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While many people are with their bank because they’re used to them or because it seems like an unwanted hassle to change acco

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

unts, there can be benefits to shopping around. And just because you keep your main account in one bank, there’s no need to k

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

Examples of combination products may in

eep all your accounts or credit cards with one firm.

If you have a poor credit rating or a large overdraft, you may find it

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

harder to change banks, but some banks will ‘buy’ your overdraft from you, or offer to convert it into a loan. For a small fe

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

you can request details of your credit rating from Equifax or Experian – the two leading credit reference agencies.

Conveni

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

Combination pro

ence

Depending on your circumstances, you may find you’d be better off with one of the new internet banks, like Smile or Cah

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

oot. These can give better interest rates, because they have lower overheads than high street banks that have to run branches

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

in ‘real time’. On the other hand, you may rather stick with a large bank you know and trust – perhaps you have a good rela

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

ionship with your branch manager and can expect extra support when you need it. The larger banks also have plentiful local br

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

anches, which could be a plus point if you need to, say, pay in cheques frequently.

Terms

While interest rates are an impor

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

tant consideration, there are other factors to take into account when choosing a bank, such as bank charges. Some banks will

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

Following aspects would a

charge more than others, for example, if you exceed your overdraft limit or if a cheque bounces. Others will charge extra to

dd to the challenges in developing combination products:

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

rovide you with copies of statements. Check that the bank complies with the Banking Code, a UK body that promotes best practi

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

se in the financial sector.

Bear in mind too, that some banks will offer excellent terms for new customers in order to attra

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

ct your business, so it may be worthwhile swapping just to take advantage of these. You may find a lower-interest loan, for e

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

xample, with a new bank.

Bank policy and corporate ethos

Some institutions offer ‘ethical’ banking, so that you can be sure

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

Professional from academic institutions, pharmaceutical industries, health care indust

your money is not being used to fund companies who do not conform to certain criteria. The Co-operative Bank led the way in e

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

thical banking, but there are other banks and investment companies to choose from.

As well as the larger high street banks,

.

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

there are smaller banks, building societies and friendly societies to consider. While normally associated with savings, some

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

Companies that provide selfless information through particip

offer current accounts with attractive rates, and many of the new building societies are in fact indistinguishable from banks

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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If you are preparing a change you should first search for some specific elements in your company. They are easily to be found.

Marketing research helps businesses in identifying prospective markets and product value.

What is stage presence? Can it be learned? There are, undoubtedly, some ‘naturals’ in this field. The fine Welsh actor Richard Burton, for example, on his debut performance at 16, playing an extra scrubbing steps, was said to distract the audience from the Shakespearean play! Many actors commented on Burton’s extraordinary stage presence, in particular his stillness – the audience were drawn to him even when he was apparently doing nothing. Hypnotherapist Jim Sullivan discusses the fine art of projecting one's personality . . .

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