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People, who are not able to pay their creditors back due to lack of resources, file for personal bankruptcy. After being

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

declared legally bankrupt, a person's financial record becomes public, which means that anyone who wants to know about

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

Examples of combination products may in

the financial status of the person are provided access to those records.

Although a bankrupt person is absolved from pa

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

st financial burdens, the financial future of that person can become bleak. This is because the individual will get a ba

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

d credit rating and will be unable to secure any type of loan at a low rate of interest. In a market heavily dependent o

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

Combination pro

n credit ratings, a bad credit report can make an indelible mark on an individual's financial reputation thus impacting

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

the financial plans that he or she may have for the future.

Negative information in a person's credit report such as ba

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

nkruptcy can only be erased by the passage of time. A consumer reporting company can report very accurate and precise ba

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

nkruptcy information for 10 years after the bankruptcy is filed. Even if a person files for bankruptcy and dismisses it

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

before it is discharged, the credit report of that person will mention that he or she has filed for bankruptcy.

However

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

this does not mean that a bankrupt person can never get loans again. It only means that the interest charged on credit

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

Following aspects would a

cards and loans will be higher than what a person with good credit ratings can get. There are many steps that individual

dd to the challenges in developing combination products:

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

s who have filed for bankruptcy can take in order to improve their credit rating. It is important to obtain a copy of th

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

e credit report from reporting companies such as, Experian, Transunion and Equifax and review them carefully for inaccur

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

acies or mistakes. If there are mistakes, then the agencies have 30 days to investigate and correct the alleged mistake

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

If there are no errors in a person?s credit report after filing for bankruptcy, then the credit rating can be improved

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

Professional from academic institutions, pharmaceutical industries, health care indust

by starting to build a good reputation taking steps like using only the secured credit card which is issued after bankru

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

ptcy, using the card to make small transactions and ensuring timely credit card payments. Bankrupt individuals should al

.

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

so discharge any student, car or mortgage on time. A bad credit rating cannot improve overnight. It takes a lot of hones

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

Companies that provide selfless information through particip

ty and care on the part of the bankrupt person and will slowly but surely improve if the steps mentioned above are taken

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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