Top Adding - Real Estate

If you ask "How much is my house worth?" I have two answers for you. First, if you don't really need to sell it, it is worth whatever you say it is. If y

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

ou can honestly say, "I wouldn't sell this house for less than $300,000," then it is worth that much to you. Of course, if you need to sell it, what it i

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

Examples of combination products may in

s worth to you is entirely irrelevant.

Market value is the only relevant value once you are ready to sell. This is the value according to all the home b

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

uyers out there. They don't care what you spent renovating the house, or what you originally paid. Spend $50,000 adding a pool, and they may only pay $20

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

,000 more for the home. Real estate is worth what the market says it is worth.

A True Story About Market Value

As a real estate agent, I once di

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

Combination pro

d what was then called a "comparative market analysis" for a young couple who were getting ready to sell their home. This is sometimes just called a "mar

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

ket analysis," a "selling price analysis," or something similar. It essentially consists of comparing the home to others that have recently sold in the a

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

rea, to see what it should sell for.

I spoke to the couple, looked over the home and took my notes. I promised to return the next day. I carefully dug t

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

hrough the "sold" books (this was before everything was computerized) and found nearby homes that had sold within the last six months or so. I did my adj

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

ustments and all the other work that I had to do, and came up with a market value of $115,000.

"$115,000!" They blurted out in unison. I was sitting wit

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

h them at their kitchen table, and I had all the papers with me. I showed them the "comps," or the listing information on homes that had sold. I felt tha

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

Following aspects would a

t I did my homework well.

"But we paid $90,000 for the house two years ago and last year we put $40,000 into remodeling the kitchen!" Having perhaps a b

dd to the challenges in developing combination products:

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

it less tact than I have now, I politely explained that I took the kitchen into account. The kitchen was lovely, I assured them, and their $40,000 invest

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

ment had probably raised the value of the home by $10,000. Neither a market analysis nor a formal appraisal can take into account the desires, feelings o

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

r expenditures of sellers.

They chose not to list with me. Normally in a case like this, the sellers then find a real estate agent with lots of patience

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

or little business. That agent agrees to list the home for too much, hoping that one day the sellers will get desperate to sell, finally face reality, l

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

Professional from academic institutions, pharmaceutical industries, health care indust

ower the price and take their lumps. The sellers often get frustrated waiting, and end up selling for even less than they would have gotten if they had p

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

riced it right to begin with.

Market Value

What is market value? It isn't what you have into your house. It isn't what you feel it is worth. It

.

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

is what the market will pay. How do you figure out what the market will pay? For single family homes, the most effective method is a comparative market a

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

Companies that provide selfless information through particip

nalysis, whether done by a real estate agent or as part of a formal appraisal. You can even learn to do this by yourself, but that is for another article

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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