Digg It - Finance

Perhaps you’re on the brink of entering this predicament. Perhaps you’re already months behind on some of your payments. There are a few steps you can take to dig out. First, write out all of your debts, inclu

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

ding payments, balances owed, and interest rates. Include your mortgage or rent and every utility bill – cell phones, gym memberships, cable TV, car insurance, everything. Take inventory of everything you pay

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

Examples of combination products may in

ut.

With everything listed, prioritize which liabilities are the most important. Obviously, mortgage would earn the top spot on your list. Next would likely be your utility bills. Water, electric, and gas are

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

absolute necessities.

After utilities, any car loan you might have would be pretty important, although you can look to reduce this expense. For example, you can sell your car and purchase a less expensive one

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

Hopefully, the new car will also be fuel efficient and less costly to insure.

Once you’ve budgeted for life’s top priorities, it’s time to start cutting the fat. See if there is anything you can cancel witho

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

Combination pro

ut penalty. Gym memberships, cable television subscriptions, magazine subscriptions, and even cell phones are not categorized as bare essentials. You can get television over the air for free. You can work out

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

t home. You can go to the library or browse the bookstores to read magazines. You can get a pre-paid cell phone plan that doesn’t require a monthly commitment. Remember, once your financial affairs are straigh

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

ened out, you can always re-subscribe.

This brings us to your credit cards. It is always important to pay all of your debt on time. However, if you are truly overextended, this may not be possible. If you kno

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

that you need to miss a payment on at least one or two cards, you should be proactive with your creditors.

Call each of your creditors and honestly explain your financial situation. Let them know that you wi

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

ll likely miss your next payment. Don’t make weak excuses. If you have a true hardship, you might find that your creditors might be willing to work with you. After all, it is in their best interest to do so.

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

f you’re already behind, many creditors will arrange a payment plan to help you to catch up. Let them know that you are sincere in your sentiment to bring your account current. Tell them how much you might be

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

Following aspects would a

ble to afford every month. Inform your creditors that you fully intend to catch up. Before you do, however, make sure you know exactly how much you can afford and stick to that number.

Unfortunately, it becom

dd to the challenges in developing combination products:

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

s a game of hardball. Either they have to accept a lower payment, or they accept no payment at all. If they agree to a lower payment, make sure you get the terms of the payment plan in writing. Some companies

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

might charge you interest or penalties “in arrears.” This means that they’ll tack on the missed interest payment at the end of your loan, although this mostly applies to installment loans like car loans and mo

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

tgages.

If your situation is particularly dire, some creditors might allow you to skip a monthly payment or two, although this is rare. If they do offer it for you, be sure to get it in writing. You do not wa

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

t to rely on the word of a customer service rep who might be working in a call center overseas.

Whether looking to request a payment plan, reduced payment, or a skipped payment, be persistent. If you don’t ge

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

Professional from academic institutions, pharmaceutical industries, health care indust

the answer you’re looking for, call again. Most credit card companies are so large that you will never speak with the same person twice. Just because they all work for the same company doesn’t mean they all k

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

now what’s going on with your account. Call center workers have varying degrees of experience and responsibility. You just might get a different answer.

While you’re looking to negotiate with your creditors,

.

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

eep an eye on your credit scores. You want to be able to minimize the damage to your credit. In fact, if you have a little time before you have to miss a payment, get a copy of your credit report to see what y

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

Companies that provide selfless information through particip

ur credit picture looks like. If your score is a little low, look into ways to increase your score in the quickest amount of time. Then, you might be able to secure a debt relief loan to consolidate your debts

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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