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Purchase a car or just lease it out!

Gone are the times when the options of getting a new car

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

were to either purchase it or wait for a company car. But, today, one has a choice to either opt for c

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

Examples of combination products may in

r purchase or lease it out. There’s a wide variety of loans ranging from traditional bank loan to nova

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

ed lease.

Lease a car and pay only for the use of car, on completion of the lease period, one can han

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

d it back to the leaser, take out another lease or even purchase the vehicle through a third party. Le

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

Combination pro

sing out is a good option, if your employer is willing to include a car as part of your salary package

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

Also get exempted from paying tax, especially for cars in the prestige or luxury sector.

Lease fi

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

nance can be classified into two broad categories:

Finance Lease or Operating lease and Novated l

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

ase are the two categories of Lease finance.

Finance lease are quite popular due to the fact that 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

have an ability to novate the lease. There’s no deposit or trade-ins involved in such lease. Monthly

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

ayments are made based on the lease term, interest on the finance charge and the residual value of the

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

Following aspects would a

car at the end of the term. A borrower may have to take risk on the residual amount, if the car is no

dd to the challenges in developing combination products:

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

worth the amount three years later, he will have to make up the residual difference and finalise the

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

ontract. However, one can take ownership, by refinancing the residual.

Another way out to have a car

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

and get tax exemption is to go for novated lease. One can take out a standard finance lease on a car o

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

his choice. The employer can pay the employee’s lease payments through a novation agreement which is

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

Professional from academic institutions, pharmaceutical industries, health care indust

alid till the last working day. The lease payments to be made, running costs of the car used for an em

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

ployee’s private purpose will be subjected to FBT (Fringe Benefit Tax). This FBT is calculated on the

.

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

asis of the car value. The kilometers traveled annually are covered by the pre-tax salary. If the empl

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

Companies that provide selfless information through particip

yee resigns from the company, then the lease payments will be made by him and not the company any more

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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