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Top Adding - The Successful Entrepreneur - An Inspiring Example
I have been in the privileged position to watch many successful people rise from poverty to stunning financial success. But one of my associates and close friends, Jennifer Benning did it spectacularly. She used the investment vehicle of real estate as her specialization, but its what she d
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
id with it and the results that followed that really sent goose bumps along the arm.
Jennifer took precisely 11 months to come from obscurity to over a $1 million dollar bank balance. She did it with flair and unbelievable creativity. Here's her story.
Jennifer came from a big family and
Jennifer took precisely 11 months to come from obscurity to over a $1 million dollar bank balance. She did it with flair and unbelievable creativity. Here's her story.
Jennifer came from a big family and
; 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
he was the youngest out of 12 children. She had just left school and started her new life as a video shop attendant and was promptly dissatisfied and unhappy with her immediate prospects. Her older brother Andrew was an associate of mine and gave baby sis some ideas. She was not ready in pr
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
vious years as school was an enjoyable experience and boys and friends took up most of her time. It took the drudgery and low paid demoralized experience of a 50 hours per week job to register with Jennifer that this was definitely not what she wanted from life. She had become the perfect p
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
pil thanks to the very job she sought to abandon as promptly as possible.
Armed with the information she was given in the literature we all had read as a group of friends all those years ago, she had suddenly seen the light and answers were present where once there were only questions.
Th
Armed with the information she was given in the literature we all had read as a group of friends all those years ago, she had suddenly seen the light and answers were present where once there were only questions.
Th
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
following formula struck home with Jennifer.
problem + solution = profit
She had a few thousand saved, however the help she got from her parents was helpful even if it did work out that had she not received the help she still would have achieved the same results. Her parents offered to p
problem + solution = profit
She had a few thousand saved, however the help she got from her parents was helpful even if it did work out that had she not received the help she still would have achieved the same results. Her parents offered to p
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 the family home up as equity against the property deal she had found and it was a beauty.
Jennifer immediately began scouting for a deal at the local real estate agents and brokerage houses. She used the internet extensively and after a few weeks of hard work could not find what she had
Jennifer immediately began scouting for a deal at the local real estate agents and brokerage houses. She used the internet extensively and after a few weeks of hard work could not find what she had
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
envisaged. A property with problems that could easily be fixed for a profit. At a family gathering she relayed that information to her brother Andrew who encouraged her and gave her more inspiration to keep looking. That night she was on the internet again and she was suddenly inspired to m
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ke a wider search for more expensive properties as previously she had been looking at properties for under $200,000
Her new search included houses under $1 million. There it was, asking price $520,000 She made her calls to investigate her due diligence questions and the results were intere
Her new search included houses under $1 million. There it was, asking price $520,000 She made her calls to investigate her due diligence questions and the results were intere
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
ting. The building was a large 52 room boarding house that was unused. An older lady lived there by her self and was looking to sell it so she could re-locate closer to her family.
Jennifer made an offer on the property the following day after inspecting it and traveling back home to talk
Jennifer made an offer on the property the following day after inspecting it and traveling back home to talk
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
o Andrew and crunch the numbers. She found the building to be in good condition, if a little run down, the foundations seemed solid. Her idea was to access the excess intrinsic value in the property by getting subdivision certificates for each and every room of the building. Her plan was to
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
have the place painted and minor repairs taken out on the roof and exterior.
Her offer was for full price asked providing the deposit was only $3000 and the escrow was 4 months or 160 days. The vendor was in more of a hurry, but without much other competition for this building she eventual
Her offer was for full price asked providing the deposit was only $3000 and the escrow was 4 months or 160 days. The vendor was in more of a hurry, but without much other competition for this building she eventual
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
y accepted the terms.
Jennifer also negotiated immediate access to the property so the work could begin on her investment. She had never picked up a paint brush in her life, but she was motivated and ready to learn by trial and error. With the help of family and some professional help on t
Jennifer also negotiated immediate access to the property so the work could begin on her investment. She had never picked up a paint brush in her life, but she was motivated and ready to learn by trial and error. With the help of family and some professional help on t
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
e big jobs, she completed all she envisaged within 55 days into the escrow period. The condo certificates had been applied for and were slowly starting to filter through. As soon as the first few came in she had an agent appraise the newly created studio apartments and immediately had them
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
listed. The agents confident opinion was that each was worth between $30,000 and $40,000!
By the time escrow had come and settlement was to take place, she had 15 contracts in place. In other words she had already sold 15 of the 52 trendy studio apartments she had created. With this equity
By the time escrow had come and settlement was to take place, she had 15 contracts in place. In other words she had already sold 15 of the 52 trendy studio apartments she had created. With this equity
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
she didn't need to use her parents equity in their family home to secure the finance required. Her existing sales totaled $612,542 which exceeded the purchase price of the boarding house.
Bank managers were tripping over themselves to offer the finance for this deal despite the fact that
Bank managers were tripping over themselves to offer the finance for this deal despite the fact that
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
he had no long term work history or any immediate access to cash. The equity added up in their books and they didn't need any further security.
Of course the best part was still to come. She was the proud owner of the remaining 47 apartments which were now owned by her free and clear. The
Of course the best part was still to come. She was the proud owner of the remaining 47 apartments which were now owned by her free and clear. The
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
otal value of those studio's were in the vicinity of $1 and a half million dollars.
But that wasn't the end of the story. She was now ready and capable of adding even more value. She noticed a large percentage of the people looking at the apartments were actually investors and not people w
But that wasn't the end of the story. She was now ready and capable of adding even more value. She noticed a large percentage of the people looking at the apartments were actually investors and not people w
.
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
nting to inhabit the studio's so she employed a property manager to fill the existing vacancies of this building. This was another increase in value because with an existing tenant paying a lease the apartment was now an investment ready made package. Just what these potential investor want
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
d and needed to secure their own finances.
By doing so, she added even more value so her final calculated return after all costs was nearly $2 million before tax. She sold the last apartment nearly to the day of a year after first finding the building on the internet.
Martin Thomas (c)200
By doing so, she added even more value so her final calculated return after all costs was nearly $2 million before tax. She sold the last apartment nearly to the day of a year after first finding the building on the internet.
Martin Thomas (c)200
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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