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If you are like the vast majority of consumers, you understand how credit works, to a very limited extent. In other words, you have a line of credit so

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

mewhere, and as long as you do not exceed your credit limit and pay at least the minimum amount on time every month, everybody is happy. But there are

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

Examples of combination products may in

ome additional things about credit reports that you should know.

First of all, there are three major credit bureaus in the US – Experian, Equifax, and

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

TransUnion. Each of them maintain a credit report on you, including all past and present credit accounts and your credit history. But they do not shar

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

information between them, so each credit bureau has a credit score for you that is different. That is because not all creditors report to all three bu

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

Combination pro

eaus; in fact, very few of them report to all three.

Beyond that, how do inquiries into your credit report affect your credit score, or does it have an

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 effect at all? The answer is that it definitely has an effect, but the type of inquiry determines the level of effect. For example, if you yourself

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

pply for a new line of credit somewhere like for a new car or at a department store, this has the largest effect on your credit score. If you are appro

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

ed, then your credit score reflects the fact that you now have this new line of credit which has been approved and the very real potential to extend you

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

rself too thinly.

Sometimes a credit card company has a new product or service that they want to alert people to, but just people who meet their criter

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

a, which is aimed at the type of person that they have deemed most likely to be receptive to their new offering. This type of inquiry into your credit

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

Following aspects would a

eport is known as a soft inquiry, done without your permission or knowledge, just to see if you meet their criteria for sending their ad, and this type

dd to the challenges in developing combination products:

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

of soft inquiry has little to no effect on your credit score.

One of the other factors that can adversely affect your credit score is the number of "pu

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

ls" or inquiries on your credit report. Yes, even time an inquiry is made to your credit report, that fact is recorded and becomes a part of your credi

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

report with that credit bureau, also indicating whether it was a "hard pull" or a "soft pull". A large number of hard pulls on your credit report will

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

definitely affect it negatively, especially if those pulls do not result in a similar number of newly approved lines of credit.

The time factor is als

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

Professional from academic institutions, pharmaceutical industries, health care indust

taken into account. For example, having 25 hard pulls on your credit report over a three year period of time is not necessarily bad, but having those

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

ame 25 pulls on your credit report over the course of two months is definitely going to set off a red flag with the credit bureau and negatively impact

.

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

your credit score.

The bottom line is to not apply for credit ad hoc and at every opportunity. While it may result in a new line of credit, it may als

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

Companies that provide selfless information through particip

lower your credit score to the point where those new accounts are actually COSTING your more via a lower credit score than they are really worth to you

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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