Subjects - Finance

If you want to help yourself get out of debt by negotiating with your creditors on what you owe

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'll need to get organized and put a well thought out plan together. This is serious bus

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

Examples of combination products may in

ness and essential to a successful negotiation with your creditors. So what do you need to do

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

o make it happen?

First of all, your debt relief planning and organizing should include the f

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

llowing:

* A complete and detailed list of all of you debts

* A prioritized list of these de

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

Combination pro

ts. Put the creditors in order of who you want to negotiate with first. You'll also want to

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

include what you will ask for from each creditor.

* Review or create your budget. Yeah, crea

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

ing a budget is no fun, nor is living by one. But that's why you're hear in the first place.

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

This doesn't mean you have to budget forever but if you want to get out of debt, you'll have to

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

make certain sacrifices. You'd be surprised at the amount of unaccounted for money slipping t

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

rough your fingers each month on things such as Starbuck's coffee, bagels, magazines, etc.

*

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

Following aspects would a

Gather all your financial information

Let's look at the first thing on this list - a complet a

dd to the challenges in developing combination products:

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

d detailed list of all your debts. You'll need the following information for each debt:

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

The amount you are supposed to pay each month
* The name of the creditor for this debt

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

> * The outstanding balance of this particular debt
* The debt's interest rate
* M

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

ke a note on each debt where you stand with the debt - current or behind (and how far (and how

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

Professional from academic institutions, pharmaceutical industries, health care indust

much( behind)

Is your debt secured or unsecured? You'll want to make a note of that, as well

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

s the asset that secures it if it's a secured debt.

When listing your unsecured debts, list the

.

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

by highest interest rate first, down to the lowest interest rate.

In Debt Relief - Get Out of

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

Companies that provide selfless information through particip

Debt Through Negotiating With Your Creditors - Part II we'll look at the next steps on the list

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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Subjects - Debt Relief - Get Out of Debt Through Negotiating With Your Creditors - Part I

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