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Actual - The Reality About Rental Guarantees
Rental guarantees are a common feature in today’s overseas property market and are used widely by developers to attract investment-minded
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
buyers, looking to earn a rental income from their overseas property. Simply put, these guarantees are a commitment to return a percenta
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
e of the purchase cost of a property to the buyer each year for a fixed term. Ostensibly, the developer recoups this money by renting out
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 property having secured an agreement with a tour operator, or by marketing the property itself, or via a lettings agent.
This sounds
This sounds
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
an attractive proposition, but rental guarantees should be examined closely. Firstly, unscrupulous companies may simply be inflating the
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
sale price of the property in order to cover the rental return.
“Too often guarantees are just a shallow marketing hook which is being i
“Too often guarantees are just a shallow marketing hook which is being i
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
creasingly abused,” says Guy Hamilton Simcock of Bulgarian agent Orpheus International. “Try asking how much the property would be withou
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
t the rental guarantee. This may draw the salesperson into saying we’ll give you X off the price – in which case you’re being over-charge
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
.”
Buyers should also shop around carefully to see the cost of comparable properties in the same area. Find out whether the developer ha
Buyers should also shop around carefully to see the cost of comparable properties in the same area. Find out whether the developer ha
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
an agreement in place with a travel company or lettings agent. If not, then how do they plan to find tenants and ultimately pay the guar
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ntee. Examine the fine print of your contract to see who is actually guaranteeing you the money.
'Rental guarantees are marketed with al
'Rental guarantees are marketed with al
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
arming regularity,” says Paul Owen, CEO of the Association of International Property Professionals. “The simple rule is: if it is not in
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
he contract, it's not guaranteed. Potential rental incomes are often reclassified by salesmen as 'guaranteed', though this is never in wr
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ting. Check the contract and recognise that no mention means no guarantee. Even rental guarantees in the contract should be scrutinised b
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
y an expert. Make sure you hire a lawyer to check them before you sign anything.”
According to Gurkan Ozcan of Turkish law firm Acacia I
According to Gurkan Ozcan of Turkish law firm Acacia I
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
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
ternational, rental guarantee agreements are not compatible with the Turkish legal system and throw up many practical problems. Their leg
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
l basis is also far from secure.
“A set annual return on your investment can only be legally guaranteed if the developer provides a lett
“A set annual return on your investment can only be legally guaranteed if the developer provides a lett
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
er of guarantee from its bank,” Ozcan explains. “However, this would only guarantee you the money for the first year, and would have to b
.
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
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
renewed every year by the company.”
Ozcan does not recommend entering into rental return agreements, unless you are dealing with a repu
Ozcan does not recommend entering into rental return agreements, unless you are dealing with a repu
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
able company. However, he suggests that this situation may change in the near future with the introduction of a mortgage system in Turkey
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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