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Budget is the one word most of us ignore in our daily lives. Whether it is a question of spending a few dollars on weekly laundry bill or movin

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

g in to a new house; most of the time people react impulsively and give attention to the instant need of the hour rather than spending accordin

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

Examples of combination products may in

to the available resources. It is all right to make a few instant decisions considering the severity of the situation, but it should never be

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

he usual practice in the financial matters.

If you are looking for solutions to the financial problems that keep you, awake at the middle of t

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

e night, Financial Planning is the solution. If someone is looking for a healthy and happy life, it is important to consider the money spendin

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

Combination pro

habits and tracking down the areas of improvement.

It always pays off to follow a ‘self made’ expenditure plan, rather than taking help of a

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

oftware available in the market in order to avoid financial instability in general. To simply manage your budget, you may keep the following t

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

ps in his mind:

· Shortlist all the most essential (almost fixed) expenditures, like house rent, electricity and phone bills. Keep aside suffi

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

ient amount of money to meet those requirements without any delays. · Make a list of the regular items like grocery, cigarette, car rentals et

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

. and allocate the required amount under each separate head.

· Any special occasion like birthdays, anniversaries etc. need special planning a

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

d save in advance, in small amounts, for those specific purposes.

· Review your past credit card bills and find out the instances of unnecessa

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

Following aspects would a

y expenditures. It is always advisable to keep the credit card usage at the minimum and only for the most essential purposes.

· Make a list of

dd to the challenges in developing combination products:

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

those items, which you think are necessary, but need sufficient cash or credit to purchase. Make a pool of money for such items and save monthl

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

or weekly as much as you can. · Save or invest as much as possible, at a very regular interval.

· Also, make a buffer pool, which will take

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

are of any unplanned or emergency expenditure. Move the unspent amount to the savings account.

· Under each separate head, allocate your budge

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

and on every occasion, you must know under which head, how much you are spending.

· Keep a daily cashbook and update the short and big amount

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

Professional from academic institutions, pharmaceutical industries, health care indust

you spent through out the day. On weekends update your budget with the spent amount under each head and you may plan the next week(s) accordin

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

to the balance left.

· Avoid paying interest on credits at any cost.

The financial plan may be for a long term or a short term depending on

.

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

our choice. However, it is better to have a plan than not having any. As no one can understand your needs and personal goals better than you ca

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

Companies that provide selfless information through particip

, it is the best thing to make yourself your own financial adviser. Spend a few hours weekly with your hard earned money and see the difference

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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