Top Articles - Finance

Although this is based on a more personal note, I wanted to write about debt. Debt is something that a lot of us have and a lot of

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

us suffer with. Debt is a word that most of us cringe over and wish to forget about… unfortunately it’s not something we can run

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

Examples of combination products may in

from. It follows us until it is paid off and even then, the fear of going back into debt looms over us like a black cloud.

I want

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

to share my story. I never thought I’d be sharing this on a public forum but I think I have some great ideas on how to get out of

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

debt so I feel like I need to set the stage first. A few years ago I was in over my head in debt. I was working as an administrati

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

Combination pro

e assistant making very little in terms of a salary. Combine that with only getting paid once a month and I started down the terri

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

ble road of debt. I opened one credit card, then another and then a third… I had a student line of credit from college that I coul

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

dn’t get paid down… I purchased a brand new car that I couldn’t really afford and worst of all, I had no savings.

I was one pa

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

check away from bankruptcy.

So, I did what my logical brain told me to do. I set up a plan. I created a spreadsheet that list

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

ed every single thing I needed to pay for each month and then I listed out the pay periods. Every time I would get paid, I would o

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

en up my spreadsheet, cross off the items I had paid and then use the rest for my “fun” money. I did this for four years.

During

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

Following aspects would a

those four years, I moved up in my career which provided me with extra income. Every time my income would rise, I would add that t

dd to the challenges in developing combination products:

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

o my spreadsheet and increase the payments on the items I was trying to pay off. Within those four years, I paid off my debt and b

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

gan saving money in an RRSP. Now, I am debt-free and have the freedom to save for the things I want - vacation, a new home, etc.

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

So, how did I do it?

(1) I set a plan for myself which mapped out my income and my spending. I then stuck to this plan.

(

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

) I took the steps to advance in my career which then increased my income levels and helped me to pay more on my debts.

(3

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

Professional from academic institutions, pharmaceutical industries, health care indust

) I paid the items with the higher interest rates first.

(4) I never missed a payment and I always paid a little mo

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

re than what was required. For example, if my credit card payment asked for $98 I would pay $118 or $128.

(5) I believed in my

.

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

elf.

So why am I sharing this? I think there are many, many people who are in debt and may be in denial over it or may not kn

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

Companies that provide selfless information through particip

ow how to “attack” it. I hope this helps in some way… Getting yourself debt-free provides more freedom than you could ever imagine

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.toparticles.org.ua/article/100090/toparticles-Debt-A-Plan-to-Be-Free.html">Debt... A Plan to Be Free</a>

BB link (for phorums):
[url=http://www.toparticles.org.ua/article/100090/toparticles-Debt-A-Plan-to-Be-Free.html]Debt... A Plan to Be Free[/url]

With all of the pressures that come with starting up a new business it is easy to get overwhelmed. Which many people face is a long list of tasks that need to be dealt with. Keeping yourself and your company organized can be a tall task with everything you have to face.

Universal Property Development and Acquisition Company is buying and leasing U.S. properties with proven oil reserves, applying state-of-the-art technology, and pumping out sought-after oil and natural gas. UPDA's investors are excited about their excellent return on investment.

1. Sell more back end products to your existing customer base. You already created rapport, trust and proved your credibility to them. 2. Make it a practice to up sell to new and existing customers....

Tags

Links

Top Articles - Debt... A Plan to Be Free

Related Articles: