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Many great commercial real estate investors rely on sharp negotiation skills to get the terms they want on a deal. They are fast on their feet and know what they want going into the deal. Good negotiators know what they are and are not willin

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

g to do when going into a negotiations setting.

Commercial real estate allows for all sorts of terms to be discussed. There is the obvious price factor, but then there are down payments, taking back seconds, taking over existing debt and mor

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

Examples of combination products may in

gages, short term and long term owner financing, conditional clauses and a myriad of other factors that can make negotiations quite involved, and interesting.

Some deals are easy as both parties can agree on the terms very quickly and see th

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

deal eye to eye. Or, the terms are so simply negotiated that each party is willing to give a little for the well being of both parties.

Then there are the deals that are hard, long, and difficult to negotiate. When two parties simply don’t

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

see eye to eye, you can bet that tough negotiations can ensue. There may be factors that a party will not be willing to budge. These are known as bottom lines- they are not willing to go any lower or negotiate further on an issue. If the comm

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

Combination pro

rcial real estate investor is tough, they will be willing to walk away with the deal on the table. You cannot involve personal emotions or interest in many commercial real estate deals because it causes for messy negotiations with unclear thi

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

king and motives. You can bet your decisions will not be backed by solid evidence and supported justifications when personal emotions are involved. There will always be another commercial real estate deal around the corner.

With negotiations

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

being such an important aspect of the commercial real estate investor’s livelihood and success, it is highly suggested that no one else does the negotiations. The person making the deal should be the one negotiating. You may have your lawyer

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

or accountant there for consultation or support, but always do negotiations yourself. It will be far more effective.

There are absolutely two things you must do when headed into a negotiations situation- regardless if you think negotiations

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

re going to be simple or challenging. The first is to always be prepared through homework and research. The other is to take your time. These two points seem rather obvious and simple at first glance, don’t you think? I wonder then WHY so man

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

people refuse to do these two things before negotiating a commercial real estate deal, or any deal at all. For example, would you go to purchase a car without knowing what it is that you want, what price you are willing to pay, and what th

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

Following aspects would a

e average purchase price was for the car that you wanted? I would hope not.

Coming prepared may require extra work on you and your team, but it is absolutely worth it when you want to make a deal happen. Understand what the other side wants

dd to the challenges in developing combination products:

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

nd what they are going to do with the results. Did they have prior problems or have future goals? How does this deal pertain to those factors and what can you do to either help or hinder their operations?

Perhaps you can sweeten the deal wit

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

something they need or play hard ball by bringing up a topic that will force them to sway in your favor.

How would you handle their predicament any other way? You must know what you want and know their situation even better than they do. If

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

they do not come as prepared as you, you will definitely have the upper hand. By understanding their situation you know how to maneuver around them and get what you really want- no matter what.

The second tip is to take your time. Many peop

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

e go in and want to get the negotiations over and done with quickly. This is not to your advantage. You want to think of all avenues, have time to think and the other party thinks of any ramifications the deal might have. If you need to pull

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

Professional from academic institutions, pharmaceutical industries, health care indust

factor in your favor, the longer you take and more time you spend negotiating, the more the other party realizes that you are going to get what you want, or no deal.

When you better understand the urgency, the true urgency of the other part

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

y (by coming prepared) you can better judge how to react to their demands. Always take your time, take it one point at a time and don’t rush it. Top negotiators would say this is your best approach.

How successful are you in your commercial

.

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

eal estate negotiations? Do you find yourself not being prepared and rushing through? Or do you take the time to perform pre-negotiation research and go into the negotiations calm, cool and ready to take things slow.

Try these negotiation ti

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

Companies that provide selfless information through particip

s and see how you can improve the outcome of your deals. Sell yourself and your needs and understand the other parties needs even better than your own and most likely you will come to a fine agreement- or at least one that falls in your favor

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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