Actual - Real Estate

With the advent of lifestyle TV shows like the BBC’s Under the Hammer, buying at auction is becoming increasingly popular. Bargains are possible, with up to

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

40% off the open market value, and the process is extremely quick.

The most obvious properties that spring to mind are ones which lenders have repossessed.

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

Examples of combination products may in

However, perfectly ordinary property and redevelopments are often seen at auction too!

Unfortunately, these auctions are not always well publicized. The bes

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

place to look for property for sale by auction is on the Internet, or via local and national newspapers. Remember the process takes roughly three to four we

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

eks from advertisement to auction day, so it is important to get a catalog and investigate your property well in advance. Top Tips

Click below for a shortc

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

Combination pro

ut to each section:

Get a catalog

Do your research

Have a realistic budget

Make sure the finance is in place

Get a decision in principle

Retention

Kno

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

your maximum bid Get the catalog.

Contact the auction house several weeks in advance and ask for a catalog. Those in the trade get sent these automaticall

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

y, so a little more work is required on the private buyer’s behalf.

Do your research!

This is vitally important as the tight timescales mean that it is tem

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

pting to cut corners or take the catalogs’ description as gospel. Cut corners at this stage could be expensive if structural defects are established after th

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

sale. View the property, ask the neighbors about it, instruct a surveyor and establish good root of title.

Have a realistic budget.

There will be consider

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

able legal and valuation fees to be paid without any guarantee of getting the property you desire. Whilst this will deter people who are not serious about bi

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

Following aspects would a

dding, it does mean that you must have the ability to match other bids. If you don’t win, a bill of over a thousand pounds is likely on a standard residentia

dd to the challenges in developing combination products:

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

dwelling.

The finance will have to be in place by auction day.

This means that a deposit of 10% will have to be available on the day, with the remaining 9

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

0% payable within 28 days. The 10% will not be refunded if the sale doesn’t go through! This means that there’s no backing out without a significant financia

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

l penalty. Be sure that you want the property.

Get a decision in principle

If you need a mortgage or bridging finance, make sure you have a decision in pri

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

cipal from a mortgage lender. The best way would be to use a broker: ask them whether the illustration they are showing you is a Decision in Principle (DIP).

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

Professional from academic institutions, pharmaceutical industries, health care indust

A DIP means that the lender has agreed to lend a certain sum based on certain assumptions and details submitted to them.

Retention

If the property needs s

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

ubstantial repair, the mortgage lender may place a retention on the mortgage. This means that they may keep a portion of the funds until changes are made to

.

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

he property. The auction winner must make adequate provision for these extra costs.

Know your maximum bid

Know your maximum bid and don’t get carried away.

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

Companies that provide selfless information through particip

It’s easy to get carried away in the atmosphere of an auction room. Ever bought something you regretted on Ebay? Imagine that mistake magnified by thousands

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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