Answers - Real Estate

I know what you are thinking. If I am selling my home why would it cost me money? The purpose of this article is to explain the cost of

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

selling your home. If you want to make money selling your home you need to know the associated cost, so let's take a look.

For our exa

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

Examples of combination products may in

ple we will look at selling our $300,000 home. Make sure you know the value of your home before you list it. There are many free online

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

ome appraisal services that you can use to get an idea of your home value. After consulting with our real estate agent and using severa

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

l free home appraisal services we come up with our listing price of $300,000. Great all we have to do now is sell it for our asking pric

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

Combination pro

and we are on easy street. Not really. The largest cost of selling your home is the commission you will pay to a real estate seller ag

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

nt and buyer agent. The normal commission is 6%. So this number comes up to $18,000 dollars. Take a hard look at this number and decid

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

e if what the agent does is worth this kind of money. The truth is that a good agent is worth good money. Notice I said a good agent.

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

ake sure you hire an agent that actually sells homes and not just lists them. The next big cost is upgrades and repairs. Normally to ge

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

your home in selling condition you will need to paint the home and replace some if not all of the flooring. You might need a new roof o

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

kitchen appliances. If you don't replace and repair then you will probably have to discount the asking price to compensate. I would do

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

Following aspects would a

the repairs up front because it will be easier to sell your home with the repairs finished. So for our example let's say you spend at l

dd to the challenges in developing combination products:

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

ast $5,000 dollars for repairs and upgrades. The next largest cost will be closing cost. Most sellers will be asked to pay some if not

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

ll of the closing cost. Our example will use $3,000 dollars. The next cost is really not a cost but a discount. The average house sell

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

s for 97% of its list price. So in our example we will lose $9,000 dollars. There are even more cost but I think we have listed enough

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

o let’s get the grand total.

We started with a listing price of $300,000 and we need to subtract $35,000 dollars. The take home payoff

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

Professional from academic institutions, pharmaceutical industries, health care indust

s $265,000 dollars. So the bottom line is not even close to our original listing price. Don't be tempted to raise the price of the home

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

to compensate because you will price your home out of the market. You need to examine the cost of selling your home the traditional way

.

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

before you list your home with an agent. If you decide to sell your home yourself or FSBO then make sure you can handle the entire sales

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

Companies that provide selfless information through particip

process from start to finish. Selling a home is not easy so take some time to weigh your choices before jumping in the home seller arena

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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