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Digg It - What to Expect from Finance Advisors
From time to time, all of us need to get some outside counseling on how to handle our finances in general, or to deal
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
with a particular financial issue that has come up. But where do we go when these situations arise, and how can we
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
evaluate the quality of the advice that we are receiving? Here are some tips to help you select finance advisors tha
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
will steer you in the right direction.
One of the first signs of really good finance advisors is that they will ask
One of the first signs of really good finance advisors is that they will ask
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
questions - a lot of them. You want to be wary of someone who attempts to cut your off and give you a textbook answ
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
r to your query in twenty five words or less. Advisors who have the best interests in mind for the people they couns
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
el will want to explore in more detail what is happening in general with the person's finances, rather than handing o
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
ut a canned response and then rushing off to meet the next person. While you may find it odd that your advisor asks
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
uestions about your work and what your family likes to do in the way of recreation, remember that the idea is to unde
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
rstand how your family makes money and spends it normally. Armed with that background, the advisor can supply possib
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e options for you that might have never come up otherwise.
Along with asking questions, good finance advisors know h
Along with asking questions, good finance advisors know h
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ow to listen to the responses. By stepping back and letting you talk, your advisor is also providing you with a chan
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ce to work out solutions in your own head as you articulate the circumstances surrounding the financial issue. Being
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
a good advisor means being a bit of a psychologist and not just providing you with road maps of things to do. A larg
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
e part of it is listening to what you say, asking clarifying questions, and getting you to do some thinking on your o
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
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
n. Often, a good advisor is more of a facilitator, helping clients discover their own answers and then providing som
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
e constructive counsel on how to proceed.
Finding finance advisors that will work for you may be as simple as talkin
Finding finance advisors that will work for you may be as simple as talkin
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
g with a trusted friend, or scheduling an appointment with your banker. In other instances, you may want to speak wi
.
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
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
h an organization that provides financial counseling at little or no charge to people who need some assistance in dea
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ling with a sticky financial issue. Check around your community and see what types of resources are available to you
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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