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Just Other Articles - Financial Literacy - Political Agenda Priority One
The need for Financial Literacy among populations is not a new one. Former US Federal Reserve Chairman Alan Greenspan has identified it and currently Robert Kiyosaki and Donald Trump are arguing it is pivotal to the future success of nations. The message appears to be going unheeded in the p
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
laces where decisions are made governments. Continued failure to ignore the message is going to have impact for two key reasons.
Reason One - The Impact of Reduced Spending Capacity
Within days of the World Trade Centre attacks of 9/11, President Bush called on the American people to
Reason One - The Impact of Reduced Spending Capacity
Within days of the World Trade Centre attacks of 9/11, President Bush called on the American people to
; 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
go out and keep spending to stimulate the American economy. His message was twofold. Firstly keep spending to stimulate the American economy and by virtue of its size, create a knock on effect to the global economy. The gobal economy is like a shark - it has to keep moving to survive and to
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
do that it needs feeding on money. However given the current level of financial literacy, disposable income is something of a finite resource and we are reaching the upper end of how elastic that can be.
Personal spending is either done via existing resources i.e. salary or through credit.
Personal spending is either done via existing resources i.e. salary or through credit.
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
Both however are not limitless. In fact for many, the salary option has dried up. Many people now are using credit cards and other sources of credit in order to maintain their spending pattern. Worse still the signs are showing, that people are now so extended that they require more credi
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t just to meet the existing credit repayments. Some have even gone beyond this extreme stage and we are starting to see personal insolvency rise.
Eventually the ability of these people to spend will be severely limited and as such they will no longer be able to feed the never ending appetite
Eventually the ability of these people to spend will be severely limited and as such they will no longer be able to feed the never ending appetite
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
of the economy. Without a constant flow of money at best there will be a slowdown. The possibility of a downturn in an economy is also a very real possibility along with it's knock on effects.
Reason Two Welfare Spending and its upward spiral
Welfare spending is on an upward spiral
Reason Two Welfare Spending and its upward spiral
Welfare spending is on an upward spiral
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
. As Robert Kiyosaki and Donald Trump point out in their book Why We Want You To Be Rich it has been calculated that the American welfare system is beginning to run up debts to the American people that all the stock and bond markets in the world could not repay if cashed in. They also observ
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e this could very well worsen as the Baby Boomer generation begins retiring making a major pull on an already overstretched resource.
The problem has always been known about but has been moved forward like a ticking bomb by governments all hopeful that it does not go off on their watch. Unfo
The problem has always been known about but has been moved forward like a ticking bomb by governments all hopeful that it does not go off on their watch. Unfo
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
rtunately the ticking appears to be getting faster indicating we are nearer than ever to this bomb going off.
Is There an Answer? If there is, its certainly not to repeat the same actions. Furthermore, financial literacy needs to take increased prominence in the nations minds. People need t
Is There an Answer? If there is, its certainly not to repeat the same actions. Furthermore, financial literacy needs to take increased prominence in the nations minds. People need t
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
o know how to think more effectively about how they handle their money. One of the best ways to begin this process is to begin with the young. The way to do that is to expose them to financial literacy in the one institution they spend their formative years in - school. This however will ne
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
ed projects and plans to introduce financial literacy to be formulated right now. Not tomorrow, not sometime in the future. Today.
The kind of political will it will take to achieve this means the subject will have to be on the to do list of every man and woman who considers themselves to h
The kind of political will it will take to achieve this means the subject will have to be on the to do list of every man and woman who considers themselves to h
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
ave some political clout. It's going to have to be on the talking points of every major politician in order to create the kind of groundswell that makes things happen.
Whilst this may sound a major undertaking, politicians respond to two key things which could help get it on the agenda. The
Whilst this may sound a major undertaking, politicians respond to two key things which could help get it on the agenda. The
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
first is overwhelming demand for action from the people that vote for them. When these people make enough noise and they feel their position is under threat - politicians respond. The second is when they understand there is something in it for them - recognition as being pivotal to it's ach
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
ievement and can create a legacy of their time in office - they respond. Once they understand what's in it for them this could become easier.
Well what is in it for the political figures of our time?
If financial literacy is placed in schools we potentially have the ability to produce the f
Well what is in it for the political figures of our time?
If financial literacy is placed in schools we potentially have the ability to produce the f
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
irst financially literate generation. The resulting impact could be more benefit to individuals and whole social groups than whole reams of legislation and social programs have ever achieved. Combining literacy of both words and numbers provides the foundation on which socially disadvantaged
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
groups and individuals can raise themselves from the various types of poverty they find themselves in.
With such knowledge, they reduce their dependency on others, on society and on their government. The outcomes from this can appeal to those on both sides of the political divide. Finally
With such knowledge, they reduce their dependency on others, on society and on their government. The outcomes from this can appeal to those on both sides of the political divide. Finally
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
a bi-partisan initiative that can be a force for good whatever your politics.
If Political figures are still wondering what's in it for them it this. Many talk about the need to do something worthwhile and to leave a legacy for their time in public service. Many get sidetracked and bogged d
If Political figures are still wondering what's in it for them it this. Many talk about the need to do something worthwhile and to leave a legacy for their time in public service. Many get sidetracked and bogged d
.
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
own as the cause they see so worthwhile is opposed throughout their political careers This saps their willpower to get it done and they become a shadow of the person they set out to be in public service. By embracing this cause which can find support on both sides suddenly the opportunity exi
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
sts to create a political legacy that can redefine the future not only of individuals and of social groups, but of whole nations.
A brighter future exists with action from our politicians and public servants. They just need to rewrite their to do list so that Financial Literacy is on the top
A brighter future exists with action from our politicians and public servants. They just need to rewrite their to do list so that Financial Literacy is on the top
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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