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Condominiums have been in the news in recent years, sometimes for the wrong reasons.

In British Columbia, thousands of people have lost millions of dollars in equity because they bought condos that turned out to be leaky. The situation became so serious that the Provincial Government launch

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

ed an inquiry, which ultimately came up with a compensation package for distraught property owners. And those property owners were really in distress. The members of the Barrett Commission, in charge of the Government inquiry, stated that they had never encountered anything like the passion and rage of peopl

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

Examples of combination products may in

who felt their homes had been violated and their finances shattered - by water. It turned out that the construction techniques, which work well in California and Arizona, do not work equally well in the soggy weather of Canada's West Coast, no matter how nice all those wooden exteriors look.

On the other h

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

nd in Toronto, in the post-September 11 real estate boom, condos were again big news as they came to dominate new home sales in the built-up urban areas. According to the Greater Toronto Home Builders Association, fully 80 percent of all sales in the 416 area code were condos, while the numbers were reversed

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

in the 905 suburban area, where 80 percent of all sales were non-strata freeholds. This is of great interest, since condos have accounted traditionally for just under 30 percent of the market, with one notable exception: before the real estate collapse of 1989.

To be precise, a non-strata freehold interest

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

Combination pro

n land is one in which the titleholder owns ‘everything' - from lot line to lot line, whether it is a detached house, side-by-side duplex or even townhome. He owns the grass, driveway, bricks, shingles, windows and walkway. Not so with the condo, where what it is own goes from the inner one-half of a wall to

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

the inner one-half of the opposite wall, and floor to ceiling as well. The condo owner, furthermore, shares in the ownership of everything else in the development with all the other owners, including outer structure, parking garage, elevators, landscaping, windows and roof.

Condos can also come in different

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

varieties, not just as apartment buildings. There are condo lofts, condo townhouses, condo commercial units and rural communities with acres of common grounds. Typically some of the common features that everybody owns are set aside for the exclusive use of individual owners, such as balconies or backyards, l

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

ckers and parking spaces. Condos are bought, sold and mortgaged just like regular non-strata freehold interests, but the owner only insures the contents of the unit, while the strata corporation carries insurance on the physical structure itself. Condo owners pay a regular monthly fee for common expenses suc

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

as outside maintenance, ongoing repairs, landscaping and utilities for common areas, as well as a contribution to a reserve fund to be used in emergency situations.

Like homes, condos come in all price ranges and can be a great way for first-time purchasers to get into real estate, moving from rental tenan

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

y to ownership in a small apartment unit. At the other hand of the scale, aging Baby Boomers are selling off their mansions, which require lots of care and attention, and move into luxury condominiums which offer a more liberating lifestyle as well as added security.

Indeed, there are distinctive advantages

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

Following aspects would a

to purchasing a condominium. For example, there is no outside maintenance to worry about - no grass to mow, snow to shovel, roof to patch or driveway to seal. All this work is arranged and contracted out by the strata corporation. This means, one can have an exceptionally carefree lifestyle, knowing that so

dd to the challenges in developing combination products:

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

eone else is looking after the chores.

Also appealing is the stable nature of the ongoing costs of ownership. With a single-family detached house one just simply never knows when the furnace is going to quit or, worse, the hot water tank is going to give up and flood the basement. With the condo, the predet

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

rmined monthly fee takes care of everything. Furthermore, speaking of money, it costs far less to find a nice condo residence in a demand neighbourhood than a single detached house in the same location.

Another big plus for people who like big swimming pools, exercise rooms, libraries or even art galleries

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

s that condo developments often come with such amenities built right in. When everyone contributes through their monthly fees, some impressive things can be achieved.

So therefore, is condo life ideal for everyone? Definitely not.

Some people absolutely despise the loss of personal freedom that condominium

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

lifestyle invariably brings about. Because one does not fully own the unit he lives in, one cannot control or even change it without collective agreement. This means making no exterior improvements or even internal renovations in some cases. There can be a great deal of rules and bylaws, and they can change

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

Professional from academic institutions, pharmaceutical industries, health care indust

t the whim of the majority of the property owners, who may not share the same vision or who may collectively decide that major renovations or improvements are required. The owners may decide that additional money may be collected on top of the monthly fees, and the strata corporation can place a lien on a un

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

t if the owner refuses to pay up.

There have been instances in deluxe developments where prospective purchasers have had to be sponsored by existing condo owners, and then had their own personal finances and habits examined to be eligible for admission!

Less dramatic, but equally important, are the possibl

.

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

restrictions that can be imposed on ownership of a dog or cat. Also privacy is drastically reduced, compared with a single-family house. Then there is the value of the unit itself to consider, entirely dependent on how much a similar unit has sold, even on a different floor.

So therefore, condo ownership i

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

Companies that provide selfless information through particip

an entirely different ballgame, which does not suit everyone. A careful scrutiny of the development in which the condo is being purchased always help, but in ultimate analysis what counts is the capability of the purchaser to adapt to an entirely different lifestyle.

Luigi Frascati

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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