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You’ve probably seen the adverts about businesses and energy efficiency. They usually concentrate on the environ

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

mental benefits – namely, if we use less energy, we pump less harmful gases into the environment. Obviously this

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

Examples of combination products may in

is a worthy reason in itself. But, there are other motivations for businesses to monitor their energy usage and

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

stop wastage – for instance, saving on bills.

Paying less on energy bills brings immediate savings to the bott

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

om line. According to the Carbon Trust, a 20% saving in energy usage – realistically achievable by most business

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

Combination pro

es – can have the same positive effect as a 5% increase in sales. And, the bonus: because saving energy does lea

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

d to a healthier environment, there are government incentives to make investment in energy efficiency more attra

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

ctive.

Carbon Trust loans The Carbon Trust is a non-for-profit company set up and funded by t

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

he government to help the UK meet its international climate change obligations.

If you’re a small or medium-siz

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

ed enterprise based in England or Wales, you could borrow ?5,000 to ?100,000 unsecured and interest-free to fund

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

upgrades in elements such as lighting, heating and insulation. In Northern Ireland, all businesses that have be

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

Following aspects would a

en trading for 12 months or more may be eligible for an unsecured, interest-free loan of up to ?200,000.

dd to the challenges in developing combination products:

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

g>Enhanced Capital Allowances The Enhanced Capital Allowance scheme makes investments in energy saving

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

equipment more cost-efficient.

Capital allowances on plant and machinery are usually set at 25% a year on a re

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

ducing balance basis. In comparison, Enhanced Capital Allowances allow businesses to write off 100% of the cost

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

of energy saving equipment against their taxable profits within the first investment year. As a business, you ca

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

Professional from academic institutions, pharmaceutical industries, health care indust

n claim this allowance on income tax or corporation tax returns.

Knowing more about the incentives the governme

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

nt is offering could mean your business saves up to a third on your initial investment into energy saving measur

.

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

es. It can also mean your payback periods are shorter – we’ve calculated that you could recover the investment c

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

Companies that provide selfless information through particip

ost in as little as 12 to 18 months. From there on in, your business reaps the rewards. The environment does too

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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In order to make sure that your business is running smoothly, you have to keep good financial records. This is one of the issues with which businesses are most concerned because they want to make sure that they are turning a profit and at the same time paying the appropriate taxes to the government. When a business files an income tax return, it has to have all its I's dotted and t's crossed if it doesn't want to undergo a tax audit. That is why all income and expenses have to be carefully documented and all receipts kept.

Do you own a staffing agency? Is meeting payroll your biggest challenge? Learn how to finance your growing staffing agency.

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