Answers - Real Estate

Many people looking for a wise real estate investment usually purchase second homes in another place where they can vacation from time to time with their lo

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

ved ones. The baby boomers comprise this segment of real estate buyers which in turn drives the growth of the vacation real estate market. But although a re

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

Examples of combination products may in

l estate group has reported a plunge in 2006, the demand for vacation homes remains strong this 2007.

The National Association of Realtors (NAR) revealed t

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

at the sales of second homes for investment went down by 28.9 percent in 2006. The figure was down from 2.32 million vacation homes sold in 2005 during 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

eak of the so-called “five-year housing boom” to 1.65 million. NAR, however, made it clear that the drop was not due to the general housing slump last year

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

Combination pro

because vacation homes soared by 4.7 percent to a record 1.07 million units compared to 1.02 million sales in 2005.

NAR further said that based on its surv

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

y, 22 percent of all homes bought in 2006 were meant for investment and the figure was down from a 28 percent market share in 2005. The number of vacation h

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

omes purchased, though, went up from 12 percent in 2005 to 14 percent of the total market for new and existing homes.

Vacation home buyers

The typi

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

al buyers of vacation homes in 2006 were those aged 44 and had a median household income of $102,000. The vacation homes preferred were at a mid-point of 21

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

miles from the homeowners’ primary residence. NAR said the demographics were favorable for sales of vacation homes with most consumers in their prime buyin

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

ages. Buyers purchased second homes as recreational properties for personal use with investment as a secondary reason. Real estate experts say it does not

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

Following aspects would a

ecessarily follow that those who buy multiple vacation properties are the wealthy people. This small but growing segment of the market are usually those nea

dd to the challenges in developing combination products:

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

ing their retirement, making a good living and have more control over their work schedule that they have extra time to spend at their vacation homes. Apart

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

rom recreation, some of them earn short-term income by renting out their second or third homes.

As for the price, the median rate of a vacation home in 200

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

6 was down two percent from $204,100 in 2005 to $200,000 in 2006. The typical investment home also sold lower at $150,000 compared to the $183,500 in 2005.

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

NAR studies

The second home segment of the housing market is actually bigger than expected making up one-third of the market, according to the NAR.

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

Professional from academic institutions, pharmaceutical industries, health care indust

wo NAR studies have confirmed that indeed this market is growing based on the number of purchases made in 2003 and 2004. In 2004 alone, 36 percent or a tota

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

of 2.82 million of homes bought were second homes while in 2003, the total was only 2.42 million. Investment was the main purpose of the purchases (23 perc

.

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

nt) while only 13 percent were for vacation reasons.

NAR’s studies on second homes were based on two surveys done between middle of 2003 and middle of 2004

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

Companies that provide selfless information through particip

Census Bureau statistics in 2003 showed there were 43.8 million second homes in the U.S., 6.6 million vacation homes and 37.2 million investment properties

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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