Advice Pool - Finance

A residual income is one that comes in no matter what--even when you are not working (or can't work.) It's something all of us will someday want and possibly nee

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.

There are several paths to creating a residual income. I am going to quickly give you three ideas on how to get it done:

1. Invest small amounts of money ov

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

Examples of combination products may in

er a long period of time.

Doesn't sound to exciting, huh? Well, just take a trip in a time machine with me...

Imagine your parents had begun putting away just

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

$1 a day into a fund for you since the day you were born. If they had followed some simple rules, here is what you would have:

• At age 20 - $ 38,171.10
•

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

At age 30 - $ 161,834.23
• At age 40 - $ 662,120.60
• At age 45 - $ 1,334,221.99
• At age 50 - $ 2,686,057.96
• At age 55 - $ 5,405,082.95

I

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

Combination pro

think we'll stop there--you get the point.

What if you're 30 and haven't been doing this? Start today and you will have another $327K by the time you hit 65--p

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

ut away $3 a day and you could have an "extra" million.

If you want to really see how exciting this concept can be, I have a report by Bob Allen on the specific

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 you can download as my gift by Bob Allen Report

2. Use other people's money to leverage wea

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

lth.

If you never use other people's money to help you build wealth, you will limit your wealth potential.

The amount of money you have to invest in a new vent

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

ure is always limited--the amount of money other people have to invest in that same venture is virtually UNLIMITED.

Gary Halbert, the master copyrighter, uses t

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

his technique. Whenever he takes on a new client, he gets an up-front fee and 5% of the gross revenue from the promotion. So, he gets the benefit of the sales ge

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

Following aspects would a

nerated by a huge investment of capital on his client's part--and it continues to come in after he has already completed the work.

Keep in mind that 5% of $1,00

dd to the challenges in developing combination products:

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

0,000 in sales generated by his work is much more than 100% of his $15,000 fee.

3. Create strategic alliances.

Have you ever noticed that the same people seem

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

to be on the "inside track" when it comes to new products online--and that often you seem to be the last to know? Here's why:

There are a relatively small group

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

of people who have large lists and have created strategic alliances with one another. When a new product is about to be launched, they get on the phone and put

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

together a promotion that allows them to be first to the marketplace and get the lion's share of the profits.

But before you think, "Well, I can't get into THAT

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

Professional from academic institutions, pharmaceutical industries, health care indust

club," let me point something out: Joe Kumar, a kid from Singapore, did what almost no one does--he simply asked for admission.

And he got in, resulting in abo

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

ut $100K in sales his first full month of promoting.

To see more about Joe's story at 30 Days

.

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

Get on the phone, give a call to some "big names" on the Internet. You might just develop an alliance that will put you on the *inside* rather than out in the c

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

Companies that provide selfless information through particip

old.

There are many ways to build a passive income. Three are detailed above--there are many others. Find one that fits you and pursue it. It's worth the effort

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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When it comes to bad credit and home loans, you’ll think of all of the negative things you have heard. All of these messages come from major lenders, most mortgage brokers and the media, and unfortunately, a lot of what is being said is untrue.

What is article submission? OK, you have a business to run. You have a product or a service that you wish to sell. You are internet based and therefore must become accustomed to the internet way of business.

Nearly everyone knows the web, and it is one of the few endearing technologies that have survived the heady days of the 1990’s with its reputation and luster intact. What is dangerous about the aura of wonder surrounding the web is that generally sensible businesspeople occasionally forget all the rules surrounding marketing, effective copy writing and customer targeting that instantly come to mind with any other communication medium.

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