Actual - Real Estate

Condominiums have made homeownership affordable for many people. This is particularly the case on the West side of Los Angeles, where the prices of single family residences are prohibitive to even the most well heeled professionals. There are however many things to consid

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

er when buying a condo in these areas.

Earthquake Insurance:
Approximately half of all condominium and townhouse buildings on the West side have earthquake insurance included in the homeowners dues.

Pros:
This protects the owners from having to come up with fu

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

Examples of combination products may in

nds to pay for repairs, should an earthquake occur. Price of construction per square foot in Santa Monica, Brentwood and other West side neighborhoods can be anywhere from $150-300. This makes a complete rebuild on a 1000sf condo at the very least $150,000 up to $300,000.

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

Often the insurance provides funds for replacement housing should the homeowners need to move out during reconstruction. Some, not many, buildings were completely torn down and rebuilt after the Northridge Earthquake in 1994. So no matter what the deductible, these buil

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

dings were happy to have had earthquake insurance.

Cons:
Earthquake insurance can be very costly. Premiums tend to be significantly higher for buildings that are looking for new coverage as opposed to buildings who signed on for coverage 20 years ago. The deductible

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

Combination pro

can be upwards of $250 -500,000, much higher than what most buildings in Santa Monica suffered during the Northridge Earthquake in 1994. Personal Assessment Insurance can be had for a maximum of $50,000per condominium. You would be covered in an instance where your 10uni

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

t condo building had $500,000 worth of damage.

The federal government often supplies subsidized loans at very low interest rates for disaster victims.Many buildings in Santa Monica had to go through years of court action before their insurance providers would give them t

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

he financial assistance that was owed to them

Earthquake Insurance FAQ's:
All of the units in a condo building need to subscribe to the Earthquake Insurance policy. Coverage cannot be given to units on an individual basis.

Pet Policy:
Most condominium building

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

s have a restriction on pet size. Smaller building and townhouse buildings tend to be more liberal while large buildings are more conservative. Pet size restrictions tend to be by poundage and number of pet limits. The most common is two dogs or cats under 20lbs each. Ot

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

her buildings have 30 and 40lb limits. The average Labrador is over 40lbs.

If you have a pet or plan on getting one make sure you read the CC&R's on pet restrictions. The CC&R's are the rules that govern the Homeowners Association.

Pet Policy FAQ's:
If a homeowner

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

reaks the rules with regards to pet size or number the pet will be mandated to leave the building. If the pet does not leave the HOA can place liens on the property and or force court action to have either you or your pet forbidden entry.

Amenities:
Many people enjo

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

Following aspects would a

y the idea of amenities such as pools, sauna, 24hour guard gated access. For many residents of these buildings these amenities never become truly valuable. There are thousands of residents of local condo buildings who use the building pool about once a year. Additionally,

dd to the challenges in developing combination products:

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

in Santa Monica and Brentwood there are many local gyms that do a better job of motivating you. So, if you are going to buy in a building with amenities, and therefore higher homeowners dues and purchase prices, make sure you are going to take full advantage of them.

I

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

should also mention that if you are looking to live in a luxury building; say an ocean view condominium on Ocean Avenue, none of the above applies. You are going to have amenities whether you like them or not and enjoy using or not using every minute of them.

Reserves:

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

r> After the Homeowners Dues are collected and used to pay debits to the different vendors the left over money is put into reserves for the building. Funds from the reserves can be used in case the building needs a new roof or upgrades to the hallways and common areas.

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

ifference between a Condo and a Co-op:
In a condominium, the owner owns the space inside the walls individually and the common areas collectively as part of a group. It is a pure form of homeownership, with the same rights and responsibilities of a single family home

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

Professional from academic institutions, pharmaceutical industries, health care indust

. A co-op is owned by a cooperative that issues shares to the building and the right to occupy a given unit. As the owner, you own shares in the building not the space inside the walls. Your right to occupy a particular section of the building is usually issued via a leas

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

e term that renews every fifty years or so. About 95% of the multi-unit inventory in Los Angeles (Brentwood) and Santa Monica is condos. In New York City the majority of units are co-ops. The difference between buying a condo or a co-op in Santa Monica and Los Angeles is

.

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

that buyers of co-ops tend to have less financing options available to them. You also have to be "approved" by the board. Here on the West side the boards are pretty liberal in contrast to the stories you might have heard about New York City co-op boards.

Difference betw

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

Companies that provide selfless information through particip

een a Townhouse and a Condo:
In Santa Monica and the other neighborhoods of the West side of Los Angeles, people refer to single story residences as condos and double or triple story residences as townhouses. These are both condominiums in the legal sense of the term

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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