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Annuity is a fixed amount of money received for the whole life or a definite time period sp

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

ecified and agreed upon, in the contract. A savings account is the most common example of a

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

Examples of combination products may in

n annuity, where the annuitant deposits the principal amount of money to earn a certain per

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

centage. The annuitants may invest this money in business, insurance companies or lend it 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

individuals. The percentage of the income is specified at the time of agreement. This serv

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

Combination pro

es as a partial return of the principal amount and an additional income, simultaneously.

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

n case of group annuity contracts, the periodic payments are made to one of the employers,

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

overed by a master contract signed by the employer. Retirement annuities are paid only post

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

-retirement. In case of the annuitant?s death, before the expiry of the agreed period or th

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

e annuitant?s decision to surrender the policy, a certain amount is paid back to the annuit

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

nt?s beneficiary.

A fixed annuity refers to a specific amount of payment after the defined

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

Following aspects would a

period, irrespective of the financial crisis faced by the company. In case of a variable a

dd to the challenges in developing combination products:

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

nnuity, the payment amount depends on the success of the investment and fluctuates accordin

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

gly. Straight annuities are contracts for making variable payments on a monthly or yearly b

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

sis, while life annuities are paid only during the lifetime of the annuitant and ceases wit

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

h death.

Deferred annuity payments commence on a decided future date, provided the annuita

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

Professional from academic institutions, pharmaceutical industries, health care indust

nt is alive. This also delays the income tax payments till the annuity payment starts. A re

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

und annuity promises to refund certain amount of cash during the lifetime of the annuitant

.

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

and in case of death the person?s estate receives the money. Joint annuities are payable to

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

Companies that provide selfless information through particip

two persons named in the agreement, one of whom receives the money, in case the other dies

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 - A Guide to Annuity Products

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