Main Subject - Finance

In addition to giving the facility of limited-time low or zero interest on credit cards, banks also offe

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

r a variety of add-on attractions in a bid to get more of the market. The idea is to have customers swit

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

Examples of combination products may in

ch their balances from other banks to theirs, thereby allowing them to take over their banking ‘portfoli

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

o’. Apart from the low/zero APR feature, the ones that have proved to have the most pulling power in thi

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

s regard are the no-annual-fees feature and low interest/interest free balance switchover.

With regard

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

Combination pro

to the latter feature, the offer to transfer a balance at little or no interest often proves to have a m

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

ajor hidden catch. To illustrate, a bank that offers balance transfers at something like 5% may levy qui

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

te exorbitant charges if the user does not spend a minimum specified amount on the new card. Such a mand

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

atory amount may be as high as $1,000. In other words, the credit card user must first decide whether su

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

ch an amount is likely to be spent before deciding whether the ‘offer’ is feasible and beneficial or not

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

Another add-on feature that attracts customers these days is the cash-back feature, which gives the cu

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

Following aspects would a

stomer a certain ‘kickback’ on money spent via the credit card. These offers are usually in connection w

dd to the challenges in developing combination products:

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

ith specific product brands or providers, such as fuel, grocery outlets, chain stores etc. Again, it mus

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

t be understood that the primary aim here is to generate more revenue for these products and services an

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

d are based on arrangements with the bank for this purpose. The ‘kickback’ is, in most cases, quite insi

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

gnificant – often as little as .25% of the purchase value.

Whether the offers available on any given lo

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

Professional from academic institutions, pharmaceutical industries, health care indust

w interest credit card are actually beneficial to the customer depends on a number of variables. Banks a

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

re in cut-throat competition against each other to get customers for their cards and make a number of of

.

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

fers that eventually are of little or no advantage to the end user. Reading the fine print and having a

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

Companies that provide selfless information through particip

good understanding of one’s own spending pattern is definitely called for before deciding on any of them

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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