Digg It - Finance

Competition among credit card companies is fierce. Each company has to devise new ways to attract potential credit card customers, and this is the reason you’re flooded with credit card offers by email, postal mai

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

l, and even through television commercials, retail stores, and magazine advertisements. One credit card company will claim to offer the lowest interest rate for the longest period of time, while another offers cas

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

Examples of combination products may in

h back rewards on the purchases you make using their card. All of the fabulous offers made by credit cards are designed to help the credit card companies get more business- and not necessarily to help the consum

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

r!

The competition among credit card companies does have its advantages to the average consumer, however! The average person carries a credit card debt of ?1,140 spread out on a number of different credit cards,

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

each with their own interest rates.

The competition between credit card companies has caused many to offer 0% balance transfer rates, hoping to take over your existing debt. Credit card balance transfers are w

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

Combination pro

en you take the outstanding balance from one credit card and move it to another credit card in order to save money on the interest you pay each month on your outstanding balance. Credit card companies often offer

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

0% interest on balance transfers as an introductory offer, so before you apply for a new card to use to transfer your old balances onto- try to find the card with a 0% interest rate for the longest length of time

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

you can qualify for!

There are some instances when transferring a balance to a new card isn’t your wisest choice.

If you apply for a credit card that offers a 0% introductory rate on balance transfers, and they

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

give you a balance transfer limit that is less than the amount of money you need to transfer, it may not be in your best interest to take that card.

For example, lets assume you have an outstanding balance on you

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

r credit card of ?2500, and you're currently paying an interest rate of 12.9%. Assume also that you can only make your minimum payment each month, which is about ?55. You decide to find a credit card to transfer

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

his balance to, hoping to pay less interest so that more of your monthly payment is used to reduce your amount owed rather than just pay on the interest each month, and after doing some research, you find a terrif

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

Following aspects would a

ic credit card offer that has a 9 month, 0% interest rate on all bance transfers! You apply, and will probably get accepted- but what happens when you find out your balance transfers are limited to ?1000? Now you

dd to the challenges in developing combination products:

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

’ve got to decide whether or not it will be financially beneficial for you to transfer ?1000 to the 0% credit card, and keep paying on the ?1500 you still owe on the original card of 12.9% interest, or to cancel t

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

e new card despite the wonderful balance transfer rate, and keep just one card open! In this case, you might decide to keep the card you currently have, making sure to pay your monthly payment on time every month

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

to improve your credit history.

After a few months, you can start looking for a credit card with a 0% balance transfer offer again, and see if you are given a card with a higher balance that can accept your curr

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

nt debt.

If you have a good credit history, your chances of receiving a new credit card with the 0% balance transfer that has enough room to transfer your balance is better. This is the ideal situation, as now yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

u have a single credit card that you are not paying any interest on. Every pound you send is reducing your total amount owed, and you will be able to pay off your debt faster on a credit card with a 0% balance tr

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

ansfer offer.

The best way to pay off this debt is to take the total amount of money you owe divided by the number of months you have the 0% interest rate. This is the amount you should pay every month in order

.

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

o pay off your balance without paying interest. If that amount is more than you are able to pay on a monthly basis, pay what you can (as long as it is at least the minimum amount) and just be sure to take into con

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

Companies that provide selfless information through particip

sideration what will happen once your introductory period is over, and if the interest rate is higher than what you find acceptable, simply look for the next credit card company offering a 0% balance transfer rate

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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