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Being in debt is no fun, especially if you are struggling to make ends meet. Because debt is a complex issue but there may be more than one solution. This article will outlines 12 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

ommon methods use by most of debtors to get rid of their debts. Among these 12 debt solutions, there may be one or more options which you can use to solve your financial problem.

2

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

Examples of combination products may in

of the 12 methods: Self Repayment Plan and Debt Settlement had been discussed in part 1, let looks at the other 2 methods in this part 2: Debt Consolidation and Debt Consolidation

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

Loan.

Debt Consolidation

Debt consolidation is a debt reduction process that allows you to combine your assorted unsecured debts into one payment. Instead

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

of sending out payments on six or seven banks and store credit cards, for instance, you would make one payment to the debt consolidation company and that company would then disperse

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

Combination pro

the funds for you.

In the process of debt consolidation, the debt consolidation company will also help you to negotiate with your creditors to reduce your debt amount, sometimes b

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

y as much as 30% to 60%. In most cases interest rates are reduced. Late fees and hidden taxes are also waived at times. The revised consolidated debt amount is divided into easy mon

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

thly installments that make your repayment plans much easier.

Although both debt settlement (the method discuss in part 1) and debt consolidation involve the negotiation to reduce

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

your debt amount, the difference between debt settlement and debt consolidation is in the debt settlement, you need to pay off your debt with a lump sum amount which agree between y

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 and your creditor whereas in debt consolidation, the consolidated debt amount is pay in monthly installment basic.

With consolidate all your debts, your will have a clearer pict

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

ure on what debts you are currently bearing and what are the total repayment for each month. The easy one monthly payment to the debt consolidation company will help you to manage y

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

Following aspects would a

our debts and avoid unwanted late & miss payments.

Debt Consolidation Loan

The debt consolidation loan will help you to combine all your outstanding debts int

dd to the challenges in developing combination products:

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

o one loan account. For example you may have the existing loan of $8,000 with interest of 15% and credit card balance of $3,500 with interest rates of 12%. These debt balances could

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

be consolidated into one loan of $11,500 with lower interest rate of 8%.

You may consider a debt consolidation loan if you find difficult to meet your monthly repayment. You could

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

get a lower interest rate on debt consolidation loan with affordable monthly payment and the repayment period be extended.

Most of debt consolidation loans will require you to put

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

up your home or other assets as collateral. If you can't make the payments or if your payments are late, you could lose your home or assets which are pledged as the collateral. Hen

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

Professional from academic institutions, pharmaceutical industries, health care indust

ce, you should review your affordability on the repayment amount of the new loan. If the repayment is out of your repayment capability, you may consider a long loan term, of course

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

the longer of loan term, the more interest will be spent for the loan, but it will bring down the repayment level to your comfort level.

In Summary

Consolidate yo

.

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

ur debts into a single payment will ease you in your debt management while enjoying a few advantages to save up your money from your negotiation outcome with your creditors. Combine

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

Companies that provide selfless information through particip

all your debts into single loan account with a lower interest rate could give you a more affordable and repayable debt elimination plan.

See you on part 3 for more debt solutions.

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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