Answers - Real Estate

You’re getting older and you can see all the equity sitting in your home, but you need money now! Wha

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

t are your alternatives? Well, you could sell your home and buy something smaller and spend the diffe

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

Examples of combination products may in

rence or you could consider taking out a reverse mortgage. But if you opt for a reverse mortgage, the

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

re some very important things you need to know. Basically it works like this. You have equity that h

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

s grown in your home by either house prices going up or you paying off your mortgage. You can now act

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

Combination pro

ually borrow the equity and pay interest on it which is basically backwards from a traditional mortgag

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

e. Now you may be asking yourself why you would do that. First, you get a monthly check from the ban

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

that you can spend anyway you want. You or your estate pays the total amount you were given over tim

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

e plus interest.

This is where you have to watch reverse mortgages. The interest rates can be extrem

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

ely high and you can often owe up to 3 times what you were paid. Often these mortgages are paid back

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

hen you die and your estate handles it or when you sell the home. To qualify for one of these, you ha

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

Following aspects would a

ve to actually be the owner of the home and live in it. Remember, it doesn’t work for rental properti

dd to the challenges in developing combination products:

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

es. Each company that offers reverse mortgages establishes their lending guidelines on the amount of

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

the loan but a good rule to follow is the older you are and the more expensive your home, the greater

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

he loan amount.

One of the advantages about a reverse mortgage is that you can actually pay it back a

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

nytime you like. They become immediately due if you die however, so make sure to include it in your w

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

Professional from academic institutions, pharmaceutical industries, health care indust

ill. If you decide not to pay your property taxes, insure the property or maintain it, the lender can

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

actually call the loan. So be sure to take care of these things or you may get yourself into trouble.

.

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

We recommend that you speak to your lawyer before going ahead with a reverse mortgage. They can be

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

Companies that provide selfless information through particip

complicated and confusion and it is critical you understand exactly what you are getting yourself into

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 - Reverse Mortgages: Advantages & Disadvantages

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