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Digg It - Will You Select a MasterCard or a Visa Credit Card?
This question is almost as tough as deciding between Coke and Pepsi. Visa and Mastercard have been battling each other since the 1960s;
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
however, it was American Express that really started the credit wars between the giants during the early 1960s. Amex, as it fondly came
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
o be known, quickly became the preferred card of choice for most credit card users across the world.
The Visa Credit Card
The Visa Credit Card
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
First known as Bank Americard when it was launched by the Bank of America in 1959, it was re-christened as Visa after almost two decades
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
Now, it is used by more than 21 thousand organizations around the world. In Europe, Visa has always been more popular than MasterCard o
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
Amex. Consider these statistics:
- More than 5,000 organizations worldwide use the Visa card
- Visa Europe has issued i
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
n excess of 100 million credit cards
During the last year Visa Europe consumers spent more than 700 billion Euros
Of
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
this amount, UK Visa users spent almost 130 billion Euros
To combat internet fraud, the Verified by Visa program asks users
To combat internet fraud, the Verified by Visa program asks users
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
or a password if they wish to make an ecommerce transaction on a website. This gives it a clear edge over MasterCard.
MasterCard
MasterCard
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
It was designated as a rival to the predecessor of the Visa card, Bank Americard. MasterCard was born towards the end of the 1960s
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
when a group of bankers in California fathered the Western States Bankcard Association. This was re-christened MasterCard at approximat
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ly the same time that Visa was renamed. Until about a decade ago, MasterCard was the unchallenged leader in the US. Even now, with growi
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ng competition, MasterCard is used in more than 25 million locations across the globe surpassing other cards.
You can get a Ma
You can get a Ma
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
terCard in World, Platinum, Gold, as well as Standard formats and its SecureCode program offers a code which helps prevent the card from
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
being abused online. Even so, the verification process is not as secure or as well-liked as Visa’s is.
MasterCard or Visa?
MasterCard or Visa?
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
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
Most merchant establishments accepted both the Visa and the MasterCard. However, there are clear loyalists for both cards. Whi
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
e MasterCard is more popular all over the world, Visa is quickly catching up primarily due to its secure verification processes online.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
o most consumers prefer to keep one card from each company and use each card according to their individual requirements. Which one is mo
.
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
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
re popular is anyone’s guess. While each card has its own merits, the safest statistic to believe is that while half a dozen people pref
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
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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