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Webster’s Dictionary defines ‘annuity’ as ‘a sum of money payable yearly or at other regular intervals.’

When an employee

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

retires after several years of work, the employer offers monetary retirement benefits as a gesture of gratitude for the emp

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

Examples of combination products may in

oyee’s services. Cash balance plans, pensions, profit sharing plans and stock bonus plans are examples of such retirement

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

enefits.

As this monetary package is usually a lump sum, many people find it difficult to manage it wisely. Many people

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

nvest the money in something that doesn’t yield the deserved revenue. How best can a person utilize the retirement package

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

Combination pro

? Our article addresses this question.

Retirement benefits are like a brand-new car that the employee uses to drive back

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

ome, the day he or she retires. The well-being of the employee in the car depends on how well he or she manages the vehicl

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

.

Let’s imagine someone named Jane, who retires from an office after several years of work. She likes to invest her retir

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

ment benefits in something that’ll fetch income on a regular basis. She invests her money in an insurance company by worki

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

ng out a mutual agreement between her and the company. According to the agreement, the insurance company makes periodic pa

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

ments to Jane. The payments may begin immediately or at some future date, depending on the terms of the agreement. The in

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

Following aspects would a

urance company ‘sells’ an annuity to Jane.

Sometimes, even people who have yet to retire go in for purchasing annuities as

dd to the challenges in developing combination products:

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

a means of saving for their `rainy days.’

There’s a difference between life insurance and life annuity. In life insurance

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

, beneficiaries collect the insurance amount after a person’s death. In an annuity, the person himself collects the annuit

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

amount when he lives, and thereafter his nominees collect a certain amount after his death.

There are two types of annuit

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

es: fixed and variable. The rate of return in a fixed annuity is fixed, whereas in a variable annuity it is flexible and c

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

Professional from academic institutions, pharmaceutical industries, health care indust

anges according to financial market conditions.

There are two options under which an investor can buy annuities: deferred

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

and immediate. In a deferred annuity, payments to the investor begin after retirement. In immediate annuity, the payment

.

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

can be made before retirement. In some annuities, the investor doesn't need to pay taxes on the income earned by this mon

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

Companies that provide selfless information through particip

y until he or she retires.

To put it in a nutshell, annuities assure regular income to the investor in his or her lifetime

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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