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Ah, that's the $64,000 question!!!

There are a few ways to answer that question and it shouldn't be any surprise that the answers pretty much rest with you, your lifestyle and financial preferences, howe

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

ver, if you stay with me for a couple of minutes I can give you some "food for thought" that could have a bearing on your decision ...

Are ya with me??

Excellent!!!

If you want to modify the vehicle

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

Examples of combination products may in

in some way, if you rack up the miles, if you want to own the vehicle and /or if you want to keep your vehicle for several years ... then .... finance.

If you want to keep your monthly payment down (I'

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

l explain that in a second), if you don't put too many kms on in a year, if you want to get into a new vehicle every 2-4 years and/or if you have a business income where you can claim monthly payments f

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

or a vehicle ... then .... lease.

Sounds pretty reasonable, right??

Ok, let's go a little further ...

When you decide to finance a vehicle, what you are doing is paying on the full amount of the vehi

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

Combination pro

cle plus the tax and interest for the given period or term you have agreed upon, be it 3, 4, 5 or in some cases even 6 years.

When you lease a vehicle you are paying for the amount of the car that you ar

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

driving over a period of time. That time can be anywhere from 2-4 years depending on you. You are paying taxes on the monthly payment NOT the entire purchase price. In addition to that at the end of

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 term you have a couple of choices you can make, you can decide to:

A. buy the vehicle at the end of the term and drive it,
B buy the vehicle at the end of the term and sell it, or
C. give

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

back the keys and get yourself into a new vehicle altogether

Now, I get people who say to me "but if I lease I don't own the vehicle." You are totally correct you don't own the vehicle, however, if you

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

hink about it, when you finance you don't own the vehicle either. It isn't "yours" until you have paid it off in full. Here is one more thing to think about ... let's say your family is getting bigger a

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

nd you now need a bigger car. You still owe on your current car and when you went in to see about using it as a trade you find that you are upside down (you owe more for your car than it is actually

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

Following aspects would a

worth). With leasing you don't have to worry about being upside down.

One more thing you should know. With a lease you have GAP protection and here is how it works. Let's say you are involved in an accide

dd to the challenges in developing combination products:

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

t (heave forbid) and the car is totalled, you insurance company comes back and says the vehicle is valued at $20,000 but your lease at the time is sitting at $25,000. As long as you have met all the requ

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

irements with respect to the lease agreement, then you are totally covered. You are not out of pocket. It's the reverse for financing, reason being because "you own" the car. So, in the same scenario, you

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

are responsible for the difference between what your insurance will cover and the value of the car.

Take this a step even further and let's do the math ... Let's see how the numbers work out on a 36 mo

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

th lease and finance.

Lease Finance

Payment 486.39 x 36 Pa

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

Professional from academic institutions, pharmaceutical industries, health care indust

yment 764.84 x 36

= $17510.04 = $27534.00

So we see how the monthly payments break down between and lease and finance. If

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

we look at the difference we can see that if we went the lease route over the 36 months we would have saved ourselves $9648.00 (764.84-486.39x36) that YOU keep in your pocket. In addition with the l

.

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

ase you have three options available, you can:

A. buy the balance owing on the car (residual) and keep the car
B. buy the balance owing on the car and sell it, or
C. give the keys back and get in

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

Companies that provide selfless information through particip

to something new

The decision rests with you in the end, however, models change, tastes change, even our needs change. Leasing certianly offers you much in the way of flexibility and doesn't tie you down

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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Have you ever considered jobs in mechanical engineering or electrical engineering? These fields are both quite prominent across the country. In fact, my wife is a chemical engineer and enjoys her work immensely. One thing I did realize when she finished school and began searching online was all the openings in various states. I am talking about chemical, process, quality, software, and electrical engineering positions; not to mention all the jobs in mechanical engineering as well. There literally seemed to be no end to this rewarding field. Not only is it a wonderful field to get involved in because of the career choices, but it's also beneficial income-wise. Do you know what many engineers start at?

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