Top Adding - Real Estate

Simply put, you can carry a home of your own for no more than what you would pay in rent. And, unlike renting, your payments go toward increasing the equity in your home.

So, what’s stopping you? For most people who

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

have never owned a home before, it’s the initial down payment and the ability to keep up with the monthly financial obligations (mortgage payment, insurance, utilities, maintenance).

The effort to save for and buy a

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

Examples of combination products may in

home may require you to make significant changes in your way of life. For most people, it means changing their spending and lifestyle habits to support the additional costs of saving for, paying for, and maintaining

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

home.

One of the best ways of saving for a down payment is to take advantage of government programs available to first-time home buyers. A real estate professional can help you understand how these programs work an

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

d ensure that you get the maximum benefit possible.

RRSP Home Buyers’ Plan

Contribute to a Registered Retirement Savings Plan (RRSP) regularly and to the maximum allowed. The federal government’s RRSP Home Buyers’ P

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

Combination pro

an enables eligible taxpayers to withdraw up to $20,000 tax free from their plan to buy or build a qualifying home. The amount of money withdrawn must be repaid within 15 years.

If you buy the qualifying home togeth

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

r with your spouse or other individuals, each person can withdraw up to $20,000 tax free. A government form must be completed for each withdrawal. Generally, an RRSP holder can participate in the Home Buyers’ Plan on

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

ly once in a lifetime. The pamphlet, Home Buyers’ Plan (HBP) - For 1998 Participants, is available from Revenue Canada and will help you determine if you are considered a first-time home buyer.

A qualifying home is

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

housing unit located in Canada. Those participating in 1998 have to buy or build a home before Oct. 1, 1999. You must also agree to occupy the home as your principle residence no later than one year after buying or

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

uilding it. Once you occupy the home, there is no minimum period of time that you have to live there.

Ontario Home Ownership Savings Plan (OHOSP) OHOSP is a provincial program where participants receive interest on

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

he money they deposit and may receive a tax credit. If you earn less than $40,000 a year, or if you and your spouse have a combined income of less than $80,000, you can benefit from the program. To be eligible, you

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

Following aspects would a

must be an Ontario resident over 18 years of age with a social insurance number and have never owned a home.

While there is no limit to the amount of money you may deposit in your OHOSP, you can only receive OHOSP t

dd to the challenges in developing combination products:

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

x credits on annual contributions of $2,000 ($4,000 per couple) or less. Depending on your annual income and the amount of money you invest, you can earn up to $500individually or $1,000 a couple in OHOSP tax credits.

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

Participants are eligible for tax credits for five consecutive years and must close the plan and use the funds to purchase a home by the end of the seventh year. Otherwise, OHOSP tax credits must be repaid with inter

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

est.

An OHOSP plan, with interest earned at competitive rates, may be opened at any participating financial institution. To qualify, a home must be located in Ontario and be suitable for year-round residential occup

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

ncy. In addition, you must live in the home for at least 30 consecutive days within two years of the date of purchase.

CMHC five per cent down

While Canada Mortgage and Housing Corporation’s (CMHC) five per cent dow

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

Professional from academic institutions, pharmaceutical industries, health care indust

option program doesn’t help you save for the down payment, it sure eases the way to home ownership. With as little as five per cent down, all home owners now have access to CMHC mortgage insurance. This means CMHC

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

may insure the mortgage on your home (against default in payments) for up to 95 per cent of the lending value of the home. This helps make home ownership a reality for many Canadians who can afford monthly mortgage p

.

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

yments but would have trouble saving for a larger down payment.

Previously available only to first-time home buyers, the program was expanded earlier this year to include all home buyers. Eligible borrowers include

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

Companies that provide selfless information through particip

nyone who buys a home in Canada and occupies it as a principle residence. The mortgage insurance premium in 1998 is about 3.75 per cent of the mortgage loan and can be added to the mortgage or paid on a monthly basis

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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