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It's always prudent to save for a rainy day, and many people with spare cash available prefer the security of placing it in a savings account to the more risky but potentially more

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

profitable choice of other investments such as the stockmarket. Choosing a savings account would at first glance seem to be as simple as going for the one with the highest interest

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

Examples of combination products may in

ate, but there are several other factors to take into account too.

The first choice to make is between opening an account with a high street bank, or going direct. High street bank

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

s give you the advantage of being able to manage your account with face to face contact with real people, and the ability to deposit cash and cheques easily. However, they have not

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

istorically offered the most competitive rates of interest, although this is changing slowly.

Direct savings accounts are operated solely online, by telephone, and by post with no

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

Combination pro

ossibility of visiting a bank branch to conduct business. This means they are cheaper to run for the banks, with less admin and staff costs, and so in turn they are willing to offer

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

more attractive interest rates. Indeed, when internet direct savings accounts first appeared, some of them offered ten times the interest of a typical branch-based account, althoug

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

the gap has narrowed considerably over the years.

The next choice to make is which type of savings account to go for. Amongst all the other options and features available, there a

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

e two basic kinds of account: regular savings, and deposit savings. With a regular saver account, you commit to depositing a fixed amount every month for a certain period, often a 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

ear. Most accounts will let you pay in more than this if you are able to, but if you fall below the minimum amount in a month you will likely forfeit interest payments for that mont

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

. With a deposit account there are no such restrictions - you can put in as much or as little as you want, whenever you want. On the whole, a regular saver account will offer better

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

Following aspects would a

interest rates at the price of less flexibility.

Another factor that will affect the rate of interest you can earn is the level of access to your money you need. Basically, you can

dd to the challenges in developing combination products:

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

either choose a fully flexible account which lets you deposit and withdraw funds whenever you want with no charges or penalty, or a more restricted access account which might requi

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

e 30, 60, or 90 days notice before withdrawals can be made without incurring an interest penalty. Some accounts go further, locking your money in for a period of years, but these ac

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

ounts are more like bonds than savings accounts, and are outside the scope of this article.

In general, you pay a price for flexibility, and so accounts with more access restrictio

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

ns will pay a better rate, and so are perhaps more suited to long term investments than simply serving as a way of earning interest on spare cash that might still be needed at some

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

Professional from academic institutions, pharmaceutical industries, health care indust

oint.

The other main aspect to consider is how the interest is paid. Most accounts will pay your interest in one installment, once each year. Some, however, will credit your intere

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

t on a monthly basis, opening up the possibility of earning compound interest (i.e. where you earn interest on your previously earned interest). Nothing in the financial world is fr

.

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

ee though, so once again the flexibility of more frequent interest payments will be paid for with a lower rate.

As we have seen, there is more to choosing a savings account than si

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

Companies that provide selfless information through particip

ply comparing basic interest rates. Of course, you want to earn as much interest as possible, but locking yourself into an unsuitable account might not be the best use of your money

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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