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The top ten insolvency hotspots.

You will never guess where they are?

You have to hand it to the tabloids for constantly reminding us of the ongoing debt crisis in

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

our country,

There were 107,288 insolvencies recorded in England and Wales last year (a rise of 60 per cent), the number of homes repossessed rose by 65 percent 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

17,000, our national debt is now ?1.3 Trillion BLAH BLAH BLAH and are figures we now hear daily !

However, the little known fact is the much mocked seaside sleepy

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

town favoured by retirees (some 26% of its population are retired) called Torquay is the insolvency "hotspot" of the UK. Surely not? Yes, it's true. More than one re

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

sident in 100 is insolvent making it the UK's bankruptcy capital.

Statistics show that the South cost and particularly the South West contains nine of the ten insol

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

Combination pro

vency hotspots including Plymouth, Weymouth and Bournemouth. This is, attributed to the high cost of living and low wages in these areas.

The South West also has a

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

high proportion of those who have evacuated city life and opted out of high-flying careers in bigger cities, and swapped them for the slower life invariably setting

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

up their own smaller business. Some of these also tend to fail due to lack of experience pushing up the figures still further.

In sleepy Torquay alone some 1,238 ar

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

e currently bankrupt out of an adult population of 117,000. It holds the unenviable record of the only town where more than 1% of the population is bankrupt. Hull, i

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

n second place is the only Northern area in the top ten. Northern Ireland has the lowest rate in the UK, closely followed by several of London's most prosperous area

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

s such as Wimbledon and Harrow.

So back to Torquay which also has a high unemployment rate at 6.8% compared to the national average of around 5%.

At this point I w

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

Following aspects would a

ill balance my article and point out that Torquay has 9 beaches and a lovely mild climate which attracts thousands of people each year. A place worth a visit, most d

dd to the challenges in developing combination products:

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

efinitely.

So onto the rest of the top ten insolvency hot spots. In order of insolvencies (and not numbers of fish and chip shops), they are:

- Torquay

- Kingston

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

Upon Hull

- Plymouth

- Bournemouth

- Eastbourne

- Newton Abbot

- Barnstaple

- Hastings

- Weymouth

- Truro

In the face of rising mortgages and interest rate

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

s, the number of people seeking advice for debt problems has rising by 15 per cent in the last year alone. The well known Citizens Advice Bureau reported more than 8

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

6,000 people through its doors in January alone seeking some kind of financial advice.

The Citizens Advice Bureau along with many other companies like IVA60.co.uk a

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

Professional from academic institutions, pharmaceutical industries, health care indust

re offering free advice to those with debt problems. Those with severe debt problems (usually over ?15,000 unsecured debt) can be offered an IVA. Individual Voluntar

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

y Arrangements are now a more accepted alternative to bankruptcy.

Finally, the next time you are walking along the seafront of one of Southern England's golden beac

.

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

hes, please stop and buy an ice cream or fish and chips. Remember the guy you are buying it from used to work as a Stock Broker in London and is about to go bust !

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

Companies that provide selfless information through particip

Brad Martin

Director

The Big Loan Company

http://www.bigloanco.co.uk

Source: Nick McDermott. Daily Mail.

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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