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When you have located your property, agreed a price and satisfied yourself (or your solicitor) that the property is free from all encumbr

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

ances and debts and or planning problems, it is structurally sound, bank guarantees are issued if it is a new build and that you are gett

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

Examples of combination products may in

ng a good deal, then it is time to draw up a private contract.

This is a document that states in simple terms that you agree to buy and

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 seller agrees to sell the property as mentioned. It also stipulates the terms and conditions of the sale, what the price is, what is

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

ncluded in the price, when the completion date will be, what the amount of the deposit will be, how this will be paid, what the total am

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

Combination pro

ount to be paid is and how this is to be paid and anything else that is deemed important. Your solicitor will either draft this up for yo

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

or the agent will have drafted it so you need your solicitor to check it out.

Now then one piece of advice well worth heeding.

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

If the purchase of the property is dependent on anything – anything at all - ensure this is in the contract. If you need a mortgage and

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

ou cannot purchase the house without it – and you subsequently don’t complete because you couldn’t obtain a mortgage – You LOSE your depo

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

sit. In total.

I have seen it happen only once – the gentleman in question bought a house without having sold his first. He was convince

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

he would easily sell his house. He had bought cheap, and done lots of reforms to it, it was in a good location. But he took too long to

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

Following aspects would a

omplete the reforms and put his house on the market – in the meantime the UK market fell considerably affecting the Spanish Market and he

dd to the challenges in developing combination products:

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

couldn’t sell his house. His 5 months (an unusually long time from private contract to notary) was up and he lost in the region of ?40,0

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

0.

Had he have listened to advice and stipulated in the contract that the purchase was dependent upon the sale of the house (something t

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

he seller would have agreed to at the time) then he would have been safe. But he didn’t listen and thought he knew best.

Let me repeat t

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

is just once more.

IF THE HOUSE PURCHASE DEPENDS ON ANY FACTOR – PUT IT IN THE PRIVATE CONTRACT

Once the private contract is si

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

Professional from academic institutions, pharmaceutical industries, health care indust

gned you will then pay the 10% deposit (or whatever the deposit agreed is). Failure to meet the conditions of the private contract will l

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

se you your deposit.

If the seller backs out then he must pay you your deposit back plus the same again.

If you want more useful advice

.

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

about buying property in Spain - including how you can potentially reduce the cost of your proeprty by some 3-25%, then go visit www.spa

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

Companies that provide selfless information through particip

ishproperty-direct.co.uk/book.htm. For more interesting articles on buying in Spain visit www.spanishproperty-direct.co.uk/articlepage.ht

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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In an earlier article, author Michael Yates drew attention to the need to review assets and the manner in which they are held in order to escape liability to inheritance tax in the United Kingdom. The key lies in domicile, even more so after the British Government's decision to tax the most basic of estate planning arrangements. So what is domicile?

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