Main Subject - Finance

Maybe you’re looking to get your first credit card or shopping around for a new one. Before you lock yourself into a particular credit card make s

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

ure you get the answers to these questions first!

1. What is the interest rate?

Make sure you find out what the interest rate will be for the cre

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

Examples of combination products may in

dit card you’re considering. The lower your interest rate the better it is for you if there is a balance on your credit card. So find out this in

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

formation up front. If the interest rate quoted is higher, keep looking for a credit card company that will give you a good rate. Of course, the

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

key to getting a lower interest rate is your overall credit.

By the way, beware of teaser low introductory rates that a prospective creditor may

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

Combination pro

offer you to sign up for their credit card. Make sure to ask them if you will continue to get this low rate for a long period of time and not fo

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

r just a month or two. You will find that if you get reeled into getting a credit card with a low introductory rate, your interest rate may increa

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

se significantly later!

2. How will my credit card balance be calculated?

Most creditors use an average daily balance to arrive at the balance

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

for your credit card. This would include any new purchases charged to the credit card less payments and credits applied.

3. If I pay late on my

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

credit card is there a charge and if so how much?

It is important to find out if your credit card company will charge you a late fee and if so how

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

much? You could pay up to $20 or more in late fees if they are applied to your credit card balance. Some credit card companies may charge you a l

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

Following aspects would a

ate fee even if your payment arrives the day the payment is due but the wrong time of the day when payments are posted. Your interest rate could a

dd to the challenges in developing combination products:

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

lso be increased if your payment is received late. This interest rate increase could be substantial if you carry a balance on your credit card.

4

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

. Could you give me a better interest rate?

Find out if the credit card company will give you a better interest rate than the initial rate quote

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

d. Let them know you’ve been shopping around and will consider going with the company that provides you with the lowest interest rate.

5. Will

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

I be charged more interest if I don’t use my credit card?

If you only want to use your credit card for emergencies or certain types of purchases

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

Professional from academic institutions, pharmaceutical industries, health care indust

and don’t intend on using your card often, you’ll need the answer to this question. Some credit card companies may increase your interest rate, cha

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

rge you a fee or cancel your credit card if you don’t use their card very often or at all! If this is the case, you don’t need this credit card.

.

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

Do your research before you apply for that credit card and make sure that this card is beneficial to you! If it isn’t, then you don’t need to apply

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

Companies that provide selfless information through particip

for that particular credit card. Remember there’s lots of competition from prospective credit card companies for your business, make them earn 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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Main Subject - Thinking About Getting A Credit Card? Consider Asking These Questions Before You Commit Yourself!

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