Main Subject - Finance

Four thousand years ago, a long time before banks were invented, the concept of accounts receivable financing, or factoring, was invented somewhere in the midst of the Roman

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

Empire. Why did this make merchants happy? Because they would be paid for their merchandise many months before payment for their merchandise was received. With this cash in

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

Examples of combination products may in

hand, suppliers, employees and Imperial taxing authorities could be paid. These financing agreements were based on long term relationships and trust.

Two hundred years ago

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

ccounts receivable financing evolved in the United States of America, primarily for the textile industry, for the same reason: to accelerate growth and profitability by acce

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

erating cash flow. Again, long term relationships and trust were the main basis for these financing arrangements because there was no effective court system to enforce inte

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

Combination pro

national contracts for the purchase of European fabrics for American factories.

Thirty years ago the concept of accounts receivable financing, or factoring, was considered

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

o be on the fringes of respectable financing for products or services other than textiles. It was considered radical to finance the accounts receivable of relatively high ri

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

sk businesses. Since then accounts receivable financing has evolved into a multi-billion dollar industry. Long term relationships and trust are still very important because

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

hen you utilize accounts receivable financing you are entrusting a commercial finance company with the lifeblood of your business- your cash flow.

Let’s make some assumptio

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

s. The purpose of life is to be happy. As a business owner, you are happier if your customers pay immediately when they receive your invoice as opposed to many months later.

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

As a business owner, you are happier if you are more profitable when you are selling more goods or services at greater profits.

Accounts receivable financing may be the ena

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

Following aspects would a

ling tool for more capacity, more flexibility, more fluidity, more efficiency, and more sales if you have to give credit terms to your customers and your internal cash flow,

dd to the challenges in developing combination products:

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

or bank financing will not keep up with you need for cash to grow. So you need to ask yourself, are you happy with the status quo? Do you feel like you are stuck because you

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

capital expenditures and operational costs are too high? In the life of your business, do you feel like you are being held back from succeeding- like receiving the “Do not

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

Pass go, do not Collect $200” card from the game, Monopoly?

Here are some questions to ask yourself regarding overcoming obstacles to your happiness and success: What is yo

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

r market? Is it local, national and/or international? What are your short term and long term challenges? What is your customer base? What is your company sales and distribu

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

Professional from academic institutions, pharmaceutical industries, health care indust

ion strategy? What is your strategy for accelerating growth, market presence and penetration? Do you have strong gross margins with additional opportunities to drive operati

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

g efficiencies as you business scales upward? Will you realize increasing margins as a result of increasing sales? Query: could your business be expanded exponentially if yo

.

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

had virtually unlimited financing? Is this a reasonable goal and would this make you happy?

You need to evaluate the cost-effectiveness of accounts receivable financing ve

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

Companies that provide selfless information through particip

sus the scalability and capability of your own company. Accounts receivable financing may be your solution to the fine art of happiness and your success as a business owner

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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