Useful Advices - Finance

Negotiating with creditors is an important and compulsory part of any debt case. It can be difficult and may take a long time.

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

You should think over the arguments you will use when negotiating and get ready to answer questions about the types of debt you

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

Examples of combination products may in

have (priority, non-priority debts or both), about the assets you can sell, about any income available and the possibility to i

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

prove your financial situation. It's also quite common for creditors to ask for details of the income of your partner (they wil

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

expect he/she to make some contribution to pay off your debts).

You need to be clear about what you want the creditors to agr

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

Combination pro

ee to. You should be realistic about your financial state and about what you can offer. If you are not likely to get better pai

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

job in the nearest future, you may only be able to offer very small amounts to each of your non-priority creditors.

As for pr

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

ority creditors they will hardly be as flexible in what they will agree to as non-priority creditors. You should be aware of th

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

fact that they can take stronger legal action against you. You also must remember that, when paying off priority debts you wil

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

l have to pay off the amount you are currently liable for, as well as putting something towards the arrears.

When you start wo

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

king out what to offer to the non-priority creditors you need to acknowledge that the amount of the offer should correspond to

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

Following aspects would a

he size of the debt: the bigger the debt, the bigger your offer of repayment should be. By the way you can do this if you have

dd to the challenges in developing combination products:

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

nough money available in the budget after essential expenditure.

You need to explain to your creditors why you offer to repay

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

in this or that way. You should find the common view on the regular payment intervals (whether you pay weekly or monthly). Tell

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

the creditors the truth about your financial situation and about the types of debts you have. If you have priority debts make i

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

clear to the creditors that you are going to pay them off first.

Sometimes creditors will not accept your offers first and wi

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

Professional from academic institutions, pharmaceutical industries, health care indust

l try to make you pay more than you can afford. They may ask for the budget and say that you can afford to pay more than you of

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

fer. You may provide evidence of your income in such cases (wage slips and benefit details) and expenditure.

If creditors do n

.

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

t accept or reply to your offers, start paying them what you can afford anyway and seek advice from an advice agency. If you do

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

Companies that provide selfless information through particip

't feel confident when negotiating with your creditors or it's too difficult for you, you may also contact a free advice agency

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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