E-Articles - Finance

Believe it or not, I’ve been in debt. BIG DEBT. I mean, there were times when I would look for things to sell just to pay the bills.

It was the worst feeling in the world!

I always had

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

stacks of unpaid bills, creditors calling me and a real uneasy feeling in my stomach. And I wasn’t the only one. It seemed like everyone I knew had the same problem. The truth is, deb

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

Examples of combination products may in

has reached epic proportions in our society. Whether you're rich, poor, or somewhere in the middle, chances are you've got debt that's working against your dreams of financial independe

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

ce.

But it doesn’t have to be that way. In fact, I want you to take some action today to start getting out of debt. You’ll be AMAZED at how much better you feel when you don’t have bill

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

hanging over your head. (And you don’t have to win the Power ball jackpot to get out of even the most unbearable debt!)

I’ve been there, and now I’m debt free. Here a few tips I used a

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

Combination pro

long the way:

1. If you're in over your head with multiple credit card accounts, you need to destroy your cards right away. Just keep one card for emergencies. Remember, credit cards h

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

ve compounded interest – so you actually get charged interest ON INTEREST! So, don’t use them unless you can pay them.

2. Pay more than the minimum payment every month – in fact, pay as

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

much as you can. Money in your account isn’t making you money as fast as your unpaid credit card debt is losing you money!

3. Pay off the credit card with the highest interest rate fir

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

t and pay the rest in descending order. If you tackle the biggest money drain right away you could make a huge impact on your cash flow in a matter of one month.

4. After you pay off on

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

credit card, don't let up. Apply the money you've been paying that particular company to paying off another credit card or another outstanding bill. Set a “credit pay-off budget” and st

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

ck to it as you pay down cards. Once you get to the last one, it will seem easy!

5. Don’t “rotate” your debts – pay every one every month. It’s easy to pay a few on time one month, and

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

Following aspects would a

switch around for the next month. That just keeps you further behind.

6. If you own a home, consider taking out a home equity loan. You could save hundreds, possibly thousands of dolla

dd to the challenges in developing combination products:

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

s by paying off your high-interest credit debt by moving those balances into a fixed-rate home equity loan.

7. Pay additional money towards your mortgage principal. This can add up to

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

ens of thousands of dollars!

8. Open a savings account or an IRA with some of the funds you were dedicating to a now-paid credit card. Special tax-protected investments like an IRA can

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

ave you thousands in taxes over the years.

9. Consider debt consolidation. It could help you to consolidate and pay your debt off more quickly. Beware of companies that make unbelievabl

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

promises about "fixing" your credit, though - at best, they can be very expensive. At worst, they can be fraudulent. You might be best off consulting with a reliable non-profit credit c

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

Professional from academic institutions, pharmaceutical industries, health care indust

unseling agency first, such as Debt Counselors of America (DCA) - www.dca.org

10. If you need help along the way, contact the Consumer Cr

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

dit Counseling Service (1-800-388-2227). They will help you organize and consolidate your debt.

I know you're focused on financial success and maximizing your wealth. Don't overlook how

.

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

much your debt can undermine your efforts to get ahead. If you take even a few of these tips to heart, you'll soon be well on your way to a debt free, financially successful future. I k

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

Companies that provide selfless information through particip

ow you can do it!

Warmly,

Russ Dalbey
The Dalbey Wealth Institute

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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