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In 2005 for the first time ever, plastic purchases topped cash purchases. Are we heading for a cashless society where credit cards replace cash altogether?

If it's up to the

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

card companies, the answer is an unqualified yes. As consumers get more savvy about handling credit cards and interest, the issuing companies for credit cards are finding thei

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

Examples of combination products may in

r profits from lending money shrinking. In defense, they're trying to cash in by encouraging consumers to use their credit cards for more and more transactions. The current ca

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

mpaign among most of the major credit card companies is encouraging 'small change' transactions, for which merchants end up paying 1-2% processing fees to the company. These '

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

micropayments' are expected to top ?20bn globally.

What does it mean for consumers? It means that it is becoming easier and easier to pay for even the smallest purchases with

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

Combination pro

plastic. In an effort to woo the UK credit consumers, many cards now offer cashback rewards for every bit of cash that you spend on your plastic. Paying for everything with 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

credit card is convenient, easy, allows you to track your expenses and offers you cash rewards for your patronage.

Where does that leave the UK consumer who has no credit ca

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

rds - or is unable to qualify for one of the major rewards cards? There are many options open to even those with damaged credit to take advantage of the convenience and safety

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

of plastic payments. Here are just a few of the options open to you even if your credit score is below par.

Bad credit credit cards Most major credit card

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

issuers offer so-called 'bad credit credit cards'. In general, they carry a higher rate of interest than those issued to 'typical' customers with good credit, but as the push

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

to gain more and more market share continues among the card companies, those limits are being relaxed. You'll find bad credit credit cards with APRs as low as 12%, though they

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

Following aspects would a

may carry an annual fee.

Secured Credit Cards Another option available to consumers with adverse credit ratings is a secured credit card. When you apply fo

dd to the challenges in developing combination products:

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

r one of these cards, you place an amount of money on deposit in the issuing company's choice of bank. That amount stays there to secure any purchases that you make. As long a

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

s you pay your accounts on time, it isn't touched - in fact, it will earn interest. You can increase your credit limit by adding more to the account, and eventually as you bui

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

ld a good payment history, you may receive an offer for an unsecured card at a lower rate of interest.

Stored value cards If you prefer not to deal in credi

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

t, but still want the convenience of paying with plastic - for online payments, for instance - a stored value card could be the answer that you need. Stored value cards are li

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

Professional from academic institutions, pharmaceutical industries, health care indust

ke bank debit cards with a credit card logo - except that they're not tied to any of your bank accounts. You can 'load' the card at a merchant's shop, by mail, via your bank a

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

ccount or another credit card. You'll pay a 'loading fee' to put money on the card, but you'll never pay any interest since you're not actually borrowing money - just putting

.

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 own money on plastic.

You can find credit card offers and compare them with each other online at comparison websites,

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

Companies that provide selfless information through particip

which list dozens of the latest credit card offers from all the major companies. You'll also find information to help you make a decision on the best credit card for your uses

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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