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Top Articles - What is Microcredit?
Fulfilling Dreams and Aspirations of the Poor:
Microcredit is the extension of small loans to
Microcredit is the extension of small loans to
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
people too poor to qualify for traditional bank loans.
These very small loans allow the poor to develop their
These very small loans allow the poor to develop their
; 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
various businesses and trades. As a result people have the chance to bring themselves out of poverty. Microcred
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
it goes directly to the people who need it and instills a sense of pride that can sometimes be lost with tradit
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
onal charity handouts.
When money is used for microcredit, it is not used once but over and over again. When a
When money is used for microcredit, it is not used once but over and over again. When a
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
loan is repaid with interest, the money generated is given to a new borrower. In time this creates a sustainabl
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
e institution, which is not reliant on continuous donations.
The majority of microcredit borrowers are women b
The majority of microcredit borrowers are women b
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
cause they have proven to be excellent at managing their businesses. Also, when a lady controls the finances th
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
money she earns tends to go back into the home and to her children's education.
Professor Muhammad Yunus was
Professor Muhammad Yunus was
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
one of the first people to lend money to poor people in Bangladesh. He saw that a very small amount of money co
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ld dramatically change the direction of someone's life. He went on to establish The Grameen Bank, which current
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
y serves 6.6 million families.
The Grameen microcredit program has a convergence of these basic features:
The Grameen microcredit program has a convergence of these basic features:
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
>
Promoting credit as a human right.
Helping poor families help themselves to overcome poverty.
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
asing loans on trust, not collateral.
Creating self–employment for income–generating activities and housin
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
for the poor.
Rejecting conventional banking methodology and creating its own.
Bringing the bank to
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
the people, rather the reverse.
Requiring borrowers to form a small group of borrowers.
Providing loa
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 in a continuous sequence when previous loans are repaid.
Repaying loans weekly or biweekly.
Availab
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
lity of simultaneous loans to a borrower.
Obligatory and voluntary savings programs for borrowers.
Ch
.
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
anging interest rates at or lower than the commercial rates; and giving high priority to building social capita
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
that develops individual leadership, promotes education and technology, and concern for the environment.
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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