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Answers - Buying A Second Home
It is not surprising for some people to think of this after a pleasant vacation at the beach, the lakeside or mountain regions
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
. Sometimes, you come home with more than just the souvenir items; you also have a sales contract waiting to be signed, for th
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
purchase of a property. But don’t sign those right away. Remember that buying a second home involves decisions that could aff
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ct you and your family in a major way. You have to do your homework first to avoid regretting the choice later.
So how do you
So how do you
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
make a sound decision? What do you need to consider before closing the deal?
Find your Motivation
Do you reall
Find your Motivation
Do you reall
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
need a permanent vacation home? Is it a place you can visit regularly? It could be ideal when you have younger kids and a pl
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
ce by the beach is something you and your family may enjoy during the weekends regularly. But more often than not, a second ho
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 may not be visited as often as possible so consider this before you sign the agreement.
Do a survey of the area
Do a survey of the area
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
>
If it is an area, which you have not yet been to before, visit it a couple of times to survey the neighborhood and the land
If it is an area, which you have not yet been to before, visit it a couple of times to survey the neighborhood and the land
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
cape. You may have failed to notice some important safeguards or if the property does not actually live up to what was promise
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
. Is it near an airport strip? How bad is the traffic going there?
Check if services are conveniently available. Is the neigh
Check if services are conveniently available. Is the neigh
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
orhood safe? Is public service, like garbage pick-up, reliable? Also, if your favored spot is a developing area where construc
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ion is continuously on going, this may have an impact in the value of your property.
Talk to long-time Residents
Talk to long-time Residents
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
>
Of course, those that have lived there longer can provide you with a better view of what the place promises to be. Try to a
Of course, those that have lived there longer can provide you with a better view of what the place promises to be. Try to a
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
tend homeowners meetings or read their monthlies to get a sense of what your future neighborhood will be like.
Consider
Consider
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
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
Renting
If you have a prospective property, consider renting for longer periods first. That way, you get to experienc
If you have a prospective property, consider renting for longer periods first. That way, you get to experienc
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
what having the second home could be like. Check with your realtor or the developer too since some neighborhoods carry rental
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
limits.
If you do decide to purchase the property, ask for price packages where financing may be offered, so that you can rev
If you do decide to purchase the property, ask for price packages where financing may be offered, so that you can rev
.
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
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
ew this with the bank or your accountant. Gathering information and becoming knowledgeable about your prospective property wil
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
help you determine the value of your second home. And from there, you can assess if purchasing the property would be worth it
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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