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Digg It - A Real Eye Opener - Learn The Facts About Your Credit Card!
Most people use credit cards, but do they understand the charges involved?
Apparently not. The figures show that 50% of card users only pay th
Apparently not. The figures show that 50% of card users only pay th
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
e minimum balance every month.
A typical scenario may start with you receiving a credit card offer in the mail: borrow up to $2000 and pay onl
A typical scenario may start with you receiving a credit card offer in the mail: borrow up to $2000 and pay onl
; 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
y $40 a month. The interest at 18% ( could easily be higher) but the payment is still only $40 a month. Sounds like a great deal! You've been t
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
inking of buying a new big screen TV for ages, and now you can have it all for only $40 a month. Who COULDN'T afford this, right?
Before you
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
sign that offer and run out to purchase your new TV, let's look at the mathematics and see how long it will take you to pay off this purchase at
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
$40 per month, what you'll end up paying in interest, how long it will take to pay off the balance, and the total amount you'll end up paying f
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
r your $2000 TV.
The minimum monthly payment on most credit cards is usually calculated as a certain percentage (often around 2 percent) of you
The minimum monthly payment on most credit cards is usually calculated as a certain percentage (often around 2 percent) of you
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
r total balance.
Remember, however, that this payment includes interest as well as payments against the principal amount that you borrowed.
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
On the $2000 TV, 2 percent of the balance is $40. At 18 percent interest, your $40 payment would include $30 in interest and only $10 towards th
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
amount you borrowed (18% divided by 360 days = 0.05% per day times 30 days in a month times $2000 outstanding balance equals ?30 in interest).
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
If you pay the minimum balance each month (calculated as 2% of your outstanding balance), it will take you over 30 years to pay off your $2000
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
TV, which will be gone long before it's paid for. What's worse, you'll have paid nearly $5,000 in interest. The $2000 TV will have cost you near
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
y $7000!
To make matters even worse, think of what you would have earned if you had simply put $40 a month into an investment earning a conserv
To make matters even worse, think of what you would have earned if you had simply put $40 a month into an investment earning a conserv
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
ative 8 percent for the same number of years (30). Your ?40 a month would be worth over $60,000 and you would have earned almost $46,000 in inte
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
rest on your investment.
Many people get caught up in credit card offers that are "too good to pass up." The question is: "good for whom?" Cert
Many people get caught up in credit card offers that are "too good to pass up." The question is: "good for whom?" Cert
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
inly not good for you! The example of the TV purchase illustrates the extremely high cost of paying the minimum balance on your credit cards.
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
The Independent on Line 19 Feb 2006 confirms this with their statement:-
“Separate studies reveal that a ?2,000 credit card debt at an APR of
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
15.9, repaid at only the minimum 2 per cent, would take more than 28 years to clear!”
USwitch spokesman Nick White said:-
"Today, there's the
.
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
ossibility that some people could finish off paying their mortgage before their credit cards.”
"While low, affordable minimum monthly repaymen
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
ts are marketed as being a benefit to cardholders, this benefit is a big money-spinner for the banks."
It's a real eye-opener!
So do take care
So do take care
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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