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Top Articles - Understanding Commercial Identity Theft
Businesses are not always free of theft worries.They face the same exposure individuals do but the potential for loss can be even bigger on a commercial sc
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
ale. The confidence trickster shares common ground with the identity thief. It is simple for a confidence trickster, or anyone for that matter, to say that
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
he works for a particular company and to charge whatever expenses were incurred to the company's account. A person can appear to be credible and know the c
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
orrect procedures.
When business is rushed, the transaction can be made without a thought or indication of suspicion. Most businesses are solely intereste
When business is rushed, the transaction can be made without a thought or indication of suspicion. Most businesses are solely intereste
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
in building business and are not likely to turn customers away, especially if they appear to be credible.
Chances of the commercial identity thief being
Chances of the commercial identity thief being
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
believed are likely if he has inside information or knowledge such as the order number or the order form in the right format, a business card or an officia
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
looking company document, and the transaction does not appear to be suspicious. Customer service people are not very likely to reject what appears to be a
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
credible or legitimate business transaction.
We have become too confident in thinking that a confidence trickster could get a way with a transaction like
We have become too confident in thinking that a confidence trickster could get a way with a transaction like
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
the infamous sale of the Brooklyn Bridge. These types of things did not fade with the age old trick. Today we are just as gullible and greed is just as evi
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
dent. This is noted in the famous Nigerian scam wherein victims are requested to send advance money transfers. These types of efforts are currently made on
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
a huge scale.
A recent report by the BBC indicated that this Nigerian scam costs Britain 150 million pounds every year. This is just one country and a sin
A recent report by the BBC indicated that this Nigerian scam costs Britain 150 million pounds every year. This is just one country and a sin
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
gle estimation of costs. Routine verification and documentation procedures are the best defense against commercial identity theft. In order to have a secon
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
opinion and a sort of cooling off period, a supervisor should be in charge of approving transactions that could possibly involve identity theft. Some inve
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
stigative procedures are usually warranted before a transaction for credit authorization is completed. Set procedures for verifying unusual delivery instru
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
tions are utilized to ensure that identity theft becomes even more difficult for thieves to carry out.
Several companies have started refusing to issue pa
Several companies have started refusing to issue pa
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
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
yment for invoices that do not match company order numbers. Due to past experiences, more extreme transaction approval procedures are evident to assess ris
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
s and flag potential commercial identity theft problems.
This is all good and secure ethics in business but the simplest defense is simply good old
This is all good and secure ethics in business but the simplest defense is simply good old
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
customer service. Knowing a customer well will allow a company to become familiar with the usual team associated with them or their business and relieve a
.
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
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
y stress of business not being carried out in the usual way.
Balancing between growing sales and preventing fraud is a constant challenge for businesses.
Balancing between growing sales and preventing fraud is a constant challenge for businesses.
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
Frequent use of information systems for quickly accessing and communicating data has made it possible to detect and prevent commercial identity theft early
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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