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In an effort to overcome the competitive nature of the credit card market, credit lenders are turning to offering reward programs to gain an edge over their competitors. Countless types of reward programs exist,

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

and credit lenders are offering cash back for purchases, airline “frequent flyer” miles, cruises, luggage, and points that can be used to purchase merchandise from specific stores are some of the more popular fo

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

Examples of combination products may in

ms of credit card reward programs.

Often, cards will offer you reward points for every specific amount of money spent using the card. You can accumulate the points, and then when you have enough for the trip or

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 back that you’re “saving” for, you cash them in. The theory of reward points is excellent, it’s like a bonus- you are going to use your credit card to make purchases, so why not earn something for the purch

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

ases you have to make anyway? There are a few loopholes in reward point programs, and some fine details that you should research thoroughly and take into consideration when choosing a credit card based on the re

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

Combination pro

ards programs the lender is offering.

First, the reward points can change in value. It’s similar to a credit card company changing their interest rates- all the lender needs to do is notify the cardholders of t

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

e change and give sufficient notice before the changes take effect. If you are planning to use your reward points for a vacation, or to purchase airline tickets, don’t be surprised if by the time you have enough

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

points to cash in the points don’t have enough value. You’ll need to keep a close watch on each of the “changes in credit card agreement” notices that come in the mail, as the details of your reward points prog

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

ams can be found within them, and if changes are to take effect, you’ll learn about it in those documents. Some card owners are reporting that when they have the required number of reward points to book a flight

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

or take the trip, there is no room on the plane to go! Many people are choosing cards based on their reward points programs, and as enough people are obtaining the points they need to cash in and travel using th

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

m- the planes are often booked a year or more in advance for the trips that can be purchased with reward points.

If you only use your credit card in emergencies, or for small purchases that you pay back immediat

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

Following aspects would a

ely, a card that offers reward points may not be the best option for you. Typically, cards with reward points have an annual fee associated with having the credit card. It is how the credit card lender can prov

dd to the challenges in developing combination products:

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

de the rewards, so you’ll need to consider your spending habits, how much the card will cost you per year, and how much in rewards you think you can accumulate in order to decide if the annual fee associated with

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

the credit card offering the reward points will be beneficial to you. If, on the other hand, you plan to use your credit card for major purchases, or for many purchases, paying the annual fee might still be wort

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

h the amount you can earn in reward points. In order to decide if a reward points program will really “reward” you, you’ll need to spend the time doing the math based on your spending habits.

Another aspect of

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

our credit card usage habits you should consider when you are deciding whether or not to take a credit card that offers a reward points program, is whether or not you tend to carry a balance on your cards from mo

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

Professional from academic institutions, pharmaceutical industries, health care indust

th to month, or whether you typically pay the entire amount on a regular basis. Most credit card lenders that offer reward points programs tend to have a higher interest rate than the cards that do not offer rew

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

ard points programs, so if you keep a balance from month to month, it may not be wise to select a card for the rewards points program because you’ll pay more in interested on your debt. On the other hand, if you

.

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

usually pay off the entire balance of your credit card, you won’t be effected by the higher interest rate and will benefit from the reward points.

Consumer Reports Magazine has a few credit card lenders on their

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

Companies that provide selfless information through particip

suggested credit card list based on the amount of rewards they offer compared to the amount you’ll pay in annual fees and interest rates. These cards include American Express Blue, GM Mastercard, and Disney Visa

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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Any one can criticize, condemn and complain. But it takes character and self-control to be understanding and forgiving. It is also a much smarter way to live. Read about ways that are more effective since they lead to more solutions, improvement and change than any amount of criticism could ever do.

A powerful lesson learned from Katina. Read how a major airline put lives ahead of profit...

Have you ever received a letter that tells you about a product or advises you to buy it? You may have or may have been convinced by the letter. That kind of communication is called a sales letter.

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