Main Subject - Business

Financing a business in Canada has its unique set of challenges. If you are like most business owners you have

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

probably relied on the banking industry to obtain financing. However, obtaining business loans is difficult.

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

Examples of combination products may in

Your business must have years of profitable operation experience in order to qualify. But what if your busines

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

s is new (but growing)? Or, what if you don’t qualify for a business loan but still have a great business?

Yo

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

have two options, and they are not available from your bank. They are available from a factoring company. Do

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

Combination pro

you have one of these two problems?

Problem: Your clients take up to 60 days to pay. You need payment fast

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

er!
Waiting up to 60 days (or sometimes more) to get paid can be very challenging for a business owne

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

. Especially if you have regular expenses, such as salaries, rent and suppliers that must be paid. The solutio

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

n to this challenge is to factor your slow paying invoices. Factoring (also known as invoice discounting) allo

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

ws you accelerate client payments, reducing the 60 day wait to 2 days. It’s very easy to obtain and the main r

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

quirement is that you do business with good commercial or government clients.

Problem: Your client just pl

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

Following aspects would a

aced a large order. You need money to pay suppliers.
If you are a distributor, wholesaler or reseller

dd to the challenges in developing combination products:

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

, then you have a unique set of challenges. You have suppliers that need to be paid quickly and clients that w

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

ant to pay slowly, leaving you trapped in the middle. The solution for this challenge is purchase order financ

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

ng. Purchase order financing covers up to 100% of your supplier payments, enabling you to deliver the goods an

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

d close the sale. With purchase order financing you can accept big orders with confidence, knowing that you’ll

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

Professional from academic institutions, pharmaceutical industries, health care indust

be able to deliver.

Is factoring or purchase order financing for you?
These financing products w

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

rk great if you meet two very important criteria. First, your profit margins must be above 10%, and ideally cl

.

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

oser to 20% (or more) Second, you must do business with reputable commercial clients or the government. If yo

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

Companies that provide selfless information through particip

u meet these two criteria, then these products should help you grow your company and take it to the next level

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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Everyone loves to be appreciated, and when that thanks is expressed with a gift, you'll make extra points with the gift recipient. Corporate gifts are often thought of as expensive, one-of-a-kind executive style gifts that your company sends out at holidays, but there's another level of corporate gift-giving that can mark you and your firm as a thoughtful, appreciative company with whom to do business.

There is a major restructuring of American industry under way and, so far, the traditional labor union is not a part of it. Unless there is reform in labor legislation that protects individual and national freedoms, unionism may become a one-lifetime phenomenon. Let us hope not. We need responsible labor unions.

Asian nations like China, Singapore, and South Korea should be given a bigger right of speech and participation in the upcoming International Monetary Fund or IMF conference. Goh Chok Tong, Singapore Senior Minister said that his country as well as other nations in Asia must have a larger participation in the decisions of IMF since the Asian region is earning worth as far as the global trade and international economy are concerned.

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