Main Subject - Finance

Now that you’ve taken inventory of all the debt you currently have, it’s time to do something about the amount of bad debt you have. You probably had some fun

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

getting into debt, and took your time building that massive portfolio of outstanding accounts; unfortunately, getting out of debt isn’t as enjoyable! You will

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

Examples of combination products may in

owever, start feeling an enormous weight lifting off your shoulders as you start creating a plan to take over the debt monster once and for all- so let’s get st

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

arted!

Lesson Two: Credit Card Debt Elimination

Easing debt anxiety is just around the corner, so close that the debt monster is groaning in despair!

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

Pull out your “bad” debt list from Lesson One. It’s time to play with the credit card companies!

Lower Interest if You Please

One by one, call each of

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

Combination pro

your credit card issuers and try to get them to lower your interest payment. People who have a track record of making their payments on time in the past will h

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

ave a higher success rate at this task, but it never hurts to try and you may be surprised at how much you can save just by asking!

Here is what you could say

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

hen you call your credit card accounts:

You: I just received a credit card offer in the mail that says I could transfer my balances for 5% interest. Your ser

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

ice has been really good and I don’t want to switch credit cards, but even though I’ve been using this card for 4 years, I’m still paying 18% interest. I’m rea

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

lly going to have to switch cards to save some money unless you decide to lower my interest rate.

Credit card company will give you some mumbo jumbo about your

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

rate being the going rate, and maybe put you on hold for awhile as they check over your payment history. When they’re ready to talk to you again, you could fol

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

Following aspects would a

ow up with something like this:

You: It may be a reasonable rate, or 18% may be the going rate, but since this other credit card is offering me 5.9%, I’m goin

dd to the challenges in developing combination products:

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

g to pay a whole lot less by transferring my balance to them. I need you to reduce my interest rate to at least 10%.

The credit card company will probably put

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

ou on hold while the representative checks with their supervisor or whoever is in charge in the mysterious and mystical world of credit card companies, behind t

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

e scenes. They just may come back and say they can lower it to 12% or some other number that’s higher than you requested but lower than what you had been payin

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

g. Accept the new rate and celebrate (but don’t spend very much on your celebration or you’ve wasted your time!)

Developing Your Plan of Attack

You c

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

Professional from academic institutions, pharmaceutical industries, health care indust

n’t expect to bury the debt monster without a solid plan of action as it’s a very strong creature that steals from the Terminator’s famous line, “I’ll be back”;

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

and back the debt will definitely be if you don’t have a plan.

On a new sheet of paper or in a new spreadsheet, rewrite the list so that the accounts that have

.

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 highest interest rate are on the top of the list, with the lower interest accounts at the bottom. This is the order in which the accounts should be paid o

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

Companies that provide selfless information through particip

f, generally. The reason why it is better to pay off higher interest accounts first is because less of your payment is going towards the principal amount owed

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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