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Certainly this article is about bankruptcy but I want to tell you up front that you may come across the word 'budgie'. Don't worry, the article is not about birds; I do like budgies though. I use

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

the word 'budgie' or 'budgies' sometimes in place of budgets because a budget is known to get budged and also as it makes me laugh!

Okay, so bankruptcy is a procedure which allows a debtor (someo

; 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 that owes money to someone else) to get a court ordered exemption from his debts. In some cases bankruptcy can act as a valuable method to get rid of debts. But everybody who faces any financial

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

difficulty should not file for bankruptcy.

Is bankruptcy an option in my case?

Tough question really. You'll need to discuss this one with a bankruptcy attorney or a credit counselor as they can

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

determine the benefits and costs for your situation. The kind and amount of debt you have can make a big difference and really you make the final decision in the matter anyway. Know the consequenc

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

Combination pro

s fully before you make your final decision. Many bankruptcy filings could have been prevented with a strict budgie.

What are the substitutes to bankruptcy?

There are numerous choices available

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

ather than filing bankruptcy. What is suitable to you depends largely upon your financial situation. Again, go for financial counseling prior to filing a bankruptcy case to make sure you know the

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

ull ramification of what your about to do.

Here are some possible alternatives to bankruptcy:

Financial Management

It means allotting a nice deal of control, you can employ a financial manager

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

or paying your bills, and to place you under an "allowance" until your financial conditions are back in proper order. This can be especially helpful if your financial problems are a result of bad

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

pending habits. In North America we are told we can have anything we want without paying for it (credit) and that if it's bright and shiny, you probly deserve it so don't restrain, go ahead and ra

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

k up that credit card. Ooopsss..... bit of a rant there but I think you get the idea. For a less encroaching form of management by simply having a financial counselor help you create a budget. Jus

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

Following aspects would a

remember that budgets only work if your super disciplined and don't have problems with buying bright shiny objects (:--).

Give Your Debts A Workout

Financial counselors can be really expensive

dd to the challenges in developing combination products:

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

o choose one wisely if youre going this route. Look for a non-profit counselor in your area. Creditors know it can be hard to collect money whether you declare bankruptcy or not. Know that collect

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

on agencies take large commissions for collecting and litigation can also be expensive, time consuming and forcing debtors to file for the big 'B' doesn't guarantee recovery of debt anyway.

Refin

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

ncing

If you have a home, try to refinance your home to pay debts. By refinancing you can get long term financing at a very low interest rate, which allows you to pay your debts faster. Avoid dea

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

ing with companies that are offering you to combine all debts into single low payment loan, usually they have high interest rates and only want you to pay the interest and not the principle. Consi

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

Professional from academic institutions, pharmaceutical industries, health care indust

er obtaining a loan package only through a known bank or credit unions.

Credit Repair Offers Are Often Scams

Before or after bankruptcy, some companies attract debtors and offer them packages su

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

h as repair bad credit or even promise them to remove a bankruptcy from your credit history. Allot of these offers are fraudulent. There are way's to boost your credit rating but I'll save that fo

.

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

another article.

So to conclude: don't tempt yourself with bright shiny objects and do whatever you have to so you don't spend more each month than what you earn. A well cared for budgie will go

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

Companies that provide selfless information through particip

along way. I trust this to be of some assistance or at least gave you a laugh anyway. Anyhow, don't sweat it; there are more important things in life than money or the lack of it. Have a great day

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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