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Finance in relation to business is concerned with the task of providing funds needed by the

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

enterprise in terms that are most favorable in the light of its objectives. The finance func

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

Examples of combination products may in

ion of a business is concerned with procurement of funds and its effective utilization in bu

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

iness. It covers financial planning, forecasting of cash receipts and disbursements, realizi

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

g of funds, using and allocation of funds and financial control. Financial planning helps in

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

Combination pro

defining financial goals, setting objectives and developing a plan to achieve them. Planning

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

is not master-minding the future, and any attempt to do so is foolishness. Human beings can

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

neither predict nor control the future. For this reason, management has to clarify their obj

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

ctives and determine what actions must be taken, when, by whom, and at what cost to achieve

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

he cherished goals. Financial planning is the process of evaluating different investing and

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

inancing opportunities available to a firm and selecting the best one from the available opt

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

Following aspects would a

ions.

The planning requires a long-term estimate of profits which in turn involves a projec

dd to the challenges in developing combination products:

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

ion of sales and costs of operation for a period of years. Accordingly, long range financial

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

planning becomes essential for a company that wishes to grow. The company has to establish o

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

jectives and goals as part of a master plan for long range survival and growth. Coordinated

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

hinking forms the basis of financial planning for making an optimum utilization of funds, pa

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

Professional from academic institutions, pharmaceutical industries, health care indust

rticularly of cash balances.

Unneeded cash can be invested in income-producing securities.

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

inancial planning is used as a control device to fix standards of performance and evaluation

.

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

of the results. It is used to pre-test the financial feasibility of various programs and in

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

Companies that provide selfless information through particip

hat sense it is of crucial importance because action once taken becomes difficult to retract

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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