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Nearly 50% of first marriages and 70% of second marriages end in divorce.

Unfortunately, despite these high statistics, many people are not prepared when divorce comes knocking at the

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

ir doors.

While divorce attorneys are experts at interpreting Family Law, they often don’t excel in the field of finance. For many individuals, the financial ramifications of divorce

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

Examples of combination products may in

remain the most intimidating and potentially devastating aspect of an ending a marriage.

A Certified Divorce Financial Analyst (CDFA) is an expert in examining the financial issues 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.

divorce. They explain the financial aspects and help empower you to make educated decisions through the proceedings.

You don’t have to be a high flying executive with millions of do

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

lars to be concerned. Anyone who owns a home, a retirement account, a 401k, stock options/warrants, investment portfolio, etc. struggles with the question “Will I get my fair share” or

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

Combination pro

“Do I have enough to live off of?"

Here are the some things to consider in safeguarding your finances and to prevent you from making costly mistakes during a divorce.

• Consider Tax

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

Implications: A stock portfolio divided down the middle is not always equal. The embedded gains and losses of the assets should be calculated in determining an equitable division.

•

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

Calculate Total Compensation: Today many individuals are compensated by various means; salary, bonuses, stock options, stock grants, deferred compensation, etc. Be sure to look at e

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

erything in computing total income. Often this number differs by what is stated on the W-2 or tax return.

• Value of Pension Accounts: Taking the account value from the most recent

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

statement from your pension may not always reflect the true assessment. Make sure to have a calculation performed in order to establish the accurate value.

• Keeping the House: Cons

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

der the mortgage payments, the property taxes and the cost of maintaining the home. Will these expenses fall within your budget, or will it leave you house poor? Make this decision b

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

Following aspects would a

sed on a budget analysis, not on your emotions.

• Dividing Retirement Accounts: Before dividing retirement accounts, assess whether or not you need cash because you might be eligible

dd to the challenges in developing combination products:

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

to make an early withdraw from the plan without paying the usual 10% IRS penalty. In addition, make sure a Qualified Domestic Relations Order is completed before the divorce is final

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

zed, otherwise, if your ex-spouse were to die, it may be difficult for you to receive any of the retirement benefits.

• Alimony and/or Child Support Payments: Consider including a li

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

fe insurance policy in your settlement. Life insurance will replace this stream of income if your ex-spouse should die.

Recently, I met a colleague whose divorce was settled five yea

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

s ago. After reviewing his settlement, I recalculated his earnings, using the CDFA’s process, and found his income was grossly overstated due to the calculation methods used by the ju

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

Professional from academic institutions, pharmaceutical industries, health care indust

dge and attorneys involved. In addition, I found that no consideration was made as to the tax implications when dividing the investment portfolio. This action resulted in an inequita

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

le division of assets, when the intent was for it to be a fair “50/50 split”.

There are always multiple solutions to finding an equitable distribution, and by working with an attorney

.

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

and a Certified Divorce Financial Analyst, you will get an objective evaluation on your specific situation. More importantly, this will increase your chances of arriving at a fair se

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

Companies that provide selfless information through particip

tlement that fully addresses your long-term financial needs. You will finally have peace of mind in knowing that you have taken the necessary steps in protecting your financial future

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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Are your customers hearing what they want/need to hear? Business owners often overlook key components to effectively selling products and services to customers. Rather than just telling customers what your business has to offer, you should consider letting them know how your product or service will help improve their lives.

Sometimes it's hard to know if a certain purchase is going to be right or not, but when the merchant is willing to reduce the risk with a guarantee, it makes the sales process a lot less stressful.

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