Answers - Finance

If you are in the market to lease office space, there are a couple of questions that you will want to ask the property ma

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

nager before you sign a lease. These questions will help to ensure that you get what you want in your new office, and the

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

Examples of combination products may in

y will also help to make sure that you do not have any unexpected problems down the road. Try to anticipate anything that

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

could come up in the future and plan for it now. Ask alot of questions so that it is clear what you are getting into.

T

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

he number one problem that people make when they go to lease office space is that they do not ask enough questions. This

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

Combination pro

often leads to misinformation, and a feud somewhere down the road. So do yourself a favor and ask these questions before

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 decide to sign a lease for your next office space.

How much is the monthly lease, and what does it include?

This is

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

a very important question to ask because not every lease is going to be the same. Just because your last office building

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

included electric into the lease does not mean that your new lease will. Your new office could include other "extras" th

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

at will make the lease payment price more attractive to you.

Is Internet included?

Your firm more than likely requires

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

an Internet connection to operate. First off you need to find out if the Internet bill is included in your monthly lease.

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

Following aspects would a

And from there, you also need to find out how you will be getting your Internet access. Make sure that you can get a hig

dd to the challenges in developing combination products:

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

h speed hook up. You may not be able to get it in some complexes. This is especially important to check out because it va

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

ries so much from place to place.

What happens if I have to break the lease?

Make sure you know what your obligation is

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

if you have to break your lease. You never know what is going to happen. Your company could go under, or you may end up

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

having to relocate to another state. Make sure you have this in writing, so you can make a smooth exit if anything goes i

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

Professional from academic institutions, pharmaceutical industries, health care indust

rrepairably wrong.

What is the term of the contract?

Some leases are on an annual basis and some are 5, 10, 25 or even

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

99 year leases. You must weigh the term with your business objectives. Some office space is rented on a month to month ba

.

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

sis.

If you ask these questions before you lease office space, you should be in good shape. The most important thing to

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

Companies that provide selfless information through particip

remember is that when you go to lease office space you need to ask any question that may present a problem down the line.

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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Answers - Critical Questions to Ask Before You Lease Office Space

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