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There is a new kid on the block for certain high net worth senior citizens. It is called the life settlement. I

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

t is a secondary market in life insurance policies. For years the insurance companies have operated what is cal

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

Examples of combination products may in

ed a monopsony. This is where a particular buyer so controls the market that he can also control prices. It is

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

a reverse of monopoly where it is the seller who controls the market. In the case of insurance companies before

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

the advent of life settlements, if a person was interested in cashing out his policy, he had only one buyer. It

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

Combination pro

has been compared to a person who buys a house, and after years pass, and his circumstance change, he is able

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

o sell the house only to the original builder, and at the price the builder paid to build the home. It is not l

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

ikely this would be tolerated for very long.

This was the situation in life insurance settlements. In cases wh

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

n a policy holder's life situation changed to such a degree that his policy was outdated, he could take the cas

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

h value offered by the insurance provider that sold him the policy, and at whatever terms the provider dictated

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

That was his only option. There are a lot of ways that a policy holder's life situation could change. Loans ar

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

Following aspects would a

e repaid, some of his assets that contribute to his high net worth are sold off. Now, quite likely, he is over

dd to the challenges in developing combination products:

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

nsured. The cash value of that policy could contribute to other investment opportunities more in line with his

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

financial plan. It is now possible to basically sell the policy to the highest bidder, and take the cash settle

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

ent, called the life settlement, and reinvest it in a more appropriate policy. He is then free to utilize the r

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

emainder however he wishes.

The concept of life settlements began in Canada a few years back, and rapidly spre

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

Professional from academic institutions, pharmaceutical industries, health care indust

d to the United States, and then on to most of the world. Now, most of the major insurance firms, and quite a f

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

ew Financial Investment agencies have begun programs geared toward life settlements. It is a growing resource 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

at provides another option to the senior citizen in his quest for financial security, and with the increasing n

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

Companies that provide selfless information through particip

umber of seniors it is a growth field that will become more and more popular and well known in the coming years

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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