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If you expect to make any profit as a reseller or e-Commerce seller online, you have to be able to accept credit card payments online. The potential for genera

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

ting business any other way is too remote to consider. People are simply not willing to order online and then have to wait until you receive payment and assure

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

Examples of combination products may in

hat their check clears the bank before you ship the merchandise. People who order online are looking for quick and efficient service, and that means having a cr

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

dit card merchant account.

When the idea of e-Commerce first became popular in the end of the 20th century, it was usually through partnerships that your inter

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

et provider had, and what you purchased was billed to the same credit card that you used to pay your internet service. As eCommerce grew and merchants and resel

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

Combination pro

ers set up their own websites, it was no longer the internet service provider who handled payments, so the concept of eCommerce credit card processing was intro

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

uced. Of course, now we have expanded beyond that to shopping cart software and credit card merchant accounts that have the ability to process both e-Checks and

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

debit card transactions.

With so much emphasis on a credit card merchant account, the typical e-Commerce seller can be frustrated when trying to decide who is

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

the best choice as a solution to your dilemma of accepting a credit card payment online. With so many different choices, the only way to narrow it is to make a

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

ist of things that pertain to your individual situation such as:

• Average dollar amount per transaction
• Sales volume per month
• Typical credit ca

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

d (MasterCard, Visa, American Express, Discover
• Projected sales volume for the next six months to a year

By listing your needs, you will better be able

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

Following aspects would a

o select the right credit card merchant account. You don't want to jeopardize your profits by taking more or less services than you need because many credit car

dd to the challenges in developing combination products:

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

processing companies charge by the volume and type of cards you accept. Of course, if you are a new e-Commerce seller, you will not know any of those things, s

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

you may want to use the figures in your business plan and make adjustments later if necessary. You also may want to stay with just the two major credit cards u

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

ntil you determine what your needs are. If you find that you are caught in the middle and need to accept debit cards, but the cost appears prohibitive with your

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

credit card merchant account, you may choose to offer PayPal to your customers as another option. It isn't advisable to use this as your only option since it re

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

Professional from academic institutions, pharmaceutical industries, health care indust

uires an email address, and some of your customers may be borrowing a computer to place an order and don't have access to an email account on a regular basis.

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

he important thing is that you have to remember is that the future of your e-Commerce business depends upon you being able to accept credit card payments online

.

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

The profitability of your website is contingent about having the lowest possible rates, so you have to research before you make a decision. Take the time to do

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

Companies that provide selfless information through particip

your homework, and you will have a profitable e-Commerce website that earns money for you even when you are sleeping or on vacation.

Copyright (c) 2007 Jim Sak

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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