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So now that the New Year's eve parties are over the holiday bills are going to start showing up in our mail. Did you try to follow the holiday shopping tips and not c

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

harge your gift purchases? If you are like most Americans than the holiday resolution to pay cash for all your gifts never made it past the "good intentions" phase an

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

Examples of combination products may in

you're now faced with, on average, an additional $2,000 in holiday credit card debt.

The good news is that with the right plan you can get out from under that credit

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

card debt with only a little bit of extra budgeting work. The plan should include all your income and debts with priorities on each.

Step 1

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

e a list of all your bills and categorize them. I suggest you use a different folder for each type of bill: one for credit cards, one for medical, mortgage, bank stat

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

Combination pro

ments, etc... You can use anything from individual files in a filing cabinet to just using separate envelopes in a drawer.

Step 2

Create a

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

monthly budget by first determing your monthly income and recurring expenses. Make sure to use your take home income and not your "gross income." You should also pr

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

oritize your expenses based on your needs versus wants. Basic needs include your rent/mortgage, utility bills, food and transportation. These types of expenses shoul

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

d be paid first for obvious reasons and should come before things like clothing, gifts and weekend trips. Now once the spending plan is done you will either see that

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

ou've got some money left over to pay down your debts and increase your savings or you'll find that things are tighter than you thought. If you don't have anything le

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

t over I recommend you contact a professional financial counselor so that they can go through a complete budgeting process with you. They can also recommend ways to g

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

Following aspects would a

et you out of debt and even help you with a debt management plan.

Step 3

If you find that you've got some money left at the end of the budg

dd to the challenges in developing combination products:

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

t exercise than you should divide those funds between debt reduction and savings. You should start by paying down high interest credit card bills and loans which will

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

save you money over time. You should also sock some money aside from unplanned emergency expenses. This emergency fund can help you stay out of credit card debt in

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

ase something unexpected occurs.

You should always be on the lookout for signs of debt trouble. If you are falling behind on the important things like January's

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

mortgage or your rent; maybe you've started to use your credit card on things you should be using cash for like groceries. If you end up skipping some debt payments i

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

Professional from academic institutions, pharmaceutical industries, health care indust

n order to make others then you are starting to enter that debt spiral. Remember that if these things are occuring you don't have to suffer alone. It is a common pro

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

lem that you can find help for. Don't be ashamed to talk to your creditors and explain your situation. In many cases they will work with you as they would rather kee

.

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

p you as a customer than to lose you to financial troubles. You can also review other options such as credit counse

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

Companies that provide selfless information through particip

ing and debt management. There are solutions AND people that can help.

With the right planning and help everyone can have a happy and financially secure new year

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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