Main Subject - Business

A 28 year old engineer walked into my office the other day with a question about his personal finances. Joe (not his real name) was 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

e owner of a 2002 Mustang GT which he had finally paid off after five long years of payments. I had helped Joe with his taxes a few wee

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

Examples of combination products may in

ks ago. I had saved him a few bucks and more importantly gained his trust. He really wanted to trade in his Mustang on a new one, but

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

wanted my financial opinion on the matter first. My gut reaction was that it was much more expensive to drive a new car than a used ca

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

r. Being an engineer Joe did not want a “gut” reactions instead he wanted facts. I decided that it would be a fun exercise to run the

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

Combination pro

numbers and find the true cost of the car both for the term of the loan and the long term effect at retirement. We began by defining s

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

me variables.

The cost of the new GT 2dr Convertible (4.6L 8cyl) Mustang according to WWW.Edmunds.com is $31,268 which is a bit expens

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

ive, but the engineer is making good money and loves Mustangs. The trade in value of the existing 2002 GT Mustang is $7,300 according t

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

o Kelley Blue Book. The young man has decent credit and was able to obtain a 9.5% finance rate on the prospective new car purchase. Joe

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

had the choice of buying the new car and trading in his old one or keeping the old car and investing the cost difference. The differenc

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

e he wanted to invest in his favorite mutual fund Fidelity Value Fund (FDVLX) which has a ten year track record return of 12.64%.

He f

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

Following aspects would a

igures that it will cost an extra $80 a month to pay to set aside for the increased repair cost of the used vs. the new car. One final

dd to the challenges in developing combination products:

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

ariable is the full coverage insurance which will be $290 for full coverage as compared to $90 a month for liability only. The value of

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

the $623.37 difference invested in the Fidelity Mutual fund with a rate of return of 12.64% after five years will be $51,778.72. Now a

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

t this point Joe would have a ten year old Mustang worth $4,900 and mutual fund worth $51,778.72 for a net value of $56,678.72 while if

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

he would have purchased the new car it would be worth around $8,000 with no mutual fund.

Joe was stunned he had a choice of being 33 y

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

Professional from academic institutions, pharmaceutical industries, health care indust

ears old in five years with a mutual fund + a 2002 car worth 56,678.72 or just a 2007 car worth $8,000. I asked him if it was worth $48

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

,678.72 dollars in five years to own a new Mustang rather than driving his old one. The answer was obvious he would keep the his Mustan

.

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

. Here is the real shocker if he just kept the $ 51,778.72 in the mutual fund and did not add another dime between 33 and retirement ag

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

Companies that provide selfless information through particip

e of 65 he would have $2,885,514 more than enough to retire on. When I think of these numbers the new car smell does not smell as sweet

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 approximately 35 million Americans that were born in foreign countries. When we compare this with the approximate 285 million Americans across the country we find that approximately 10% of all people living in this country are immigrants. That means foreign languages are a major part of our lives.

Many banks and major corporations have received fruitful revenues as a result of merging, thus providing better products and services to the general population. In America, we want our consumers to have viable choices that enable them to make intelligent and informed decisions.

Interested in saving money on your packaging costs? Find out if using plastic corrugated returnable packaging instead of expendable paper packaging is right for your company!

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