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The following list some information on retirement that should be helpful to employees of all ages.

1. RETIREMENT AGE

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

> One's full retirement age varies but one can start receiving benefits at age 62 regardless of that. Full details can

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

Examples of combination products may in

e found at Social Security Online Retirement Planner (http://www.ssa.gov/).

2. COST OF LIVING
Note the basic expen

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

es you will continue to shell out regularly after retirement. Note also the probable expenses that might come up once yo

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

retire, like taxes and insurance for example. List needed or desired purchases that would come up by that time, like a

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

Combination pro

vacation house. Knowing these probable costs now gives you the basic amount you should be able to save before retiremen

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

day comes.

3. RETIREMENT BENEFITS
a. SOCIAL SECURITY
www.SocialSecurity.org can provide you with an estimate

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

Getting an estimate of your retirement benefits will help you as you plan how much of your income should be set aside f

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

r retirement savings and or how much of your income should be used for other investments.

b. PENSION PLANS.
Here, a

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

monthly premium is paid for a specified time frame. With pension plans you can know how much you'd be receiving when th

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

plan matures. Some companies get pension plans for their employees. But for those who don't, the employee can either re

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

Following aspects would a

uest it or he himself can secure his own pension plan from a pre-need company.

4. INVESTMENT OPTIONS
a. SHORT TERM

dd to the challenges in developing combination products:

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

INVESTMENTS.
Examples of these are bank deposits. You can save small amounts of money plus you have security because

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

these deposits are insured.

b. LONG TERM INVESTMENTS.
Examples of these are stocks and bonds. You can save larger

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

mounts of money here. These investments however, are not insured.

5. LIFE AFTER RETIREMENT
It helps to know now ho

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

your living conditions will be after you retire. This helps you set a targeted amount of total savings in order to achi

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

Professional from academic institutions, pharmaceutical industries, health care indust

ve that lifestyle you plan to have in the future.

Would you be taking it easy by that time? Then you must start plannin

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

g and saving much now. Would you be seeking other employment opportunities? That would mean additional funds for you. Wo

.

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

ld you want to have a fixed source of income after retiring? Then plan and save up for an affordable real estate investm

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

Companies that provide selfless information through particip

nt now.

Yes, retirement comes later. But retirement planning is not for the old, it’s for the young. Start planning now

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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