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Do you have a credit card? If so, chances are that you are not using the best credit card relating to your situation. Read on to

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

help you choose the best credit card.

For instance, a credit card used for 0% balance transfers will not necessarily be the best c

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

Examples of combination products may in

edit card for regular purchases, or a credit card used to get cash back might actually work out more expensively than a low APR cre

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

dit card.

Let us examine the three major reasons why people use credit cards:

Balance Transfers
It has become commonp

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

ace to switch credit card providers based on the length of the 0% balance transfer deals they offer.

If you have a significant bal

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

Combination pro

ance on your credit card and you plan to pay it off over a number of months or years, then you have to take advantage of the differ

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

nt balance transfer deals on the market.

Purchases
This is the main reason people have credit cards and if you will us

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

e your credit card exclusively for purchases, you need to find a credit card with the lowest APR (interest rate).

Some people migh

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

ask why not take advantage of a 0% purchases credit card deal. Well, it really depends on the normal credit card APR and how long

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

you plan to use the card. What if the 0% purchases deal expire and all of a sudden you have to pay 18% APR when you could have ap

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

lied for a card with no 0% purchases deal, but 12% APR? Which one would you rather have?

Cash Back or Air Miles
This

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

Following aspects would a

ne is quite difficult, as people reason that they are already spending the money on their card, so why not get rewarded for it? We

dd to the challenges in developing combination products:

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

ll, normally these types of credit cards have a fairly high APR.

Let’s use an example: Say you have to choose between two credit

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

ards, one that has a cash back offer and one that does not. Easy choice, right? However, say the cash back card pays you $1 for e

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

very $100 you spend and has an APR of 15.9%. The other “normal” card has an APR of 13.9%. Now the normal card is the best choice,

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

unless you pay off your balance every month and do not pay any interest.

Then you also get all the hybrid credit cards. Some card

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

Professional from academic institutions, pharmaceutical industries, health care indust

s might have 0% balance transfer and 0% purchases deals. Others might have a low APR for the life of balance transfers. This is w

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

ere you need a really good guide to show you all the different factors when considering applying for a credit card.

So when choosi

.

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

ng a credit card, don’t just apply for the first one you come across. Decide what you want to use the credit card for and then che

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

Companies that provide selfless information through particip

k that everything that will impact this usage. Do not let hidden aspects like high APR or default fees make you regret your choice

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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