Advice You - Business

Have you asked yourself that question lately? I did and I decided the answer was yes. Let me tell you what led up to it.

I hav

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

e been using realtors to purchase some of my investment properties. The Multiple Listing Services can be a great place to find p

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

Examples of combination products may in

operties, and one has to be a licensed realtor in the US to access them. I’m not sure what the laws are in other countries, so t

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

is discussion will be of only the US.

Each time I buy a property, the realtor collects almost 3% at the closing, and in order to

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

sell properties quickly, I also list with a realtor and pay almost 6%. I always assumed it was a real pain to go through the pr

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

Combination pro

cess to become a realtor, and besides, I am a real estate investor – why would I want to be a realtor?

A realtor that I used whe

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 I live in Boulder told me I should get my license just to invest in real estate. He explained that in Colorado I could do an o

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

nline course for as little as $795 and take the exam then host with Keller-Williams for way under $100 per month. I never realiz

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

d it would be that inexpensive.

When he also explained that after my first few deals that there was NO SPLIT on personal deals –

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

I was sold!

One of the things we investors like to do is get cash at closing. I have my strategy to do just that now! I have a

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

financer who does 100% investor financing and now I can collect the buyers agent commission at closing! Cha-ching!

Selling my p

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

Following aspects would a

roperties is easy because I can do my own listing on the MLS and not pay a listing agent fee.

I would say an equally compelling

dd to the challenges in developing combination products:

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

eason I chose to become a realtor is for the access to the MLS. You might say that is not important, but even when you are buyin

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

a “for sale by owner” or FSBO, you must have a good idea what it is worth. No one can know all possible neighborhoods, so if yo

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

u want to do a lot of shopping, you have to run a lot of comparables.

Some realtors may run several for you – some may run quite

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

a few, but I like the idea of sitting down myself and doing my own market analysis. Yes, I know there are other ways of getting

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

Professional from academic institutions, pharmaceutical industries, health care indust

ata, but nothing beats the MLS for convenience. I trust my own analysis over anyone else’s, so the access to data means a lot to

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

me.

That is why I made the decision to get my license. I get more information and control and the cost is recovered in just on

.

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

personal deal. Yes, there is a time commitment to a company, but it will not deter you from your investing activity.

If you di

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

Companies that provide selfless information through particip

agree with me and want to use a realtor, then if you are anywhere near Boulder…by all means call me :)

Copyright 2006 Ron LeBlan

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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