Answers - Real Estate

As the large supermarkets continue to relocate the occupants of the high street under one roof, their latest target is the local estate agent.

Although agents are in the spotlight for s

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

ome questionable business practices, Asda’s announcement that they are going to sell houses in their supermarkets seems a rather drastic remedy to consumer concerns.

Asda are promising

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

Examples of combination products may in

to sell your house cheaper than your local estate agent. What’s more, you’ll also get a Home Information Pack (HIP) for free. Simply register your property at a terminal in one of their

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

hops and they will do the rest for you.

It sounds like a very good idea.

It does mean that you’ll be spending more time at the supermarket. And registering your property for sale will

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

take a little longer than choosing between own-brand baked beans and Heinz. Your frozen pizzas would definitely suffer in your trolley while you decided whether to describe your property

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

Combination pro

as “representing outstanding value for money” or “is in need of tender loving care”.

But a free HIP is a very attractive offer.

If smaller estate agents were worried that large agent

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

hains would tempt their clients away with the promise of free HIPs, this news may just convince them to shut up shop straightaway. It also appears to be bad news for those companies look

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

ing to provide HIPs in industrial-sized quantities.

Obviously, to claim your free HIP, you’ll have to rely on Asda to sell your home through their website. Over the years, there have be

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

en dozens of websites offering a reduced fee to sell your home as easily as a coffee machine on eBay. It sounds like it makes sense, and with Asda very deep pockets, they are as likely a

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

anyone to make this successful.

The reduced commission fees on offer sounds like it could be worth your while to use their website. However, you would be relying on buyers accessing th

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

e portal to find your home, which would limit the exposure of your property. There are many more established property websites out there, and estate agents are still vital to give advice

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

Following aspects would a

on the property itself. There is simply no substitute for experience.

Selling your own home through the internet is, and will continue to be, a small market. The reason why there are s

dd to the challenges in developing combination products:

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

many estate agents is they provide a service for people who don’t have the time, the energy or the expertise themselves. For Asda to have an impact on the market by promising a free HIP

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

, assumes you will want to sell your home yourself. If you don’t, then the offer of a free HIP is rather academic. Most people don’t use a HIP today, and many don’t know what they are. T

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

herefore, offering something for free that people don’t know they need, is unlikely to be enough incentive for them to change the way they buy and sell their home.

The other issue is wh

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

ther Asda will be able to produce HIPs, accurately and in a timely manner. Supermarkets are not known for their generosity when it comes to paying their suppliers.

With HIPs, this will

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

Professional from academic institutions, pharmaceutical industries, health care indust

have a serious impact on their ability to instruct home inspectors to produce the home condition report.

If they are not charging for the HIP, it could mean they will not pay for the in

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

spector upon the completion of the inspection. Not an attractive proposition to inspectors looking to choose a provider. Also, if there are any questions about the legal aspects of the H

.

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

P, the level of support they could afford to supply is also questionable.

Asda’s planned expansion into estate agency and free HIPs is interesting, although the devil is in the detail.

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

Companies that provide selfless information through particip

While it may not guarantee the death knell for estate agents, it will certainly challenge traditional assumptions of many in the industry.

Peter Ambrose is a director of The Partnership

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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