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If you have bad credit and are desperate for a loan, don’t make the mistake of using a loan shark. Although many people think loan sharks are a

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

fantasy from Hollywood movies, there are many lenders out there that will rip you off and act as a loan shark. If you want to get yourself a loa

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

Examples of combination products may in

but are not sure how to avoid these bad lenders, then here is some advice on how to avoid loan sharks

What is a loan shark?

In essence, a loa

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

n shark is a lender who targets people with bad credit and difficult financial circumstances and offers them loans are extremely high rates. By

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

reying on people who think they cannot get a loan elsewhere, the lender makes large sums of money through the high interest rates. Contracts are

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

Combination pro

usually very unfair and there are harsh penalties if the borrower defaults or misses payment. These so called loan sharks use a variety of tech

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

iques to make money off people unfairly.

Large loan fees

Loan sharks often charge large fees in addition to the interest, which are added to t

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

he total cost of the loan. The borrower is often not told in detail about these charges, and may not notice that they are paying a lot more mone

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

for no reason at all. These fees on predatory loans can be as much as 5% of the total loan amount. Another type of fee often charged is for ear

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

ly payment on the loan. A lot of good loans do not carry these penalties, but loan sharks can charge up to 6 months’ interest for early repaymen

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

.

High interest rates

The loan sharks target people who find it hard to get loans, and so for the ‘convenience’ of allowing them a loan they c

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

Following aspects would a

harge huge interest rates. These rates could be 3 or 4 times more than you might normally pay, and even if you have bad credit there is no need

dd to the challenges in developing combination products:

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

o pay this much. If you look around then you will see that there are competitively priced loans even for people with a poor credit history.

Let

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

ting you borrow too much

Loan sharks are not really bothered about your ability to pay a loan back, because they usually make contracts unfair

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

nd require security so that if you do not pay back, you will lose your home. That is why these lenders will let you borrow more than you can rea

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

lly afford. They are making so much from the fees and interest that if you default and they repossess your property they will still make money.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Avoiding loan sharks

These loan sharks target people who think they cannot get a loan another way. However, even people with poor credit can ge

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

t a legitimate loan with decent rates and no hidden charges. To avoid being the victim of a loan shark, only use reputable companies when gettin

.

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

a loan, and always check the contract you are signing in detail. If you are unsure about a loan or lending company, then contact an independent

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

Companies that provide selfless information through particip

financial adviser. If you shop around and remain aware of the dangers, you won’t become another victim of loan sharks and their predatory loans

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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