Main Subject - Business

If you are a franchisor you will soon find how incredibly dishonest some humans are, as they attempt to hide, conceal or not pay th

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

eir royalties as agreed. Honest men with integrity are so hard to find in this; gimme world. Indeed the most important part of any

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

Examples of combination products may in

ranchise system, especially a rocket ship fast moving entrepreneurial type franchise company is to stay up on cash flow, as there i

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

never enough to do all you want to do. And you cannot stop growing once the rocket ship takes off.

Like all franchisors our compa

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

y was challenged by collecting royalties and getting paid on time, so I decided to implement late payment charges on past due accou

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

Combination pro

nts in order to collect what was owed so we would have the cash flow without depleting all of our initial capital. Below is the pla

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

I instituted and the clause I wrote for our franchise agreement, perhaps this might help enlighten you as to the challenges you wi

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

l face and give your reason to consider your solution to your own issues, whatever they might be in this regard;

7.22 Late Charges

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

On Past Due Amounts

A late charge will be added to any sum Franchisee is to pay to Franchisor under this Agreement that is not rec

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

eived within fifteen (15) calendar days after its due date. The late charge will bear interest at the lower of one and one-half per

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

ent (1 1/2%) per month and the maximum rate permitted under applicable law in the Marketing Area, from the date payment was due to

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

Following aspects would a

he date payment is received by Franchisor.

Franchisor’s acceptance of late charges will not constitute a waiver of the breach crea

dd to the challenges in developing combination products:

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

ed by Franchisee’s non-payment of any amount when due. Notwithstanding the payment of any late charges, Franchisor may exercise any

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

rights or remedies granted by this Franchise Agreement upon Franchisee’s breach or any rights or remedies otherwise granted by law

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

Nothing contained in this Franchise Agreement obligates Franchisor to accept any payments after due or to commit to extend credit

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

to or otherwise finance Franchisee’s operation of the Franchise. Franchisee acknowledge that failure to pay all amounts when due wi

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

Professional from academic institutions, pharmaceutical industries, health care indust

l constitute grounds for termination of this Agreement.

- - - - - - - - - - - - - - -

All franchisors, especially when just s

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

tarting out must never forget that cash is king and that you must make sure to stay up on royalty collection, as many will attempt

.

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

o use all your proprietary information and try to never pay you a dime. If you allow this, then others will follow suit and then if

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

Companies that provide selfless information through particip

you wait to get tough you will end up litigating and paying all the money you collect to lawyers. So, pay attention to this in 2006

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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There are many reasons why an employee can get fired. This article narrows the varied reasons for being fired to ten primary causes across industries.

Technical staff can become your competitors if you’re not careful. Protect yourself and your business from surprises from your technical staff.

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