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One of the most popular credit card reward programs available today is the cash back credit card. These will give you a cash rebate every time you make a purchase. The best

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

cash back credit cards appeal to many and would even include no annual fees and a 0% interest APR for up to 15 months. Imagine taking an instant discount every time you make a

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

Examples of combination products may in

urchase on your cash back credit cards. Depending on where you shop, those savings could add up to a considerable sum.

Cash Back

The most basic benefit from a cash back cred

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

t card is your rebate from every purchase. Most companies give a 1% rebate on all purchases. However, some programs will give up to a 5% rebate on such purchases as groceries

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

drug store purchases, and especially gasoline. You have to spend these amounts of money anyway, so why not get a rebate for it? However, there are savings beyond what we have

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

Combination pro

entioned here.

Savings

Here is an example. Let’s say that, over a month, you spend $500 at the grocery store, $100 at the pharmacy, and $150 filling up your car with gas. Y

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

our total spending during this month would be $750. If you get 5% back for these sorts of purchases from your best cash back credit card, you can save $37.50. If you had to s

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

end this much every month, you would have saved $450. In other words, you’ve saved half of one month’s expenses over the course of an entire year, and just because you chose t

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

benefit from a cash back credit card.

$450 is pretty cool….but should I really switch?

You would not be able to notice the slight difference of 1% or even a 5% on your cash

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

ack credit card; but over a period, your cash back credit cards could actually make you money… increasing your nest egg incrementally. In a way, every time you buy groceries,

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

ou are putting money into your savings.

If you can pay your balance off every month, and do not need a zero or low interest rate card, cash back credit cards can work for you.

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

Following aspects would a

Your cash back would even cover your interest payments – let the poor money managers pay you. If you do not pay your balance off, your rebate can go toward paying down your

dd to the challenges in developing combination products:

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

xisting balance, so that less of that has to come out of your own pocket. Make sure that you read the fine printings, because fees for late payment and going over the limit co

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

ld be steep.

The first cash back credit card was issued about 15 years ago. The program was very simple – 1% of your purchases were rebated back to the customer at the end of

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

each year of membership by check, or by a credit to the account.

Now there are quite a few different types of cash back credit card programs. Some offer a simple percentage o

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

all purchases, some give a higher premium for different categories of purchases. Some programs deposit your rebates directly into your bank account, while others retracts it

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

Professional from academic institutions, pharmaceutical industries, health care indust

from your credit, or send you a check once your rebate amount reaches a certain dollar level. Pay attention to the more complex ones, as it can be confusing to track your reba

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

es by expenditure.

A cash back credit cards could not make you wealthy – after all, you are only getting back an infinitesimal amount of the money you spend, so this can never

.

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

be a source of revenue. However, since everyone has to spend money for everything from the necessities of life to the luxuries, it makes sense to maximize the return on that s

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

Companies that provide selfless information through particip

ending as much as possible. Cash back credit cards give you a chance to earn back some of the money you spend, and to put that money to use elsewhere in your financial picture

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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