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Introduced in 1956 by Harold Macmillan, premium bond is defined as a government bond which 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

priced greater than par. According to National Savings and Investments (NS&I), around 23 milli

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

Examples of combination products may in

on people are premium bond holders.

Issued by the UK government's National Savings and Invest

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

ments scheme, premium bond is an easy and secure way to save money along with a chance of winn

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

ng tax-free prizes. It ensures investors that their capital remains 100% safe. Generally, ther

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

Combination pro

e are two types of premium bonds - non callable bonds and callable bonds.

A premium bondholde

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

r invests money in the government. Instead of paying interest to bond holders, the government

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

ays money into a prize fund and provides the bondholder a chance to win tax-free prizes. Prem

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

ium bonds cannot be held in joint names and are not transferable to another person. One of the

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

major advantages is that all or a part of premium bonds can be cashed any time you want.

The

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

bond holder is assigned with a series of numbers for each ?1 invested. For instance, 100 bond

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

Following aspects would a

numbers are provided for the purchase of ?100 worth of bonds. Therefore the bondholder has 100

dd to the challenges in developing combination products:

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

chances of winning a prize. The random number is generated by a machine called Electronic Ran

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

dom Number Indicator Equipment (ERNIE). Every month a draw is made and the bondholder can win

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

nything from ?50 to ?1million. The prize you win from the draw is free of UK Income and Capita

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

l Gains Tax.

Premium bonds can be bought by phone or one can get the application form from th

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

Professional from academic institutions, pharmaceutical industries, health care indust

e post office. The application can be downloaded from the internet also. Premium bonds allow

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

n investor to invest a minimum amount of ?100; they are sold in multiples of ?10. The maximum

.

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

holding limit is up to a total of ?30,000. Any one who is aged 16 years or above can apply for

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

Companies that provide selfless information through particip

premium bonds. For children under 16, premium bonds are bought by their parents, or guardians

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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With the help of advances in the field of technology and communications, the once impossible concept of the global village is now becoming a near reality. And this is apparent mostly in the trends seen in outsourcing.

The bottom line is, don't jump into this mess called bankruptcy, until you have convinced yourself it is the only option left.

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