Main Subject - Finance

Big and small loans have become quite a commonplace these days. Borrowing money has also become quite frequent with the advent of credit cards. As more and more pe

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

ople are banking on loans and other money borrowing techniques to accomplish their tasks, in order to save themselves from deceit banks and other money lending org

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

Examples of combination products may in

anizations have started enquiring about the individual’s history first.

The information so sought by banks and such organizations is in the form of a credit repor

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

. For any lender/s a credit report is the ideal way to determine a person’s creditworthiness. A credit report is a document that lists the concerned person’s credi

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

t history, employment and residence history. The personal details so mentioned in the report are the details filled by the person in his credit application. The re

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

Combination pro

ort is created and updated using information from banks, traders and other creditors. Credit report also lists any judgments, tax liens, bankruptcies or similar ma

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

tters of public record entered against the individual. In simple terms the report also records the number of times your credit report has been sought whether by a

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

lender, service provider, landlord or employer which remains for up to two years.

Reflecting on a person’s past credit structure, a credit report thus enables a c

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

editor to assess the ability of a person to repay the loan or make timely payments. This makes it easy for him to decide whether the loan is to be sanctioned in fa

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

vor of the person or not.

But the fact is that a credit report can never be made available to any organization without the consent of the person being reported on

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

Moreover there are times when reporting agencies refuse to provide credit reports or investigate credit disputes, saying that they cannot identify the consumers.

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

Following aspects would a

They ask the consumer to mail the copies of ID and utility bills or any other important documentation. Also for men and women in military it is even more difficult

dd to the challenges in developing combination products:

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

to get their own credit reports and many a times when you are overseas, it is just impossible to get that.

Lately it has been seen that access to credit informat

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

on is proving to be a bone of contention for the businesses and consumers. Some big fish in this market such as Equifax, Experian and Trans Union are planning to i

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

ntroduce their own multi-agency credit score to outwit each other.

Every such company aims to make profits by providing accurate and instant credit information to

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

the consumers. But unfortunately most often the results are disastrous in the form of inaccurate credit reports, identity theft and huge fees for credit monitoring

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

Professional from academic institutions, pharmaceutical industries, health care indust

after the consumer’s identity has been made available to thieves.

However a lot of nuances can be prevented if the consumer is cautious. After an individual gets

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

his report, he should study it thoroughly. Anything negative on the report should be corrected right away, like the unpaid bills. Once you have paid the dues, let

.

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

the concerned business notify the credit-reporting agency of it.

The accuracy of the report i.e. opening of any new account, charges you did not make or negligenc

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

Companies that provide selfless information through particip

e or crime you are not responsible for etc. should also be carefully checked. If there is any fault, immediately report the concerned credit report agency about it

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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Numerous studies and articles have recently reported on a key governance gap for many technology companies. Only 14% of technology companies on average have well developed global competitive scanning practices. What expectations of the CEO of a technology company should the Board have with regards to this competitive intelligence issue?

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