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Answers - The Importance Of Investing Money For A Rainy Day
Money in my opinion is not the most important thing in life, but it is nice to know that you have a certain amount of money, saved or invested, which you can use if needed. I actually think that h
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
ealth and happiness are the two most important things in life. Having this pool of money helps to keep me healthy and happy, as it means that I do not have to stress as much about the future.
I o
I o
; 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
ly really realised the importance of investing and saving money, when I was twenty-three years of age. Up until this age, I would always spend all of my wages and did not care if I was overdrawn 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.
n the bank. I used to think that I could die tomorrow, so why bother about saving money which I might not ever use. This is a bit stupid, I know.
At the age of twenty-three, on one particular da
At the age of twenty-three, on one particular da
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
, I was having a conversation with a friend called Tim. He basically earned the same amount of money as I did and lived a similar lifestyle. Tim told me that he was thinking of buying a flat and t
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
at he was going to cash in his investment bond to help fund the move. I was very shocked that he even had a bond and asked him how long he had had the bond, and how he had managed to get the money
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
to put into it. I expected Tim to tell me that his parents had given him the money, but they hadn't, he had saved up the money himself.
Tim told me that he tries to save as much money as he can
Tim told me that he tries to save as much money as he can
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
er month and normally manages to save at least ?100. When he has a ?1000 saved in the bank, he then invests the money into a bond.
I was very impressed with Tim and I have to admit a little bit j
I was very impressed with Tim and I have to admit a little bit j
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ealous of his money. I then thought to myself, if Tim can save, then so can I. I set myself a goal of saving up a ?1000 and planned to do this within ten months. I had to be less wreckless with my
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
money and it would be a good test for me.
It did not prove to be that difficult and it was a good feeling seeing a healthy bank balance for once. After only eight months I had saved my target of
It did not prove to be that difficult and it was a good feeling seeing a healthy bank balance for once. After only eight months I had saved my target of
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
1000. Instead of putting it into a bond, I decided to take an even bigger risk and to buy some shares. I am happy to say that two years later the share price of the company I had chosen to invest
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
in, had risen by sixty percent. This I have to admit was pure luck as I had simply guessed at who to invest in. The company I chosen had had a dismal few years and its share price was at its lowes
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
ever level. I had heard that the company had recently had some major changes at the top and I decided to gamble just on these few facts.
That was my first experience of investing and it gave the
That was my first experience of investing and it gave the
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
taste for it. I have regularly been buying and selling shares as well as investing in unit trusts for around ten years now. It has also become like a kind of sport or hobby for me, as I am trying
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
to always pick a winner. I have won some and lost some but have had a huge amount of fun along the way.
I now have a certain amount invested in different ways and when for example I have a big ca
I now have a certain amount invested in different ways and when for example I have a big ca
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
repair bill, I have no need to panic as all I need to do, is to cash in some of the units of my unit trust. That is what I like about a unit trust, unlike with an endowment policy where you need
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
to wait until the end of the term to have access to your money, with a unit trust you can take out all or just some of your units at anytime that you want.
Before I started to save up money, I wo
Before I started to save up money, I wo
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ld often get quite stressed about the future. How would I be able to buy a house? How will I be able to buy a decent car? These are just two of many questions I would ask myself. I would try to ig
.
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
nore the questions by saying to myself that at that stage of my life, I should be earning more money.
I am now very happy that I had that conversation with Tim. Investing money in the way that I
I am now very happy that I had that conversation with Tim. Investing money in the way that I
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
o has helped me to get onto the property ladder and also helps to fund my yearly holiday abroad for my family. It also gives me a peace of mind for the future and helps to to sleep easier at night
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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