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It's hard to imagine doing business today without credit cards. If you are 1 of the few who do not own a credit card, you probably have difficulty renti

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

ng a car or reserving a hotel room. On the other hand, if you have a fistful of maxed out credit cards and want a new one, you have a whole new adventur

; 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 ahead of you, too.

Let's start with the basics.

What Is A Credit Card?

The dictionary defines a credit card as: "A card which can be used to obtain

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

cash, goods or services up to a stipulated credit limit. The supplier is later paid by the credit card company, which in due course is reimbursed by the

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

credit card holder, who will be charged interest at the end of the credit period if money is still owing."

In other words, whatever you charge to your

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

Combination pro

credit card has to be paid back within the credit cycle, or an interest amount will be applied to the remaining balance. Sometimes, lots and lots of in

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

erest.

Pros and Cons of Credit Cards

The obvious advantage to using a credit card is that it allows you to purchase goods or services that you might n

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

ot be able to pay for immediately. The credit cycle of most cards is usually about 30 days, and if the money is paid back in that amount of time, there

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

is no interest owed. This sounds good in theory, just like an interest-free loan. But the bottom line is that most folks don't pay off their balances on

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

a monthly basis. This is where the disadvantages come into play.

Any amount that isn't paid off within the monthly cycle will be subjected to an intere

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

st charge. Depending upon your balance and the rate charged by the specific card issuer, that amount of interest could be huge. On top of that, many peo

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

Following aspects would a

ple will continue to charge things to their card, and the balance and interest keeps growing until they have no hope of ever paying off the card by only

dd to the challenges in developing combination products:

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

make the minimum payment. This is a very common scenario, and most of us know someone who has been in this situation.

The Rewards of Good Credit

Chanc

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

es are that every few days you get a pre-approved credit card application in the mail. Sounds easy, doesn't it? Well, before you accept this generous of

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

fer, read the fine print. You'll see that many of these promotions come with hidden penalties in the guise of high interest rates and annual fees.

If y

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

u want to get the best possible interest rate with no additional fees, you’ll need to give the credit companies what they’re looking for in your credit

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

Professional from academic institutions, pharmaceutical industries, health care indust

history. They will check to see that you are responsible with your credit and that you have paid your bills in a timely manner. These signs of stability

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

and credit responsibility will encourage the card company to reduce the amount of interest they will charge you. Outstanding loans with late payments a

.

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

d too much available credit will work against you.

Although credit cards can be great for emergencies, they can easily get out of hand. Before you appl

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

Companies that provide selfless information through particip

y for one, decide in advance what you plan to use it for. If used with discretion, credit cards can give you added economic flexibility and buying power

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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