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Answers - Want To Be A Millionaire?
I am sure you have probably read about the power of compound interest. And how if you invested $10,000 at 10% return and
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
let it compound for 50 years you would have a little over 1 million dollars.
Now that’s all well and good, but who wants
Now that’s all well and good, but who wants
; 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
to wait around for 50 years before they can enjoy the fruits of their labor.
A quick tweak of the spreadsheet tells us
A quick tweak of the spreadsheet tells us
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
that if you could increase your returns to just 15% per year, we would be looking at a million dollar balance in around 3
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
5 years, which would also be bringing you in around $150,000 more each year after that.
25% return per year will turn yo
25% return per year will turn yo
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ur $10,000 into 1 million in around 22 years, producing another $250,000 per year in additional cash flow.
This brings u
This brings u
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
s to an important point. How much is enough?
How much money do you need to live your life?
Well, its all relative to th
How much money do you need to live your life?
Well, its all relative to th
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
lifestyle you wish to lead. A good way to work out how much is enough, is to consider how much money you live off now. W
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ork out how much money you would need to earn to replace your current income with your investment income.
If you earn $5
If you earn $5
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
0,000 per year, then it will only take you around 15 years from the example above at 25% return to replace your income fr
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
om your investments.
Work out how much money you need to live the lifestyle you want, and then take that figure and work
Work out how much money you need to live the lifestyle you want, and then take that figure and work
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
out how much money you need invested to produce an equal income.
You might just be pleasantly surprised at how much you
You might just be pleasantly surprised at how much you
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
really need, and that it is not that far out of your reach.
Are these returns really possible?
The figures we talked a
Are these returns really possible?
The figures we talked a
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
bout above are really just to give you an idea of what’s possible. Again everything is relative to how much work, time, m
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
ney and commitment you are prepared to make in order to secure these returns.
A good managed fund will give you around a
A good managed fund will give you around a
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
10% return per year, but if you want to take things to the next level, then the only way to do this is to learn how to i
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
nvest your own money. Returns of 25% and higher are certainly possible, people make returns like this all the time. You j
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ust need to learn the strategies, and apply them. Sure there will be some bumps in the road ahead, but consider the alter
.
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
natives.
Your job for this week, is to set some time aside and figure out how much money you will need in order to repla
Your job for this week, is to set some time aside and figure out how much money you will need in order to repla
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
ce your income. Work out all your living expenses and any other costs you need to consider, and make that your first goal
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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