Answers - Finance

Your individual retirement account could be your best investment

Because you get the benefit of tax free investments, an individual retirement account could easily outperform y

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

our other investments. Add to that the fact that you will be investing over a long period, so you will get the benefit of compound interest, and you will see the benefits of an

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

Examples of combination products may in

ndividual retirement account.

There are two important points about this form of investment: 1.You need to invest long term – that is, start when you are young, preferably unde

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 30. Don’t leave it till you are 55 to start an individual retirement account. 2.You must invest in a conservatively managed fund so you don’t wake up one morning and find you

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

fund has halved in value. This has happened.

11 types of individual retirement accounts

There are 11 types of individual retirement accounts, but most of these are for differ

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

Combination pro

ent groups, such as corporations. For individuals there is either:

The standard individual retirement account, which is invested through a bank or broker, and can be invested i

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

various securities;

Or the Individual Retirement Annuity, which is invested through a life insurance company and provides an annuity – an annual income – at the end of the 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

erm.

For income up to $160,000 a year the individual retirement account is a good investment

An individual retirement account is the way to save for your retirement if you hav

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

an earned income which is less than $160,000 – over that level you don’t get any tax-free investments, so a Roth individual retirement account is usually better, The thing is t

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

hat although you don’t pay tax on money you put into the individual retirement account – up to fairly low limits – you do get taxed on the proceeds. Whenever you withdraw funds,

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

it counts as income, which is why the money from your individual retirement account is taxed.

It is worth remembering that there is an advantage to putting money into an indivi

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

Following aspects would a

dual retirement account even if you don’t get the tax deduction. You see, say you put $4,000 in without a tax deduction, you will be able to withdraw that and the interest, etc

dd to the challenges in developing combination products:

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

hat has been added tax free.

So the standard individual retirement account has some benefits. This one is particularly useful if you start off on a lower income, and put quite

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

a bit into your individual retirement account, and then go over the $160,000 level.

You can put $4,000-$5,000 a year into the account

You are allowed to put up to $4,000 into

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

our individual retirement account in 2006 and 2007, but $5,000 in 2008. If you are over 50, you may add $1,000 ‘catchup’ amount. So you can see that an individual retirement acc

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

ount will not give you a good income unless you start squirreling money into at a young age.

If you take the money out before you are 59.5 years old, you will pay an extra 10%

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

Professional from academic institutions, pharmaceutical industries, health care indust

ax on it! Not a good idea – it could take a hefty chunk of your profits with it. However, there are some exceptions to this rule, such as if you become disabled.

Also, you must

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

start withdrawing funds when you reach 70.5 years, starting the following April. Do pay attention to the rules to get the best from an individual retirement account.

Disclaime

.

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 information on this web site does not constitute an offer in any way. It gives general information, but is not financial advice. The aim is to help you decide what to do a

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

Companies that provide selfless information through particip

bout your retirement plan, and the importance of saving for retirement. You should consult a retirement planning adviser with a proven record before setting up a retirement plan

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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Answers - Individual Retirement Accounts (IRAs)

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