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Do you know what’s in your credit report? Because of the terms of the Fair Credit Reporting Act (FCRA), you have the right to know exactly what credit reporting agencies are putting on

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

your credit report. That’s only one of the rights that the FCRA guarantees you – and every consumer.

The Fair Credit Reporting Act was enacted to ensure the accuracy and privacy of y

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

Examples of combination products may in

our credit report. All Businesses that use information on your credit report to determine whether or not, to lend you money or offer you credit are bound to follow guidelines that are

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

set out by the Fair Credit Reporting Act. In addition, any company or agency that collects debts must also follow certain guidelines that are set out by the law. The provisions of 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

air Credit Reporting Act detail how long particular financial information may be retained on your report, specify ways for you to make corrections to information that is contained on y

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

Combination pro

our credit report, guarantee your right to see your credit report, and give you rights when dealing with creditors.

What specifically are these guidelines and how can they help you if

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

a credit agency is reporting untrue or misleading information about your credit history?

1) You have a right to see your credit report.
If you have been turned down for credit,

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

housing or employment based on information provided by a credit reporting agency, you have a right to know which agency provided the report. Upon your request, the creditor must give y

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

ou the name and address of the credit reporting agency that they used. Further, the credit reporting agency must provide you with your credit report upon your written request for it, 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 they must do so for no more than the cost of copying and postage.

2) You have the right to correct your credit report.

If the credit report you receive contains inaccuracies –

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

for instance, a paid or settled debt is still listed as unpaid – you have the right to request that it be corrected with the accurate information. The request must be made in writing,

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

Following aspects would a

and the credit reporting agency to whom you make the request must investigate it within 30 days of their receipt.

3) You have the right to receive a corrected copy of the report at no

dd to the challenges in developing combination products:

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

additional charge. You may have to pay for postage.

You may make a written request to have a corrected copy of your credit report sent to you, or to any agency that has requested

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

your credit report in the past six months for credit purposes, or in the past two years for employment purposes.

4) You have the right to fair collection practices.

If a credito

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

is trying to collect a debt from you, they must follow guidelines designed to prevent you from being harassed. Among those guidelines are:

1. They can only call you within certai

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

n prescribed hours.

2. They can not share information about you to any third party without your permission. This includes the fact that they are attempting to collect a debt.

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

Professional from academic institutions, pharmaceutical industries, health care indust

3. They can not attempt to contact you at work without your specific permission.

4. They can not use false or misleading statements to extract information or payments.

5. Th

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

y must honor a written request to cease further contact with you. In a world where your credit report is often your ticket to a better-paying job, housing, credit and many other thing

.

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

s, it’s important to know what credit agencies are reporting about you. Most consumer protection agencies strongly recommend that you request and carefully read your credit report ever

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

Companies that provide selfless information through particip

y year so that you can correct any inaccuracies, or request that reports of special circumstances be attached to the report. It’s a small task that could save you a lot in the long run

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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