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Top Articles - Investing - Keep Up Your Guard
Do you like being taken advantage of? I sure don’t. In fact, I hate it! Worse, it seems like it is happening more and more. Now, more than ever, it is buyer-beware. Read on for some specific examples and to learn how y
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
ou can protect yourself.
Trust is involved when we buy a company’s products of services. Companies spend millions of dollars a year in advertising trying to gain our trust. Employees, especially salespeople, are train
Trust is involved when we buy a company’s products of services. Companies spend millions of dollars a year in advertising trying to gain our trust. Employees, especially salespeople, are train
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
d in what to say to build our trust in them and their company.
When I take the bait and find out that the product or service doesn’t meet my expectations, I feel my trust has been violated. I’ve been taken advantage o
When I take the bait and find out that the product or service doesn’t meet my expectations, I feel my trust has been violated. I’ve been taken advantage o
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
just so the company could make another dollar. It used to be rare. Now it’s common.
Take AARP for example. Founded as the American Association for Retired Persons, it quickly became the largest defender of senior’s r
Take AARP for example. Founded as the American Association for Retired Persons, it quickly became the largest defender of senior’s r
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ghts. It is still one of the most powerful lobbying groups in Washington. Its members trust it to act in their best interest.
That’s why so many of them were surprised when AARP suddenly changed course and supported t
That’s why so many of them were surprised when AARP suddenly changed course and supported t
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e Medicare Drug Bill. AARP even spent $7 million advertising their support! Members were stunned--only 18% of them supported it.
What could have caused this trusted voice of seniors to stop acting on their behalf? I’m
What could have caused this trusted voice of seniors to stop acting on their behalf? I’m
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
not going to judge motives, but isn’t it interesting that AARP stands to make millions of dollars selling its new prescription drug insurance called MedicareRX? Hmmm.
AARP receives more money from licensing the AARP n
AARP receives more money from licensing the AARP n
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
me to products and services then it does from membership dues. They’re becoming more of a marketing firm then a lobbying firm. Are their products truly in their member’s best interest? Not always.
AARP mutual funds ar
AARP mutual funds ar
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
a perfect example. Managed by Scudder, not a single one has performed in the top 20% of its category. Those who invested because of the AARP name have forgone thousands and thousands of dollars of growth due to low re
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
urns—while AARP has pocketed tens of millions of dollars.
The key point is that you shouldn’t trust a product just because it has a familiar name associated with it. Do you homework and compare it to its competitors.
The key point is that you shouldn’t trust a product just because it has a familiar name associated with it. Do you homework and compare it to its competitors.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
We can be taken advantage of in other ways. I recently responded to an offer for a ‘free credit report’. It was provided by one of the largest credit reporting companies in the world. Surely it could be trusted.
Nope.
Nope.
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
Buried in the fine print is that fact that anyone who receives the ‘free’ credit report is automatically signed up for their credit monitoring service. Until you call and cancel, your credit card is billed each month.
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
Since I used my debit card, I didn’t notice the charge right away. The lesson? Be careful when signing up for ‘free’ offers, read all the fine print, and don’t use your debit card for online purchases.
Lastly, I recen
Lastly, I recen
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ly bought an electronic book online as part of some research I was doing on Equity-Indexed Annuities. The sales pitch explained that ‘shocking’ truths about annuities would be revealed. It’s easy to find people promoti
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
g annuities and I was looking for an opposing view. This seemed to be it.
When I went to purchase it I learned that the information I was looking for wasn’t included in the ‘shocking truths’ and that I had to upgrade
When I went to purchase it I learned that the information I was looking for wasn’t included in the ‘shocking truths’ and that I had to upgrade
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
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
o learn those secrets. The entire package cost $97, double what was initially advertised.
Worse, the material ended up being a sales pitch FOR annuities! I read the terms and conditions. They sell your information to
Worse, the material ended up being a sales pitch FOR annuities! I read the terms and conditions. They sell your information to
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ist brokers and insurance agents. One of the ‘bonus’ services was the ability to talk with a live person about your situation. In reality, you would be connected to an insurance salesperson and received biased advice.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
It shouldn’t be this way. We shouldn’t have to constantly keep our guard up to protect ourselves. But we do. Be careful who you trust—especially a financial salesperson. The people and companies that provide the produc
.
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
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
s and services you use should repeatedly earn your trust. If not, they don’t deserve your business.
Have a financial question? Send me an email and I’ll personally respond, free of charge. Go to www.guardingyourwealth
Have a financial question? Send me an email and I’ll personally respond, free of charge. Go to www.guardingyourwealth
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
com and click on ‘Ask Jeff’.
In addition to being a nationally syndicated columnist and Certified Financial Planning Practitioner, Mr. Voudrie provides personal, private money management services to clients nationwide
In addition to being a nationally syndicated columnist and Certified Financial Planning Practitioner, Mr. Voudrie provides personal, private money management services to clients nationwide
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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