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Credit cards are so much a part of everyday living that it is hard to imagine what life would be like without them. But if you find yourself sinking deeper an

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

d deeper into debt and are looking for a way to escape, you need to make a plan that over a period of time will bring your finances back on to a sound footing

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

Examples of combination products may in

While the banks do all they can to encourage you to increase your borrowing by setting low minimum monthly payments and sending you countless pre-approved of

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

fers for new cards, your plan must counter their efforts and start to reduce your debt burden.

The first step in reducing your credit card debt is to stop it

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

increasing. Stop using your cards, if necessary by cutting them up. If you need to keep one card for emergencies, keep it somewhere that requires effort to re

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

Combination pro

rieve it. You could lock it in a safe or freeze it in a glass of water. At the same time you want to remove the temptation of pre-approved cards coming throu

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

gh the post. Contact Equifax or one of the other credit bureaus to stop these mailshots.

Use cash for your regular spending. Half the trouble with credit car

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

s is that when you spend plastic, it does not seem like real money. Handing over dollar bills will tend to concentrate the mind. For those expenses where it i

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

impractical to pay with cash, use a debit card.

Avoid the minimum monthly payment trap. Because it is the minimum, you know that you have to pay this amount

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

, and so you tend to do so out of habit, which is just what the banks want you to do. Depending on the interest rate the balance on your card will increase e

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

en if you do not make any new purchases. At best it will take you several years to clear the debt.

Reduce your credit card balances with a planned strategy.

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

Following aspects would a

here are various names for this approach, Cascade, Credit Crunch and Snowball are three, but they all amount to the same thing. Take all your credit cards and

dd to the challenges in developing combination products:

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

check the interest rate charged on each. Make a list with the highest rate card at the top. Then pay as much as you can manage each month on the top card whi

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

e paying the minimum monthly payment on the rest. Once the top card has been paid in full, repeat the procedure with the next card on your list. This is reco

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

nized as the quickest way to clear your debts.

If you have any savings, consider using some of these to reduce your card debts. Your savings may be earning y

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

ou 5% or 6% but your credit cards will be charging you 18-20% so it is easy to see which is better value. For the same reason it makes no sense to try and sav

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

Professional from academic institutions, pharmaceutical industries, health care indust

while you are paying off your credit cards.

Look out for ways to reduce the interest you are paying. It may be possible to transfer the balance from a high

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

ate card to one that charges a lower interest rate. If you tell the card company that you are thinking of a balance transfer, they may agree to reduce the rat

.

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

e so that they can keep you as a customer.

Getting out of credit card debt is not easy but if you make a plan and stick to it, you will see results. Your pro

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

Companies that provide selfless information through particip

ress will be slow at first, but when you see your first card repaid, you will realize that the strategy is working and that with perseverance you will succeed

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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