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Main Subject - What Makes a Credit Score Rise or Fall?
OUR financial decisions can affect your credit score in surprising ways. Two credit-scoring simulators
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
can help consumers understand the potential impact.
The Fair Isaac Corporation, which puts out the i
The Fair Isaac Corporation, which puts out the i
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
dustry-standard FICO scores, offers the myFICO simulator. A consumer with a score of 707 (considered 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.
od) and three credit cards would be likely to add or lose points from his score by making various fina
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
cial moves. Following are some examples:
By making timely payments on all his accounts over the nex
By making timely payments on all his accounts over the nex
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
month or by paying off a third of the balance on his cards, he could add as many as 20 points.
By
By
ucts have become life saving products for the pharmaceutical companies who doesnt have many innovative molecules in their product pipeline and have been inc
ailing to make this month's payments on his loans, he could lose 75 to 125 points.
By using all of
By using all of
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
the credit available on his three credit cards, he could lose 20 to 70 points.
By getting a fourth
By getting a fourth
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ard, depending on the status of his other debts, he could add or lose up to 10 points.
By consolida
By consolida
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
ing his credit card debt into a new card, also depending on other debts, he could add or lose 15 point
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
.
The other simulator, the What-If, comes from CreditXpert, which designs credit management tools and
The other simulator, the What-If, comes from CreditXpert, which designs credit management tools and
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
puts out its own, similar credit score. A consumer with a score of 727 points (also considered good) w
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
uld be likely to have her score change in the following ways:
Every time she simply applied for a l
Every time she simply applied for a l
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
an, whether a credit card, home mortgage or auto loan, she would lose five points. (An active appetite
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
for credit, credit experts note, is considered a bad sign. For one thing, taking on new loans may mak
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
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
borrowers less likely to repay their current debts.)
By getting a mortgage, she would lose two poi
By getting a mortgage, she would lose two poi
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ts.
By getting an auto loan or a new credit card (assuming that she already has several cards) she
By getting an auto loan or a new credit card (assuming that she already has several cards) she
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ould lose three points.
If her new credit card had a credit limit of $20,000 or more, she would los
If her new credit card had a credit limit of $20,000 or more, she would los
.
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
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
four points, instead of three. (For every $10,000 added to the limit, the score drops a point.)
By
By
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
simultaneously getting a new mortgage, auto loan and credit card, she would lose seven or eight points
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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