Main Subject - Finance

All technological marvels have their drawbacks and this is true of credit cards too. One form of credit card f

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

raud is skimming or making copies of information stored on credit cards. Every time your credit card leaves yo

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

Examples of combination products may in

r hands, it becomes vulnerable to skimming.

Skimming In Public Places

Skimming usually takes place in a reta

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

l store, restaurant or a shop. A dishonest waiter or cashier may swipe your credit card for payment and then s

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

ipe it again with a skimmer. This is a small pager-sized device with a slot, which can be easily purchased ove

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

Combination pro

the Internet. It rapidly records the information stored on the credit card’s magnetic strip. This information

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

is passed onto thieves who paste it onto counterfeit credit cards. Your money is now in their hands. The only

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

ay to prevent this is to keep a close watch on your credit card.

Skimming also takes place at ATMs, especiall

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

in less-supervised non-bank areas like malls. They are set up for skimming before your arrival. It could be a

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

plastic sheet inserted inside the slot, which prevents the machine from reading your card. A small camera fitt

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

d on the ATM records your PIN number while you try repeatedly to access your account. You leave believing that

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

Following aspects would a

the ATM has swallowed your card. The thief turns up and takes your card and the camera. He can now withdraw l

dd to the challenges in developing combination products:

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

rge amounts from your account.

A superior technique allows you to withdraw cash but a camera records your PIN

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

number while a skimmer inside the ATM reads your credit card.

How To Avoid Skimming

To reduce skimming-relat

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

d risks, simply walk away if you find anything suspicious about the ATM. If the machine swallows your card, re

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

ort it immediately.

Apart from these measures, always check your credit card statements carefully for surpris

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

Professional from academic institutions, pharmaceutical industries, health care indust

purchases. Keep low credit limits to minimize losses. Tear up all receipts, slips and statements after using

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

them, preferably with a shredder. Credit card companies are also vigilant. They usually ring up customers imme

.

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

iately if they find unusual purchasing patterns. Newer technologies in credit cards and ATM machines also make

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

Companies that provide selfless information through particip

skimming impossible. However, the changes are not yet universal. Till then, keep your eyes on your credit card

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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