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Top Adding - Bury the Debt Monster - Part Three
You knew at some point we’d have to use the “B” word. That dreaded word that rhymes with “fudge-it”. Unfortunately, in order for you to successfully bury the debt m
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
onster and regain (or create!) financial independence, it’s necessary that you don’t fudge your budget.
Budget’s have gotten a bad rep because some people make them
Budget’s have gotten a bad rep because some people make them
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
more complicated than they need to be, but there’s no reason to lie here: having to account for your money is no where near as fun as spending it on anything wheneve
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
r you want. You just have to decide if you are committed to eliminating debt or if you’re going to let the “b” word scare you off.
Lesson 3: A Budget You Can Li
Lesson 3: A Budget You Can Li
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 With
When creating your first budget, or one that you are dedicated to live within, the first thing you’ll want to figure out is how much money you have each m
When creating your first budget, or one that you are dedicated to live within, the first thing you’ll want to figure out is how much money you have each m
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
onth after you pay all the necessary, monthly expenses.
Create a new list! This time, you’ll want to make a list of your monthly expenses. Include everything from
Create a new list! This time, you’ll want to make a list of your monthly expenses. Include everything from
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
your car payments to your rent or mortgage payments to utility bills and food. Some bills may only come every three months, and some bills may not be exactly the sam
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
each month, but make your list with monthly amounts by figuring out how much each bill is on a monthly basis. If your car insurance is paid every three months, just
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
divide the amount of your payment by 3 in order to get the amount you would pay monthly. If your electricity bill fluctuates throughout the year, figure out the tot
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
al amount you pay annually, and then average it over 12 months to figure out your monthly average bill- and pad the payment by a few dollars just to be sure!
Add up
Add up
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
he total of all of your monthly expenses to get your total “must pay each month” figure.
Above it, write down your total income. For simplicity sake, just write dow
Above it, write down your total income. For simplicity sake, just write dow
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
n your income that you actually receive, and don’t worry about what is taken out for insurance or taxes or any of that. If you’re married, combine your after-tax inc
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ome with your spouses to get a total monthly income.
Subtract your total monthly expenses from your total income. This is the amount you have left over each month (
Subtract your total monthly expenses from your total income. This is the amount you have left over each month (
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
hopefully it is a positive number!) after you’ve paid all of the necessities, and it is called “discretionary income”.
Discretionary doesn’t really mean discretionar
Discretionary doesn’t really mean discretionar
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
though! This “leftover” money is what you use for expenses that don’t really come out of your income monthly, like vacations, clothing, automobile or home repairs,
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
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
gifts, etc. It’s also where you get the money for your savings account.
If you find that you have no money left over at the end of each month, or that you make less
If you find that you have no money left over at the end of each month, or that you make less
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
than you must pay out monthly, you need to make some adjustments. You may have to cancel the cable television bill, or get another job for a while until things are
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
mproved. If you don’t take steps to remedy this situation, you will not have any hope of making more money than you spend and therefore, no hope to eliminating the d
.
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
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
ebt monster.
On the other hand, if you have a positive number of discretionary income, you can then multiply that number by 12 to get your annual discretionary incom
On the other hand, if you have a positive number of discretionary income, you can then multiply that number by 12 to get your annual discretionary incom
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
e. With this number, you can divide up this money into the “odds and ends” that must be paid for, from entertainment to cable tv, to car repairs and holiday shopping
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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