Answers - Insurance

Life is full of ups and downs. From prince to pauper, king to clown, everybody faces vicissitu

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

des of life at some or the other stage. If everything is hunky-dory at one time then miserable

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

Examples of combination products may in

at the other. In our happy moments we have no paucity of companions but the unhappy moments v

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

ery often needs to be taken care of alone. This makes it important to take measure for protect

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

ing ourselves against unexpected occurrences. Financial protection is one such measure that yo

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

Combination pro

can undertake to guard yourself against any unforeseen monetary damage.

You may have to face

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

monetary damage due to reasons like critical illness, accident, sudden loss of job or income,

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

etc. A financial protection taken against such types of losses serve as a shield that strike

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

away fatal blows. All one needs to do to for such protections is to sign some papers and shell

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

out small amounts in every installment. The premium you have to pay will be negligible in mos

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

of the cases. But the result they will bring in is highly beneficial.

Before going for any t

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

Following aspects would a

ype of financial protection, collecting some information is really important. You shoul

dd to the challenges in developing combination products:

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

d have knowledge of what are the things covered by the plan you choose. Each protection plan d

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

iffers from the other and each has its unique terms and conditions. This way, the definition o

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

f accident, illness, etc. also differ from plan to plan and agency to agency. So, one has to h

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

ve knowledge of all these to select the right deal.

Financial protection against physical ill

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

Professional from academic institutions, pharmaceutical industries, health care indust

ness is probably the most sought after insurance. Generally, major diseases are covered by thi

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

s protection. But the definition of illness sometimes becomes a bit dicey. Particularly, defin

.

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

ition of critical illnesses is complicated. So, you need to be clear about the fact that you u

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

Companies that provide selfless information through particip

nderstand the details very well to take full benefit of the financial protection you undertake

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 - Is Financial Protection Really Necessary?

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