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According to Marshall & Swift/Boeckh, a whopping 64% of homes in America a

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

re under-insured. With the many recent natural disasters, many people are

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

Examples of combination products may in

inding out exactly how much their insurance policy will cover. Unfortunate

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

y, some have found out too late that their coverage is inadequate.

Wha

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

can you do?

1) Take Responsibility
First, recognize that protec

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

Combination pro

ing your home and personal belongings is your responsibility. While your i

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

surance agent is there to help, it is ultimately up to you to purchase ade

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

uate coverage.

2) Inventory your home and belongings
Before you can

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

ake a decision about how much insurance is right for your situation, you m

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

st know how much your home and belongings are worth. Here's where it helps

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

to use a simple home inventory software program to track the value of your

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

Following aspects would a

home plus all of your belongings. Look for one with a report which you can

dd to the challenges in developing combination products:

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

print out listing your personal assets grouped by category with subtotal

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

.

3) Review and update your policy
Now that you know how much and wh

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

t you're trying to protect, it's time to review and update your policy. Co

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

pare the value of your actual belongings with the coverage in your policy.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Pay special attention to limitations for specific categories of personal p

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

operty, and don't hesitate to call your agent for clarification. In fact,

.

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

ow would be a good time to print out a copy of your home inventory report,

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

Companies that provide selfless information through particip

and schedule time with your agent to review your policy and current status

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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