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With the increasing prices due to inflation, sometimes, it is not a good idea anymore to put your money in the bank and let it earn the small interests that

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

are often offered by financial institutions. You can actually keep your own money and invest it in worth while projects that will earn more interests.

But,

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

Examples of combination products may in

there are people who just can not keep their money no matter how much they want to. These are the ones who cannot control their savings and would often go to

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

a shopping spree. If this is the case, then your money is better off with the bank even if it is not earning anything at all.

If however, you are already d

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

ecided on learning on your own. Here are some tips that will hopefully help you in being a banker to your own money. Do not worry, it is real easy and what i

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

Combination pro

s more, you do not have to have a business or finance degree to make it work.

Be committed.

Not using the money that you have earned in buying frivolous th

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

ings takes a lot of discipline. After all, who would not want to have so many beautiful things? Commitment to really save money and to curb spending is perha

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

ps the most important factor in learning to be your own banker.

You must develop the self-discipline to only spend when you need to and to know the differen

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

ce between necessity and luxury. This is not something that is easy to do but in time, one will eventually learn the basics of saving money.

Make records

S

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

aving money does not only involve keeping it in some place safe. You need to be able to keep track of what you are depositing into your self-made account esp

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

ecially if it is some place that is very accessible to people around you.

Keep records of the money that you keep. It is not really so hard. You just need s

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

Following aspects would a

ome logbook or ledger that will help you organize your record. With simple mathematical skills of plus and minus, you are ready to go!

Records are pretty im

dd to the challenges in developing combination products:

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

portant not only in keeping your finances in apple pie order. You will also be able to know just how much you are able to save. This way, you will be able to

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

set target amounts and to psych yourself up to surpass each target.

Do not just keep it. Invest!

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

rget="_blank">Be your own banker does not mean that you will only be letting your money lay stagnant in some drawer in your room. Just l

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

ike with keeping your money in the bank, find ways for your money to earn interests. Invest in some business or worth while project. Lend it to somebody with

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

Professional from academic institutions, pharmaceutical industries, health care indust

interest. Buy some property.

There is really no one road. The main thing is to find ways to make those dollars beget more dollars. That is after all what i

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

s done in banks except that money in a bank earns very little interest. The challenge is of course to find ways to let your money earn more interest.

Be str

.

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

ict

One of the things that make banking so convenient when it comes to saving money is the fact that it is hard to withdraw from it. Although ATM machines m

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

Companies that provide selfless information through particip

ake money more accessible to the public, it does not change the fact that you still have to go to a machine and withdraw. Money is not too available for 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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