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You are here: Home > Legal > Identity Theft > Identity Theft: Oh No... Not Them |
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Top Articles - Identity Theft: Oh No... Not Them
You'll never hear the end of it if you decide to press charges. And besides you're not even sure you really want to do that. They might pay you 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 back the money. Not. The burden is on you to sort this mess out and the worst part is once a relative or friend steals your identity, it's almos ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in t impossible to trust them again. We hear about the high profile cases of hackers breaking into the databases of Lexis Nexus or DSW Shoe wareh lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ouse, yet most instances of identity theft never make the news. Usually it's something basic like a neighbor stealing a credit card application here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe from your mailbox or a relative going thru your personal belongings In the Better Business Bureau's 2005 Fraud Survey report they found relativ d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro es, close friends and neighbors make up 50 percent of all identity thieves. They also cost you more time and money trying to fix the problem. Ja 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 velin Research calculates that the average cost to identity theft victims is $15,607 when the perpetrator is known. But even that figure is mis 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 leading. Many children are falling victim to identity theft (a half million last year according to the Federal Trade Commission) which means the nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically full impact of the damage may not be known until years later when as adults they apply for credit. For some parents, stealing their child's id 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 entity is a stop gap solution. Their own credit is destroyed, so "borrowing" their child's social security number becomes a necessity. All the w ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi hile, they assure themselves the money will be paid back. Yet the same pattern that destroyed the parent's credit, now puts a negative on the ch ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ild. It doesn't matter if the thief is a parent, sibling or best friend, the process of recovering your identity is a tough one and it gets mor dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod e complicated. Should you report the crime? "Frequently when we would break up a ring and get a list of victims and find family members were in cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin volved in the crime, relatives are very reluctant to co-operate" says Ken Hunter, former Chief Postal Inspector and current president of the Cou tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ncil of Better Business Bureaus. According to a study done by Gartner, Inc., the chances of an identity thief getting prosecuted are 1 in 700. 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 However, when a relative is the culprit those odds go through the roof. The attitude understandably becomes, "Yes, they did me wrong but I can't ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust send them to jail." Ken Hunter: "If it's a matter of pilferage at a very low level, nothing much is really going to happen to that person." O y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products n the other hand, if your identity is used to commit crimes on a higher scale, by all means report it to the authorities. You may feel guilty 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 nd make a lot of people angry in the process. Families get torn apart because relatives feel the matter should stay private. It's a tough decis elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip ion, but remember, this is your good name the identity thief destroyed, not your relatives and it's you who may be wanted for a crime, not them. 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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