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Frugal living and building wealth go hand in hand. Saving small amounts really adds up to build you

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

r wealth.

There are three things that my grandma always told me:
1) Always treat others as yo

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

Examples of combination products may in

would want to be treated
2) Live your life the best way you can
3) For every dollar you

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

arn save half of it

I am sure you have all heard both numbers one and two but you more than likely

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

smiled chuckled or let a hoot when you read number 3. When I first heard her say it I was 16 years

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

Combination pro

ld and had just gotten my first paycheck, I called my grandma and was so excited that I had made th

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

t much money. And she said SAVE HALF of it. At the age of 16 I of course thought she was crazy! Lat

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

r in life I wished I had heard her more clearly. I now imagine how much better off I would be if I

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

ad really saved half of my pay every payday...I often think of what that money could have done for

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 over time.

So fast forward to today. Married 3 kids later, staying home with them not having a j

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

b. Money is very tight! Most months it's battle to get everything paid. So how does a person build

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

Following aspects would a

wealth when you are living paycheck to paycheck? You save. Just like you would have before you had

dd to the challenges in developing combination products:

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

ids and responsibilities. Even if you save ONE dollar a day at the end of the year you would have $

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

65.00 to invest. When you invest that money it WILL grow over time. And then the following year you

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

would have another $365 to add to that already growing nest egg. You can save in other ways as well

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

Contribute to your 4o1k program at work, most people say to put 10% of your income in the 4o1k but

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

Professional from academic institutions, pharmaceutical industries, health care indust

I say if you can only put 1% then just do the 1% anything is better than nothing at all. It will gr

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

w.

Everyday you will start to find little ways to save money. The more you see your small nest egg

.

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

funds growing the more you will WANT to keep it going. Wealth is not measured in my mind by how muc

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

Companies that provide selfless information through particip

actual money you have in my mind it is measure by how much effort you are putting into your FUTURE

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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