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Lenders look for specific things when deciding whether to grant a loan or not, and this is usually reflected in either the credit rating or credit report, or both. However, being careful or

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

specific when it comes to decisions should not be with the lenders only. The borrowers themselves can search for a specific lender, one that offers them the best deal and where they would be

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

Examples of combination products may in

most comfortable with.

Lenders can come at various descriptions – national banks, financial and money lending institutions, up to small money lending businesses. They all are unique when i

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

t comes to their lending policies, which is a good thing because borrowers have the freedom to choose. In looking for the best lender for you, here are just three important things to conside

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

r:

First, the ability. Yes, lenders, no matter how big or small they might be, should have enough money to be able to lend you what you need, so it’s not really a question of their capabili

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

Combination pro

ty, since they won’t be in that business if they couldn’t lend. This is normally the area where national lenders beat out their local counterparts.

Ability refers to the various loan types

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

that lenders can offer – which translates to diversity in products. Because a national lender has access to capital in any kind of economic environment, they often have more to offer than lo

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

cals, which have fewer sources that potentially could dry up. As a borrower, you ought to consider the ability of the lender in various sources, including services during the loan (which cou

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

ld translate to less hassle), of which national lenders are advantageous.

Second, rate of interest. As is often the case, local lenders have more of an advantage here as they usually bring

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

their interest rates down in order to entice borrowers to do business with them. It is understandable that they do this so that their national counterparts would not be able to monopolize th

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

e business locally. Nationals usually have a fixed rate that would have to go through some channels in order to be lowered, which is not much the case with locals.

Since the rate of interes

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

Following aspects would a

t determines how much you will be paying over the course of the loan, this is an important factor to look out for, particularly for the borrower. One percentage point can make a big differen

dd to the challenges in developing combination products:

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

ce between the borrower being able to pay the loan or not. The consequences of not paying a loan can be grave, both for the short term and long term of it, so this particular factor should b

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

e taken into consideration carefully.

Third, accessibility and relationship. As a borrower, it would be more to your benefit if you establish a good working and professional relationship wi

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

th your lender. Sometimes, this is a hard task to accomplish, while sometimes it can be easy, and so it’s more of a case-to-case basis. A poor relationship with your borrower can potentially

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

lead into a lot of different problems.

In accessibility, there are some things to look out for. One of these is what types of clients the lender loans money to – since there are some that

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

Professional from academic institutions, pharmaceutical industries, health care indust

require a higher credit rating, while some deal only with those who have bad credit. It would be better for you to know beforehand what type of borrower a certain lender does business with b

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

efore actually applying for the loan.

In relationship, a one-on-one professional relationship with a lender is recommended. This is for your benefit as you will be updated and reminded as t

.

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

o the status of your loan, whether there is a payment soon, any potential problems, and the like. If there is no, one-on-one relationship, there could be problems.

These are just three impo

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

Companies that provide selfless information through particip

rtant things to look for in a lender. There are some more, but these are some of the most important. By following these three, you are well on your way to choosing the proper lender for you.

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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