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More and more, I hear brand new truck drivers contemplating the lease purchase programs many companies are now advocating. It never ceases to amaze me how these companies wil

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

l target new drivers. Swift Transportation and Prime Trucking are two of the most aggressive lease purchase companies out there, but it seems all of the companies have jumped

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

Examples of combination products may in

on the band wagon.

After all, why wouldn't a trucking company want to pass along the costs of fuel, purchasing a truck, truck maintenance, truck insurance, permits and healt

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

h insurance? Not to mention, they no longer are expected to provide a 401k plan with company match. And they get to charge the driver much higher prices than market value for

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

a truck that won't be worth much at the end of the lease.

I have heard of drivers buying a used, plain-jane Freightliner century or classic through lease purchase programs a

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

Combination pro

d paying in the range of $700 per week. That's $2,800 per month. If you talk to owners of big bunks (the large custom sleepers with showers, toilets, and bells and whistles t

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

he average truck driver would never think of), they're paying the same per month- and that's with very little down. Keep in mind, there's a huge difference between a brand ne

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

big bunk and a late model truck with a factory sleeper.

Here are some things to think about when contemplating a lease purchase agreement:

1. Trucking is unpredictable. If

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

you don't have the cash or credit to buy a truck on your own, what makes you think you will be able to float through the rough times? Accidents, injuries and illnesses happen

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

. And when they do, you're payments won't stop to wait for you. Trucking companies are in the business of making money, not providing charity.

2. You don't own your truck. I

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

you're leasing your truck from a company, THEY own it- which means you can't leave. It means that no matter what they do to you- drop your miles, load around you, lie to you

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

Following aspects would a

charge you more and more for "incidentals"- you can't just leave. If you get a loan from the bank, you can change your company. If you get a loan from the company, you can't

dd to the challenges in developing combination products:

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

.

3. You are signing a contract. You need to understand the terms of the agreement. If you get screwed, it's your own fault. You cannot trust what the company rep tells you

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

o your face- if it's not in writing, it just doesn't count. Always, always, always have a lawyer review the contract and explain to you the upside and the downside. If you've

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

already signed, still take it to a lawyer so that you know your options.

4. Others have been there. Talk to owner operators and ask about the lease purchase deals. You 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

find that a lot of them started out with one and learned about them the hard way. Many of them were unable to complete the lease. Many of them completed the lease only to fin

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

Professional from academic institutions, pharmaceutical industries, health care indust

they had worked like dogs to buy a truck that now had a million miles and no value. Learn from their mistakes.

5. These companies tend to target new drivers. Why? Because n

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

w drivers simply don't know better. If you haven't been in the industry for at least a few years (and spent those years asking a lot of questions of a lot of drivers) you jus

.

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

t don't know enough about trucking to make an educated decision.

Trucking is about making your own road. But, as those of us who have been trucking for years all know, somet

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

Companies that provide selfless information through particip

mes the road you choose turns into treacherous route. Make your choices carefully-they make the difference between a prosperous trucking career and a transportation nightmare

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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Often our planning - at best - is done because of a crisis facing us. But one of the outcomes of good planning is that it actually reduces crises. By making planning a primary activity, it's possible to bring calm out of the chaos in our lives or businesses.

The essence of the double entry accounting system is the analysis of each transaction in terms of the basic accounting equation: assets = liabilities + owner's equity. Many smaller undertakings and organisations maintain only minimal accounting records and do not have a system whereby transactions may be analysed and recorded within the framework of the double entry system, often referred to as a single entry accounting system.

This isn't your grandmother's Six Sigma anymore! Not just for manufacturing, Six Sigma has been integrated into all sectors of industry today.

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