Encyclopaedia - Finance

At first glance it would have been hard to imagine that amidst its impervious metal frame and intimidating size that a tiny by comparison iceberg would

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

eventually be the demise of the unsinkable “Titanic”, was the iceberg fully to blame?, upon closer inspection it was a variety of factors that lead to i

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

Examples of combination products may in

s undoing:

1. The speed the ship traveled left it unable to alter its course quickly

2. A fire burning for days in the hull weakened the integrity of

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

he steel

3. Poor visibility lead to delayed reaction times

4. The temperature of the water caused the hull to fragment upon collision

5. Telegraph wa

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

nings from neighboring ships did not get through, and of course

6. There weren’t enough lifeboats on board for everyone.

These factors combined brough

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

Combination pro

down the mammoth ship of its day, much like mammoth debt begins innocently enough in the form of little spends it can accumulate quickly into BIG debt

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

eading us on a financial collision course with bankruptcy.

Knowledge is Power

Most of us don’t know exactly how much debt we’re in because lots of sma

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

ler spends slip under the radar, it’s the bigger bills that get our attention when in actual fact the smaller ones can be even more menacing with their

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

heer volume and frequency.

Get a grip on those little spends! You can take control of your finances by finding out where your money is going on a daily

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

basis in fact, I highly recommend keeping a daily log of all your spends and outgoings for the next month, you’ll be amazed to see where most of your mo

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

ey is going. Buy yourself a 50 cent notepad and under each day of the week, make a note of all the spends you made, how much you spent and what you spen

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

Following aspects would a

t it on. How much you are spending on car payments, mortgage payments, personal loans, insurances, rent, credit card payments, hire purchases, phone, fo

dd to the challenges in developing combination products:

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

d, power, water, bank fees, entertainment, car running and maintenance expenses, etc.

See where you can cut back on your spending by discarding the “wa

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

ts” and keeping the “needs”. Don’t be nervous that you discover you’re spending far more than you’d expected at least now you can work on it. Remember,

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

ou can’t change what you don’t know. Knowledge is power.

Patterns to Your Habits

Keeping a daily log not only pinpoints where your money goes but also

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

reveals some interesting things about you and your spending habits. I bet you didn’t realize you bought takeout twice a week translating into $120.00/mo

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

Professional from academic institutions, pharmaceutical industries, health care indust

th. Like my buddy The Cookie Monster now says, a cookie (or a treat) is a “sometimes” food, but an 8 takeouts a month occurrence can really add up and h

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

rt the bank balance. Trust me, if you cut back on little spends like that you’ll grow your bank balance and shrink your bottom as well.

Give it a coupl

.

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

of months and you won’t even notice you’re not eating out as frequently as you used to and you’ve saved some money to boot.

So hop to it, get that not

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

Companies that provide selfless information through particip

pad it’s well worth the 50 cents and can save you hundreds of dollars in the long run, start monitoring your spending today and plug that financial leak

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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