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Will you have a sense of fulfillment and security when you have at least a million dollars in the bank

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

when you are old and cannot work anymore? Almost anyone can retire as a millionaire, all you need is

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

Examples of combination products may in

a little over $3 a day. We will explore some techniques to make money work for you and make you a mill

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

onaire while you retire.

Dollar-Cost Averaging

Dollar-cost Averaging (or Regular Sa

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

vings Plan) is a simple strategy of investing small amount of money every month. Investing at least $1

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

Combination pro

0 every month in some investment like mutual funds or stocks that has an average annual return of 8% t

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

o 10%. Make this as an extra savings after your social security or provident fund savings.

Co

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

mpounding

Einstein wondered Compounding as the eighth wonder. What made a mathematical geniu

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

wonder at this simple principle? Let us now see the power of compounding.

Let us say you are using D

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

ollar cost average method to invest regularly. And you are investing $100 a month in stocks or mutual

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

unds with a annual return of 10%. At the end of first year you will have $1320. At the end of 10 year

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

Following aspects would a

s you will have $21,037. Not a big sum, but still avoid the temptation to withdraw for that vacation.

dd to the challenges in developing combination products:

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

By the end of 30 years you will have some $217,132. After this at the end of 40 years you will have $

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

84,222.

Now the magic happens, at the end of 46 years guess how much you will have, it will be millio

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

n dollars ($1,045,170). If you notice that it took 10 years to accumulate $20,484, but it only took la

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

t six years to generate $460,948 or double from $ 584,222 to $1,045,170.

For compounding to work its

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

Professional from academic institutions, pharmaceutical industries, health care indust

magic

1. You must put aside some money lump sum or regularly in an interest generating account

2. Mu

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

st not withdraw from the account

3. Allow sufficient time to compound

What you have done here is to

.

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

imply invested $100 a month, which is like little more than $3 a day and retire as a millionaire. If y

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

Companies that provide selfless information through particip

ou have started investing at the age of 20, by the age of 66 when you retire you will be a Millionaire

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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