Answers - Real Estate

A second mortgage is essentially taking out a loan on your home that uses your

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

home’s equity as collateral. If you have been in your home long enough and y

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

Examples of combination products may in

our home as appreciated then you are able to easily take out a second mortgage

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 second mortgage can also be used for anything you desire from a new kit

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

chen to paying for your child’s tuition.

There are two types of second mor

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

Combination pro

tgages. The first is a regular home equity loan. These loans are similar

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

to traditional mortgages and it takes about the same amount of time to get th

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 loan as it does a traditional mortgage. You are also required to pay closin

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

g costs on the loan as well. These loans are good if you need a lump sum of c

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

ash to pay for a large home renovation, buy a new car or to take a long awaite

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

d luxury vacation.

The second type of second mortgage available is the hom

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

Following aspects would a

e equity line of credit. This is similar to that of a personal line of cr

dd to the challenges in developing combination products:

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

edit. You are allowed to borrow certain amounts of money, pay it off and then

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

borrow more if you wish. You can open a line of credit and use it similar to

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

that of a credit card. There is usually a maximum amount that you can borrow

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

at one time.

Like a primary mortgage, a second mortgage is secured by the

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

Professional from academic institutions, pharmaceutical industries, health care indust

value of the home. There are several variations of these mortgages that

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

may allow you to borrow the full value of your home or even 125% of the value

.

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

of your home. These should be used wisely as you are stuck with the loan unti

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

Companies that provide selfless information through particip

l it is paid off, which means that you cannot move until the loan is paid off.

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 - Second Mortgage Loans - What Are They And How Do They Work

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