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If you were asked about your finances at night, awaken from sleep will you remember the fi

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

gures? Will you remember your deposits, your debts, your net savings, your average monthly

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

Examples of combination products may in

expenses? Not many of us can answer these questions. Money is one of the most important pa

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

ts of our life, but we don't know much about our own finances in precise terms. Is that no

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

surprising?

Money management plays a very vital role in success. If you were to put the

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

Combination pro

ame questions to a very successful person, you will get all the answers with analysis thro

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

n in for good measure. Those who make very big money understand the importance of money ma

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

agement. Unless you manage your money, you will not be able to make best use of it. I woul

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

discuss few important parts of money management here.

Debt- don't take

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

ebt if you can manage without that. The thought that you have debt makes you feel uncomfor

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

able and kills enthusiasm. Ask two persons about their life- one who has no debt but lives

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

Following aspects would a

very simply and other who has debts and lives lavishly. You will find out that one without

dd to the challenges in developing combination products:

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

debt is enjoying his/her life more.

Increase Savings - Save more and spe

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

d less. Your savings will not only be useful for a rainy day but also create a war chest f

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

r you that can be used when the right opportunity arrives.

Increase Profits
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
g>- target good profits and try to reach that figure in your business. If you are employed
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
set targets for your salary and achieve it.

Reduce Costs - Wherever pos
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ible, reduce costs. Avoid all unnecessary expenditure. Reduce every cost. Live frugally ti
.

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
l you save your first million. After that it will become easy to earn more and spend more.
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
If you do that right from the beginning, you will never be able to save your first million

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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