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There are millions of Americans out there who have paid off heavy credit card debt, and you may be one of them. To get rid of credit card debt, it won't be enough, however, to just make minimum m

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

onthly payments. In fact, you just need to do a little more than just paying the minimum monthly payments; you can save thousand of interests and shorten many years in settling your credit card d

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

Examples of combination products may in

bt. To give you a better picture how it work, let use a case study to elaborate the solution.

Case Study:

A friend of mine asked me to take a look at her monthly credit card st

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

tement; according to her, she has stopped using this credit card and try to pay it off, but feels like she isn't getting anywhere.

The credit card statement record shows her balance is $5218.00

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

and she is paying 18% of interest; and she is paying the minimum payment at 3.5% or $10 whichever is higher. Like many who confuse with financial matters, she thinks that as long as she stops usi

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

Combination pro

g the card and by just paying the minimum of monthly balance, her credit card debt will be cleared soon.

The Calculation Result:

If she has stopped using thi

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, and if she continues to make the minimum required monthly payment, as she has been, based on the way her bank calculates her minimum required monthly payment.

It will take her 181

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

months to pay off her current credit card balance of $5,218.00 and she will pay a total of $3762.35 in interest.

In other words, if she continues doing what she has been doing. It will take her

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

5 years and cost her $8980.35 to pay off her $5218.00 credit card balance. No wonder she feels like she is not getting anywhere.

So, what should she do?

Actu

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

lly, it quit simple, if she able to pay the minimum payment of $5,218.00, which is $181.37, which means this is her affordable amount. Instead of paying the minimum payment as defined by the cred

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

t card company, she continues to pay $181.37 from now on.

As the result, she will pay off this credit card in 43 months instead of 181 months and she will pay $1635.45 in interest instead of $37

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

Following aspects would a

62.35 in interest, saving $2126.90 in interest charges. See the different?

What she can more?

If she really wants to go for it, she could

dd to the challenges in developing combination products:

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

ncrease the amount of her "new" self-imposed minimum required monthly payment. For example, if she were to start paying an additional $18.63 a month for a total of $200.00 a month.

She will pay

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

ff this credit card in 34 months instead of 181 months and she will pay $1428.30 in interest instead of $3762.35 in interest, saving $2334.05 in interest charges.

If she were to start paying an

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

additional $68.63 a month for a total of $250.00 a month, she will pay off this credit card in 26 months instead of 181 months and she will pay $1071.09 in interest instead of $3762.35 in interes

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

, saving $2691.26 in interest charges.

If she really wants to eliminate her credit card debt as soon as possible and her financial is able to support it, she could double the amount of her "new"

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

Professional from academic institutions, pharmaceutical industries, health care indust

self-imposed minimum required monthly payment. If she were to start paying $362.74 a month instead of $181.37 a month, she could pay off her credit card balance in 17 months.

In Summary<

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

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There are a number of things she could do, but this is one of the simplest and it's something she can start doing right now to b

.

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

gin eliminating her credit card debt. You can do the same to start eliminate your credit card debt.

If all you do is stop charging on your credit card and continue making the same minimum requir

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

Companies that provide selfless information through particip

d monthly payment you will be making on your credit card this month, every month from now on, you will make significant progress towards totally eliminating your credit card debt once and for all

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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