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There are few things more exciting, compelling, or time consuming as having a new business trying to get past its first year successfully. Establis

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

hed businesses and new businesses share many things in common, but an established business is less likely to have issues with immediate cash flow.

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

Examples of combination products may in

Either way you look at it, asset based factoring is a great way to get working cash flow out of assets immediately instead of tomorrow.

What exact

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

ly is asset based factoring? Asset based factoring is a method of selling payable invoices to a factoring company at a loss of the total due on the

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

invoices. Selling those invoices is a great way to get working capital out of payable invoices due in the future.

There are many reasons invoices

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

Combination pro

may be due in the future - accounts to be paid on a regular basis such as weekly or monthly, lines of credit offered, or invoices yet to be sent.

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

All of these reason are just the beginning as to why people have invoices due. If you do a lot of business with debtors paying in the future instea

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

d of today, asset based factoring may be for you.

If you find you may benefit from asset based factoring, there are some basic consideration to ke

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

ep in mind.

Understand The Lingo
Understanding the lingo of the factoring industry will insure you get the most out of the experience. Knowle

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

dge is power. Without knowing what is being said, you and your business are at the mercy of the factoring company.

Rates And Fees
The obvious

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

profit for the factoring company comes in the terms you receive. There are rates and fees usually associated with the amount of the invoices. Never

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

Following aspects would a

theless, many factoring companies are starting to offer a set rate no matter how much you receive for the invoices. Of course, this is good because

dd to the challenges in developing combination products:

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

it offers those with a high value of invoices a lower fee; and this is bad because those with a lower value of invoices pay a larger fee. Make sur

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

e you know which one you are dealing with.

Read The Fine Print
As is a necessity for anyone, reading the fine print is extremely important. J

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

ust because the person helping you fill out the paperwork is friendly and sociable does not mean they may either forget or neglect to mention impor

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

tant aspects of the transaction. Ask questions if you are unsure of what is meant; if your questions are not answered to your satisfaction, do not

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

Professional from academic institutions, pharmaceutical industries, health care indust

do business with that factoring company.

Time Limits
Many factoring companies only allow for invoices payable with 2 weeks; some factoring co

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

mpanies allow for invoices payable within 90 days. Make sure to ask.

Liability
Ask the factoring company who is liable for invoices not paid

.

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

by the debtor. There are some factoring companies offering asset based factoring who do not require the business to pay the invoices. Instead, thes

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

Companies that provide selfless information through particip

e non recourse factoring terms mean the factoring company will hold the liability of collecting the debt directly from the debtor not your business

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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In the popular press these days, a dominant theme is about living your purpose. One thing about living your purpose or your passion for that matter is that living your purpose can really get ugly at times.

In this article I discuss why you should target smaller niche markets when creating websites, as opposed to the highly profitable, but oversaturated markets that are already out there. I also reinforce my main arguments by highlighting a real-life niche that is currently untapped, but could potentially be very profitable for someone who wishes to enter this niche.

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