Answers - Real Estate

There exists today a void. A void of new construction single family homes for sale in the Birmingham real estate market between the price of $150K and $200K. This is particularly true in popular residential areas such as Pe

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

lham, Helena, Hoover, and Alabaster.

The New Construction Void

Over the past two or three years, new construction has exploded throughout the Birmingham area. Neighborhoods featuring garden and patio styl

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

Examples of combination products may in

homes popped up from Trussville to Montevallo. This vast selection of homes was a boom for the new construction market and home sales soared. Demand was high, and as a result, the prices of these new garden homes increased

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

. The increased price in garden homes rippled throughout the entire new construction market generating price increases across the board. Now, what used to be affordable for people looking to "move up" from their garden home

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

has become slightly too expensive, creating a gap of quality family sized homes at or below $200K.

Let's look at a scenario.

A few years back, one established neighborhood in particular, witnessed a new development open r

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

Combination pro

ight next door. Home sales slowed in the established neighborhood, while the new construction neighborhood experienced a boom. Over time, home values increased in the established neighborhood. In response to the interest in

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

the neighborhood by potential buyers, the new development raised their prices as well. Eventually, bringing the basic garden home to within the price range of the established family sized homes of the established neighborho

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

od. The new developments homes comparable in size were initially priced comparable to the established neighborhood. But now three years later, there exists a fifty to sixty thousand price differential between comparable new

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

construction homes and this established neighborhood, creating what I like to call, the void.

An Interesting Market Condition

Here is where it becomes interesting. New construction sales have slowed over

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

the past year, and builders are having to leave their homes on the market for longer periods. As a result, the builder's expenses increase while their profits decrease. Eventually, the expenses increase to a point where the

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

builder cannot afford to reduce the price without suffering a substantial loss. As a result, the builder is more likely to accept an offer slightly below the asking price to stop any more profit loss from the vacant new hom

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

Following aspects would a

that has been sitting on the market. You could refer to this scenario as a buyer's market, and quite frankly, it is, but...

It is turning into a feeding frenzy for persons living in the family sized homes valued within th

dd to the challenges in developing combination products:

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

e price gap between new construction garden homes and new family sized homes. The demand for these established family sized homes has increased dramatically in certain areas and certain developments. What has developed in t

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

e Birmingham real estate market is a micro-sized neighborhood and price dependent seller's market!

For example

Recently, a young couple with a family sized home in an established neighborhood wanted to make the jump to th

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

e new construction version of their home. Knowing that home sales in their neighborhood had slowed during the winter months of 2006, I expected the home to take a little longer than normal to get under contract and sold. Th

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

home was on the market for twelve days. That's right, twelve days. Even though the home was priced at the higher end of the scale for the neighborhood, the home sold in less than two weeks, for $5000 more than the asking p

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

Professional from academic institutions, pharmaceutical industries, health care indust

rice! It gets even better when you take into account that their home was the highest priced sale for that style of home in that neighborhood to date!

Then, because of the buyer's market conditions at new construction devel

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

pments, the young couple, with the help of their real estate agent, negotiated a contract price on their new construction home well below the builder's asking price.

Now is the time!

The above example is

.

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

why persons living in the void that are considering moving, need to get the ball rolling before the void disappears. Market conditions change and who's to say how long this particular scenario will last. But one thing is ce

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

Companies that provide selfless information through particip

tain, this is a very unique opportunity for home owners in established neighborhoods to sell their homes and take advantage of the current buyer's market that exists throughout the Birmingham Alabama new construction market

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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