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IVAs are administered by Insolvency Practitioners (I.P.s), and there are many based all over the U.K. As in all walks of life though, some are better than others, so finding a reputable I.P. when you need one is

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

not always straight forward.

A common way of finding an I.P. is to use an intermediary IVA company. The intermediary IVA company will assess your case and, if an IVA proves to be a viable option, they w

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

Examples of combination products may in

uld normally suggest a reputable I.P. company to help you. This in itself can lead to uncertainty because, as with the Insolvency Practitioners, some intermediary IVA companies are better than others.

The choic

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

as to which IVA company to use is crucial.

So, how does a person decide which IVA company is the most suitable from the many available to choose from?

A good starting point is to use an IVA company tha

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

has been recommended to you by someone you know. However, if this is not possible, using the internet is a useful way to find IVA companies which offer this service, but be cautious.

Use the tips below

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

Combination pro

to establish which IVA company you are most comfortable with:

1. Be comfortable with the adviser that you speak to.

You ought to be able to discuss any aspect of your financial, and sometim

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

s personal, circumstances with them. Your adviser should have a good knowledge of the IVA process, and be able to use their experience to guide you forward.

2. Do not use an IVA company that insist

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

on charging a fee for the preparation of the paperwork.

There are some excellent IVA companies that do this work for free.

3. Be sure that the IVA company you are usin

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

has carried out a thorough analysis of your circumstances.

To be able to advise you on which action you should take it is essential that they really understand your true situation now.

4.

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

ong>Be sure that they talk through all your alternatives.

This could include Bankruptcy, other repayment plans and possibly even a consolidation loan or a re-mortgage.

5. Be wary of an

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

IVA company that suggest that an IVA is a foregone conclusion.

In truth an IVA's success is based on the decision of the creditors. A good Insolvency Practitioner, however, will always err on the si

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

Following aspects would a

e of caution and use his experience to assess each new case before commencing his work. This not only saves unnecessary time, effort and costs, but also goes some way to reassuring clients that, all things consi

dd to the challenges in developing combination products:

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

ered, a successful IVA is a likely outcome.

6. Do not be persuaded by IVA companies offering unrealistically low payment IVAs.

It is easy to be given a false sense of security, but the

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

truth is that IVA repayments are based on what you can reasonably afford, not what some clever sales person is trying to make you think is acceptable to creditors. Large write off figures are very persuasive, bu

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

are by no means guaranteed. Creditors will ask for modifications to your payments at your creditors meeting if they feel that you could reasonably afford to payback more money, and the IVA will not proceed if y

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

u can't agree to these modifications. So be sure that you feel the payments you are offering are fair and reasonable.

7. Look for a money back guarantee.

When you have decided that an I

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

Professional from academic institutions, pharmaceutical industries, health care indust

A is your best option, be sure that, if the Insolvency Practitioner takes payments pre creditors meeting, these funds are refundable should your application is unsuccessful.

8. Let your instincts gu

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

ide your decision.

Don't feel that any one IVA company is the only one able to help you. If you feel that an IVA company is offering something to good to be true, ask them testing questions and gaug

.

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

their advisers response. Don't forget, if you are in any doubt, get a second opinion.

Finding the most suitable IVA company to help you is so important, as, don't forget, this company will

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

Companies that provide selfless information through particip

be presenting your case to your creditors, so you must be sure you have found the right one.

Remember, communication is the key to a healthy relationship, so once you have decided, keep all channels open

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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