Answers - Real Estate

When you are negotiating an Agreement of Purchase and Sale as a potential purchaser, the vendor (or the vendor's real estate agent) will ask you for a d

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

eposit. This is a "good faith" amount of money that shows the vendor that you are in a financial position to be able to purchase their property.

The d

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

Examples of combination products may in

posit is not a percentage of the purchase price and can be any amount, although it is usually between $1,000.00 and $10,000.00. This amount is given as

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

a cheque payable to the vendor's solicitor or the vendor's real estate agent, in trust. The lawyer or agent will keep your deposit in a trust account o

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

your behalf and, on the day of closing, you will be credited for this amount (in other words, this amount will be deducted from the purchase price, whe

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

Combination pro

calculating the amount you are required to give the vendor to purchase the property).

The downpayment is something different altogether. The downpaym

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 is a percentage of the purchase price. If you are getting a CMHC-insured mortgage, you will be required to provide a downpayment of 5% of the purcha

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 price of the property. This is called a "high ratio mortgage". You will obtain financing for the additional 95% of the purchase price, plus the CMHC

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

high ratio mortgage insurance fee. For example, if you are purchasing a property and the purchase price is $200,000.00, you will be required to provide

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

a downpayment in the amount of $10,000.00* (5% of the purchase price).

If you have arranged a "regular" mortgage through a mortgage company (meaning th

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

t your mortgage is not CMHC-insured), you will be required to provide a downpayment of 25% of the purchase price of the property. In this case, you wil

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

Following aspects would a

l obtain mortgage financing for the remaining 75% of the purchase price. In the above example of the $200,000.00 property, you would be required to com

dd to the challenges in developing combination products:

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

up with a downpayment of $50,000.00* (or 25% of the purchase price), and you would receive financing of $150,000.00, being the balance of the purchase

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

rice owing to the vendor after your downpayment.

Remember to calculate the deposit you have already given when arranging your financing. If you are pu

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

chasing the above $200,000.00 property and you are arranging a CMHC-insured mortgage, you need to provide a $10,000.00* downpayment. If you have alread

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

given a $5,000.00 deposit to the vendor's real estate agent, that money is considered to be part of your downpayment and it will be credited to you on

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

Professional from academic institutions, pharmaceutical industries, health care indust

losing. On the day of closing, instead of having to provide the entire purchase price of $200,000.00 to the vendor, you now only have to provide $195,0

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

0.00*. Since you have already given $5,000.00 as a deposit, the balance of your required downpayment is now $5,000.00*. Your CMHC financing will provi

.

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 the additional $190,000.00 of the purchase price, plus the CMHC insurance fee.

* These amounts are subject to the usual adjustments calculated as of

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

Companies that provide selfless information through particip

he closing date. Adjustments are for items such as purchase price, deposit, realty taxes, common expenses, rent and rental deposits, just to name a few

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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Answers - What is the Difference Between a Deposit and a Downpayment

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