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Payday Loans, often referred to as cash advance loans, are amounts lent by specialized lenders to b

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

orrowers until the next pay day. Typically, payday loans are extended for amounts that are less tha

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

Examples of combination products may in

n $1,000. The loan is extended to the borrower against the personal check of the borrower that is p

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

laced with the lender until the next pay day. The cost of carrying payday loans is very high as the

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

risk of default is high, since generally borrowers who find themselves in a very difficult financi

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

Combination pro

l situation avail of such loans.

Why are Payday loans popular?

They are popular for a number of r

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

easons such as:

· Credit checks are not required. The personal check that you make payable

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

to the lender acts as security.

· Approval is quick. If all the necessary documents are s

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

ubmitted, your loan application maybe approved in minutes.

· The paperwork involved is sim

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

ple. Generally one or two documents would suffice which explains the loan process and your obligati

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

ns.

· The repayment process is without hassles. The check submitted as security is encashe

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

Following aspects would a

d on the next payday by the lender. You could extend the loan to subsequent paydays for a fee. Howe

dd to the challenges in developing combination products:

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

ver this is very expensive.

· Easy availability. Payday loans are particularly appropriate

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

for emergency situations provided the amount required is small and one is willing to bear the high

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

cost of the loan.

Drawbacks of payday loans:

· Such loans are prohibitively expensive. L

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

nder fees can range from $15 to $25 per $100 borrowed. These fees are for a period of 14 days.

·

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

Professional from academic institutions, pharmaceutical industries, health care indust

Many borrowers, within a short time, find themselves in a debt trap. With each extension of

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

the loan, the fees in total increase such that at the end of two, three or four extensions they equ

.

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

al the loan amount.

· Collection of outstanding loans is harsh. Considering the fact that

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

Companies that provide selfless information through particip

this business is a high risk lending game, lenders wield the stick harshly on the slightest default

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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