Answers - Real Estate

Buying a home usually is the largest single investment you will ever make and you have to be able to cut through the sales hype and real estate terminology to know if the home you are conside

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

ring is worth the investment. To minimize unpleasant surprises and unexpected difficulties, you’ll want to learn as much as you can about the newly constructed or existing house before you bu

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

Examples of combination products may in

it and a buyer typically gets that information with a home inspection.

A home inspection is an objective visual examination of the physical structure and systems of a house, from the roof 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.

the foundation and detailed in an inspector’s report. The standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system interior pl

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

mbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and all major structural components.

Home inspectio

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

Combination pro

s are as applicable to newly constructed homes as they would be to an existing one, as a home inspection may identify the need for major repairs or builder oversights or shoddy workmanship, a

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

well as the need for maintenance to keep the house in good shape. After the inspection is completed, you will know more about the house you are interested in buying, which will allow you to

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

ake a purchasing decision with confidence.

Typically, a home inspector is contacted immediately after the contract or purchase agreement has been signed. However, before you sign, be sure th

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

re is an inspection clause in the sales contract, making your final purchase obligation contingent on the findings of a professional home inspection. This clause should specify the terms and

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

onditions to which both the buyer and seller are obligated.

The inspection fee for a typical one-family house varies geographically throughout the United States and very often varies dependi

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

g on a number of factors such as the size of the house, its age and possible optional services such as septic, well or radon testing if it is required in the local real estate market and by s

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

Following aspects would a

ate law. The typical home inspection price range in Southern California is between $200 to $450 depending on the size of the house and amount of detail required in the report.

However, do n

dd to the challenges in developing combination products:

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

t let cost be a factor in deciding whether or not to have a home inspection or in the selection of your home inspector. An inspector’s fee is usually nominal when you compare it to the amount

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

of potential financial outlay for major repairs you potentially would have had to shell out after you had purchased the home. The sense of security and knowledge gained from the home inspect

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

on is well worth the cost, so be wary of hiring an inspector based solely on price as the lowest-priced inspection is not necessarily a bargain. Use the inspector’s qualifications, including

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

is experience, training, compliance with your state’s regulations, if any, and professional affiliations as a guide.

And what should you do if the home inspection finds problems? If the in

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

Professional from academic institutions, pharmaceutical industries, health care indust

pector identifies problems, it doesn’t mean you should or shouldn’t buy the house, only that you will know in advance what to expect and whether some of the items found can be negotiated with

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

the seller. If your budget is tight, or if you don’t want to become involved in future repair work, this information will be important to you as to whether you will go forward with the purcha

.

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

e of the home. Furthermore, if major problems are found, a seller may agree to make repairs and or adjust the final sale price of the house to reflect the repairs needed.

However, even if t

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

Companies that provide selfless information through particip

e home inspection doesn’t find any major problems, other than general wear and tear, a homeowner will know for certain and have the security that his or her home purchase was a worthwhile one

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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