Answers - Real Estate

Whether you are buying your first home, a vacation or retirement condo, a beach get-away or an investment rental property, there are 6 basic steps that you will need

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

to successfully complete. Some of the specifics may vary slightly from area to area within Florida, but the general steps and a majority of the specifics will hold

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

Examples of combination products may in

true throughout the state. This information comes from my experience as a buyer’s agent in the Tampa Bay area.

The six steps I will be covering in this series of ar

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

icles are:

1. Selecting the general area.

2. Beginning the financial preparations.

3. Searching for and finding the prop

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

erty that is right for you.

4. Negotiating the contract.

5. Getting from the contract to the closing.

6. Closin

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

Combination pro

the deal.

In this first part of the series of articles I’ll cover step 1 – Selecting the general area.

1. Selecting the general area.
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
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In some cases this may already be done for you. If you are relocating for your job to a specific area of Florida or if you are moving to be within a certain
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
distance of family members, you already know the general area you want to move to.

If this isn't the case for you, you will need to decide where you want to be and
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
this may involve doing research on different parts of the state. You will need to look into the factors that are important to you such as climate; schools; cost of l
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
iving; distance to airports, beaches, major cities, etc.; and job market just to name a few. But you will need to know what is most important to you and I’d recommen
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
writing down a clear and precise description of the ideal location for you before starting your research.

Go through the following list to help narrow this down:

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

Following aspects would a
Climate – the further south the hotter
Near the water or inland; how close to the beaches
Large metropolitan area, more rural, or smaller t
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
own near a large city
Distance to nearest major airport
Job availability in your field or activities for retirees
Pricing – higher end are
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
s like Miami, Naples, West Palm, Sarasota; middle end areas like Tampa/St. Pete/Clearwater, Orlando, Jacksonville

By deciding what you’re looking for in
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
relation to each of those points and then comparing that to what each area of the state has to offer, you should be able to eliminate some areas of the state and nar
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
ow your choices down to a few areas. I’d recommend continuing to narrow down the areas until you have 1 or 2 left that fit all or most of your needs.

A lot of the i
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
nformation you need in order to make your decision can now be obtained over the Internet. You can also get information through friends or family that live here, by c
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ontacting the appropriate city or county departments or through local realtors. It also would be a good idea to visit the area or areas you think might be best for y
.

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
u to personally check them out for yourself. Any way you choose to do it, make sure that you don't skimp on your research.

When you have the general area in mind, i
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
t is time to start on the next step which is to begin the financial preparations for your purchase. I’ll cover this step in detail in the next article in this series

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 - #1 of The 6 Basic Steps To Buying A Home in Florida

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