Answers - Real Estate

Purchasing your new home is very exciting, but can also be a bit intimidating. If you make a decision hastily, you run the risk of buyer’s remorse. However, if you don’t organize your search well, it can drag on much too long –

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

which can cause just as much stress. A systematic approach will ensure that you are able to make a sound decision in a reasonable amount of time. Follow these steps, and you will find a great home, with confidence & ease!

1)Get P

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

Examples of combination products may in

e-Qualified & Choose Your Top Monthly Payment. Pre-qualification is one of the most important steps in the home buying process. It still amazes me how many buyers want to skip this process and immediately begin looking at houses –

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

and how many Realtors are willing to work this way! Pre-qualification is what gives you buying power and allows you to make an offer on your dream home when you’ve found it. More importantly, pre-qualification will let you know how

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

much that home will REALLY cost you – in monthly payments. A $150,000 or $300,000 home doesn’t mean a lot to most buyers – but $1200 per month and $2500 per month are tangibles that everyone can understand. After your lender pre-quali

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

Combination pro

fies you, ask them for a “payment table” that shows you a rough estimate of TOTAL monthly payments based on purchase price. Pick your payment, and you know how much you can spend on your home!

2)Use a Realtor! Most people buy

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

-5 homes in their lifetime. A good Realtor will have helped many people into their homes throughout their career – and will have been through the process many, many times. There are not many home buying situations that your Realtor wo

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

n’t have seen - and if you run into one, your Realtor can refer to his office, and a wealth of knowledge. Additionally, your Realtor will have access to the MLS, which gives him a database of 99% of the homes for sale in your given are

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

. Good Realtors don’t sell, they simply listen to their buyers, and present the options that they feel most suit their needs.

3)Make a list of your “Must Haves.” Many buyers claim that they “will know” when they “walk into the

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

one.” If you begin looking at houses without “doing your homework” this will not be the case. Start your search by making a list of your “must haves,” or qualities that are a “deal killer” if the home doesn’t fit. These are typicall

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

price, neighborhood, size, 1 or 2 stories, etc… Sometimes, you will have very strong opinions about seemingly minor details – but these aren’t minor to you, if they’re on your “must have” list.

4)Make a list of your “Wants.”

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

Following aspects would a

fter you’ve identified what you “must have” in your new home, it’s time to make a list of what you want. Your “wants” are what you would like to have – but could possibly live without. These can include paint color, type of appliances

dd to the challenges in developing combination products:

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

, exterior fa?ade, etc... While it would be nice to find a home with all of your “wants,” you will be happy as long as the home has a good number of these attributes.

5)Choose your favorite neighborhood(s). “Location, location

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

location” is the cardinal rule when shopping for your home. The reasoning is simple – you can always upgrade your home, but once you’ve closed, you have no control over location. Think about how close you would like to live to work,

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

what school districts you think are favorable, & how near you want to be to recreational activities. Look at your “zone” & identify the neighborhoods that are within your price range. Of these, choose your favorites – and you’re halfw

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

y to choosing your new home!

6)View Every Available Home That Matches Your Criteria – And Take Notes. After you have identified your “must haves,” “wants,” & neighborhood(s), you have one fun step left in the process:

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

Professional from academic institutions, pharmaceutical industries, health care indust

>Touring every home that matches your criteria! Your Realtor will run a search for every home that matches your search criteria, and you simply choose which homes you would like to tour. Your search results will hopefully return a

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

good number of properties, so make sure and take notes while viewing. Write down what you like & dislike about each home – it will help you with the decision making process.

7)Review your list & choose! After identifying what

.

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

you want in a home and where you would like to live, it’s very normal to fall in love with a home when you walk into it. However, if this doesn’t happen to you – don’t worry! You’ve carefully identified your likes & dislikes, y

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

Companies that provide selfless information through particip

u’ve identified the most appealing locations, and you’ve taken good notes! Simply review your list, weigh the pro’s & con’s of each, and make a sound decision. You have exercised “due diligence” & you can feel confident in your choice

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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