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“How should I give my children pocket-money?” is one of the most common questions asked at parenting seminars.

“Should kids receive pocket-money when they complete jobs and should

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

they lose pocket-money if they are poorly behaved?” are also common queries.

Giving pocket-money is an excellent way to develop independence in children and young people.

Children

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

Examples of combination products may in

should receive pocket-money as their small share of the family wealth just as they should share the workload at home. For this reason I prefer not to link pocket-money to chores or

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

behaviour. This is not to say that the family income is divided equally between all members. Rather, children are given a realistic sum of money, given their age, needs and ability

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

to deal with money.

Here are five ideas to help you use pocket-money to develop independence and also a sense of generosity in your children:

1.Give pocket-money regularly: Like a

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

Combination pro

ults children should have a pay day each week or fortnight when they receive their share of the family wealth. My children received their pocket money at the conclusion of our famil

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 meetings. This was not so much a reward but a way of helping me remember to pay them. (I do suspect though it may have been a factor in the success of our family meetings!!)

2.Us

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

the three jars concept: Provide three jars for children when you give them pocket-money – one for spending, one for saving/investing and one for charity. Ask children to distribut

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

e their pocket-money among the jars. Giving children coins rather than notes makes this activity easier. This is a fascinating activity which gives you the chance to teach kids a gr

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

at deal about money and its use. For instance, you can get across the idea of saving before spending – i.e. setting aside an amount of money for saving/investing rather than saving

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

what they have left over at the end of the week. You can also introduce them to the notion of tithing or setting aside some of your income for charitable purposes. You may want to h

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

Following aspects would a

ave a rule or procedure that states once money is allocated to a jar it is not retrieved later!

3. Link pocket-money to age and stage of development and their needs (not wants): P

dd to the challenges in developing combination products:

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

ovide guidelines about spending including letting them know just what they are expected to buy. A child in pre school and lower primary school may get enough to purchase some sweets

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

and one or two other items, whereas a child in upper primary school may get enough to cover lunch orders, bus money and some treats. An allowance that covers clothing can be useful

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

for adolescents who can be very costly to outfit in the latest fashions.

4. You can pay me back later: If you get sick of your children asking you for treats or even the latest fad

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

or gadget suggest that they can make a purchase or at least make a contribution from their personal wealth. If you are pestered at the supermarket to but an ice cream or some such

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

Professional from academic institutions, pharmaceutical industries, health care indust

reat you can say, “Certainly you can have an ice cream out of your own money. If you haven’t any money with you I’ll buy it and you can pay me back when we get home.”

5. Teach kids

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

about goal-setting: By encouraging children to save for a big ticket item (or even make a contribution) such as a bike or skateboard children learn a great deal about planning and

.

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

ooking ahead, the value of budgeting and experience personal satisfaction of reaching a goal.

When used wisely, pocket-money is an excellent way to develop independence in children

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

Companies that provide selfless information through particip

and young people. And by the way, it maybe smart to cut or reduce pocket-money when they turn fifteen and encourage them to get a part-time job so they begin to pay their own way

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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