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In my last article we looked at a principle called Leverage. We learned that people who use leverage could ge

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

t richer than those who don’t.

Today we’re going to learn about another concept. This one has to do with wha

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

Examples of combination products may in

t type of money you are earning.

Essentially, there are two types of incomes you can earn. They are Active 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.

ncome and Passive Income.

Active Income is money you get for doing something. It’s much like non-leveraged i

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

ncome. You work an hour, you get paid for an hour. Like we’ve already discussed, this type of income is very

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

Combination pro

limited because you only have so many hours in a week.

Passive Income is money you earn today from something

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

you’ve done in the past. This is also called residual income. You might be asking “How can I get paid today

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

for something I’ve done a year ago?”

Think about Elvis Presley. He made a lot of money this year even thoug

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

h he’s been dead for some time. He (or his family) gets a small percentage of money from all his record, CD, a

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

nd Tape sales. He made the original recordings decades ago.

Now, I know you’re sitting there thinking “Great

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

. I can’t do what he did. He was a rock star!” This may be true, but the idea is to start thinking in these

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

Following aspects would a

terms. In the next article you will learn about different ways of generating passive income that you or anyb

dd to the challenges in developing combination products:

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

ody could do. The good news is you live in a time where this type of income has never been easier to make. I

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

n fact it’s a heck of a lot easier for you than it was for Elvis! There are a lot of average Joes living some

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

pretty amazing lifestyles and getting plenty rich off passive income.

At this point you should be thinking 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

bout how you make your money. You want to put all your work into building up income that is leveraged and pas

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

Professional from academic institutions, pharmaceutical industries, health care indust

sive. Of course you may need to feed your family right now and you may need to work a regular job for some no

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

n-leveraged active income. That’s fine. You just want to start putting more work into income that will pay o

.

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

ff years from now rather than just making a quick buck.

Ask yourself: What Kind of Money do I make? What per

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

Companies that provide selfless information through particip

centage is leveraged? What percentage is Passive? This will give you a big clue into how Rich you can become

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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