Main Subject - Finance

Taking a bigger loan from a single lender in order to pay off the balances on many small loans is called as loan consolidation. People co

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

nsolidate loans for various reasons like to bunch several loans under a single loan lender, to reduce their overall interest rates, or to

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

Examples of combination products may in

dig their way out of debts. Many consumers use this strategy to get rid of high interest loans such as credit card balances, consumer loan

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

s, and cash advances.

Federal loans such as FFELP (Stafford, PLUS and SLS), FISL, Perkins, Health Professional Student Loans, NSL, HEAL,

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

Guaranteed Student Loans and Direct can be considered for consolidated loans.

Loan consolidation helps to reduce monthly payments by conv

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

Combination pro

erting a shorter loan term to a longer term. This extension of terms can vary from 12 to 30 years, depending upon the loan amount. As the

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

monthly installments are reduced, repaying the loan becomes easier for the borrower. It is important to note that, due to extension of loa

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

n terms, the borrower pays more interest in the long run.

Normally, the interest rates on consolidation loans are calculated on the basis

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

on weighted average method on the consolidated loans and are rounded up to the nearest 1/8th of the percent and not more than 8.25%.

Gen

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

erally, it is widely believed that a student loan can be consolidated only once, but that is not true. People can consolidate their loans

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

as many times as they want, as long as the new consolidation loan consists of at least one unconsolidated loan. But one cannot change the

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

Following aspects would a

interest rates on an existing consolidation loan by opting for reconsolidation, as interest rates on consolidation loans are fixed.

The b

dd to the challenges in developing combination products:

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

orrower will have to start repaying the loan within 60 days of disbursement of the new loan. There are some significant advantages in opti

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

ng for loan consolidation. Switching from multiple payments into single payment helps people to get a clear idea of their financial positi

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

on. Lots of alternate repayment plans such as extended repayment, graduated repayment, and income contingent repayment are available. Faci

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

lities to lock the interest rates, including the ability to lock in the lower interest rates during the grace period are available.

There

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

Professional from academic institutions, pharmaceutical industries, health care indust

are also a few shortcomings with loan consolidations. When a borrower consolidates during the grace period, he has to start repayment im

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

mediately and loses the remaining grace period, including possible interest benefits on subsidized loans. The borrower may lose few positi

.

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

ve loan amnesty provisions on Perkins loan, when it is included in the consolidation loan. Perkins loans incorporated in a consolidation l

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

Companies that provide selfless information through particip

oan are in eligible for subsidy, meaning that the federal government will not pay the interest on the loans while the student is studying.

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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