Others - Finance

In parts one and two of this debt relief series we talked about the first two things you ne

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

ed to get taken care of when it comes to negotiating with your creditors. Now, we'll look

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

Examples of combination products may in

t the third thing on that list, reviewing and creating a budget. Why do you need a budget

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

hen negotiating with your creditors?

In order to get out of debt and get a little debt rel

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

ef from your creditors, you need to put together a budget. You need a budget so you can ha

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

Combination pro

e concrete numbers you can use to come up with the terms you will need from your creditors

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

that you can stick to in order to help you pay off your debts.

By having a budget, you'll k

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

ow what payment terms from your creditors you can realistically stick to. You don't want t

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

negotiate better terms with your creditors only to find out a month or two down the line t

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

at you don't have the money to make those payments. They won't be happy and won't negotiat

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

with you again and then you'll be in more debt trouble than you are now.

By knowing your

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

Following aspects would a

udget, you'll be able to negotiate concrete terms on the following:

* How much you may ne

dd to the challenges in developing combination products:

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

d to lower your monthly payments and whether this will be on a temporary or permanent basis

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

* The lowering of your interest rates

* Whether or not you may need to make interest onl

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

payments for a while and for how long

* Getting certain fees waived or lowered

* Get c

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

ught up on the amount due if you are late by adding that to the end of a loan instead of ha

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

Professional from academic institutions, pharmaceutical industries, health care indust

ing to get caught up at the beginning

You won't be able to negotiate any of these things if

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

you don't know what your budget is and what you can afford to pay on an ongoing basis.

I k

.

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

ow it's not a lot of fun but really take your time to analyze your finances before negotiat

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

Companies that provide selfless information through particip

ng with your creditors so you'll know exactly what kind of terms you will be able to handle

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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Whether you are seeking capital for your company or are optimizing your business strategy, the most important element - particularly for outside investors - may be your written business plan. You can tune-up and supercharge your plan using this 19-step checklist. When your written plan firmly answers yes to each of these 19 questions, your market/product strategy is in terrific shape plus you increase the odds of attracting investment capital.

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Others - Debt Relief - Get Out of Debt Through Negotiating With Your Creditors - Part III

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