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So, you’ve got a credit card? Its outstanding balance is ?1,000, and each month, although

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

you intend to pay more, you end up simply paying the minimum payment (which is usually be

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

Examples of combination products may in

ween 2% and 3% of the balance, depending on the credit card company).

So how long will it

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

take you to clear the debt assuming a 2% payment each month, and a (quite tame by credit c

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

rd standards) APR of 14%? 2 years? 5 years? No, it would take a staggering 19 years<

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

Combination pro

b> to pay off the debt, and that’s assuming you never use the credit card for any other pu

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

rchases. Not only that, but in that time you will have paid well over ?1,000 additiona

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

interest, effectively doubling your debt.

But of course, that’s why the banks set th

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

minimum payment as low as they can. The longer it takes you to pay off your balance, the

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

more they get from you in interest. If they increased the minimum amount to 5% per month

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

ou’d pay the debt back in 6 years, and save nearly ?1,000 in interest.

Recently the gover

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

Following aspects would a

nment has tried to get credit card companies to state clearly on statements that paying th

dd to the challenges in developing combination products:

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

minimum will increase the length and cost of the debt, however few do, and the ones which

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

do will generally say something along the lines of “Paying just the minimum is not recomme

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

ded”. Nowhere will it tell you it’ll take 19 years to pay off ?1,000.

Ideally of course,

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

you should avoid paying any interest at all, and that generally means paying off your bala

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

Professional from academic institutions, pharmaceutical industries, health care indust

nce in full each month, however that’s not always possible. But even a little extra each

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

onth helps. In the 19 year example, paying just an additional ?10 each month would reduce

.

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

the debt to zero in just over 5 years, and would save you over ?750 in interest.

So the n

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

Companies that provide selfless information through particip

xt time the credit card statement lands on your door mat, please pay more than the minimum

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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