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Electronic money or better known as e-money is the modern form of money in which all monetary transactions are made electronically. Piles of currency notes are repl

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

aced by tiny smart cards, which not only provide us money but provide a lot of services.

Concept of e-money is too young but it’s versatility and reliability has ma

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

Examples of combination products may in

e it big hit. Computer has revolutionized human life. Use of internet opened new dimensions in computer use. Today it is being used in every field, in every part 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.

world. E-money ultimately works similar to paper money without the risks and inconvenience, which may occur with cash money.

Unlike cash money, it can pass immedia

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

ely between the two transactions online parties. Smart cards, credit cards, digi cash all of these makes money transfer in no time. Use of Electronic Data Interchan

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

Combination pro

e (EDI) and Electronic Funds Transfer (EFT) in late 1970s, were among the initial attempts to realize the dream of electronic money. Later use of internet gave an un

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

maginable boost to the use of computer for monetary transactions. Today, 90% of total monetary transactions in USA are done through computer based payment system .T

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

his fact is enough to prove the increasing popularity of e-money over cash money. Advances in various technological areas have made the widespread use of electronic

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

cash economically viable, spurring interest in e-money. These advances are:

• Reliable and fast transaction with a low cost per transaction;
• Better and user

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

riendly computer technology.
• Better security system to check fraud and ensure privacy.
E-money has many advantages over traditional cash system, which ma

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

es it popular. Some of the benefits of it are as follows.
• Fast transaction.
• No need to carry pile of cash, just have your small chip card.
• Reli

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

Following aspects would a

ble and secure.
• No fear of theft or robbery.
• Round the clock banking facility.
• Better information about your account details.
• More person

dd to the challenges in developing combination products:

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

lized banking services and instruments.

But e-money is not free from loop holes. As all your details are made online, some intruders may get some gaps in securi

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

y and can give you huge losses. There are number of issues which are required to be resolved completely before seeing e-money swapping traditional cash system compl

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

etely. Most important of these are –
• Issue of data security and threat of fraud.
• Issue of using e-money in all parts of world especially in underdevel

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

ped countries.
• Issue of unifying the mode of transaction as incompatible mode of money transfer may cause problems.
• Issue of cheap e-banking service.

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

Professional from academic institutions, pharmaceutical industries, health care indust

> • Privacy of personal information will also be an important issue.

We can not imagine e-money as complete replacement for the cash money without resolving th

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

se issues. These are certain issues which need to be resolved to get total acceptance for e-money. History of payments systems suggests that new payments methods do

.

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

not completely replace old ones because the old methods may continue to have valuable and unique features. Lack of a standard e-banking system in various parts of

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

Companies that provide selfless information through particip

orld is also a big hurdle in complete acceptance of e-money. If you have something to discuss over e-money or want to ask something over it, feel free to contact me

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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Today is Thanksgiving and within a few hours people will be streaming into my house to enjoy their share of turkey and the trimmings and pumpkin pie. It’s my job to cook this feast, or should I say to re-cook it, because for the last several years I’ve purchased a packaged meal from a local market. They assemble the sides and pre-cook the bird, leaving only the heating-up and serving functions to me.

Networking is the development and maintenance of mutually beneficial relationships. It's not schmoozing, it's not handing out business cards, it's not selling, it's not marketing, and it's not small talk. Some of those activities might be part of networking, but be careful not to confuse form with function. Networking is a process that takes the right attitude, patience and organization.

The primary goal of any website is to communicate. In order for webmasters to convey their message effectively they must have a clear idea of what they wish to communicate. Also, they must be able to evaluate the effect that this information is having on the website visitor.

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