm not in debt and I don't plan to be ever again. I have money put away and I live the life I've always dream

.

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

ed of.

You can too. You can get out of debt, no matter how desperate your situation seems to be. Set a budget, sti

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

Companies that provide selfless information through particip

ck to it, and stop overspending. Seek out resources (free ones!) and take advantage of them. Find financial freedom

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/99888/adviceyou-My-Personal-Story-of-Getting-Out-of-Credit-Card-Debt.html">My Personal Story of Getting Out of Credit Card Debt</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/99888/adviceyou-My-Personal-Story-of-Getting-Out-of-Credit-Card-Debt.html]My Personal Story of Getting Out of Credit Card Debt[/url]

Professional Horsemen have big hearts and small bank account balances because they have too many of their own horses in the barn not generating revenue. Profit trots away every day of the month that non-revenue horses occupy stall space.

Interviews are not difficult providing you do the homework. This article tells you how to do it.

Have you received free copies of your credit reports yet? Or, did you pay for them? Watch out as the FTC has authorized only one web site, one phone number, and one mailing address to provide copies of your free credit report to you.

Tags

Links

Advice You - My Personal Story of Getting Out of Credit Card Debt

Related Articles: