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Cash flow is very important, as many businesses have failed due to lack of cash flow rather than any other reason! Having a clear idea of h

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

ow much cash is available at any given time is crucial for implementing new strategies and for planning any short term or long term funding

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

Examples of combination products may in

requirements of the business.

When cash flow is carefully predicted, planned and monitored, it will be easier for the business to function

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

Businesses use cash flow projections or forecasts to manage cash flow problems. When cash flow forecasts are made accurately, a clear idea

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

of how much cash will be needed at any given time can be determined and finances can be arranged to ensure that the business does not have

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

Combination pro

sudden cash crunch. Cash flow projections will help make clear exactly how much cash will be available at any given period so that necessa

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

y actions such as investing or using surplus cash available usefully can also be planned and executed. At times, the business will have som

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

problem coordinating the expenses and the income, at such times cash flow projections will also be helpful in dealing with the situation.

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

hus, cash flow 101 serves as excellent fiscal management tools and it is vital that the fiscal aspect of a business is under good managemen

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

for a business to succeed.

Basic Rules of Cash Flow 101:
 Make sure you never run out of cash, as businesses have sometimes

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

ever recovered from that.
 Give money the respect it deserves and handle it with care, manage and use it wisely.


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

Following aspects would a

Make sure you know your current cash balance at any given time, by managing records and using cash flow projections.
 Be as ac

dd to the challenges in developing combination products:

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

urate as possible in estimating the cash flow, as errors can have serious consequences.
 Hire qualified people to do the math

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

f you find it difficult, make sure they are organized and keep records well as well as prepare accurate cash flow statements.


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

Never make the mistake of thinking bank balances and cash flow statements are the same. It will be a perfect prescription to doom if you do

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

so.
 Be accurate and estimate the cash flow projections for as much as 6 months in advance.
 Have the ability to

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

Professional from academic institutions, pharmaceutical industries, health care indust

nderstand the cash flow 101, understand when there will be a cash crunch, and take appropriate actions to counter them such as applying for

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

a loan to tide you over etc.
 Make periodical cash flow projections taking into consideration any changes and planning accordi

.

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

gly.
 Cash flow projections help to develop your strategic business plans helping improve business.

These few things will

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

Companies that provide selfless information through particip

help you learn all about cash flow 101. There are firms that offer their help and services to make the process of running a business easily

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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