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Bulgaria is a country of immense variety, both geographically and culturally. As a destination, the country has received widespread recognition within the last couple of years. Although Bulgaria is fast becoming one of the most popu

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

lar countries for tourism, there are still many locations that have not yet been discovered – so if you are looking for an up and coming resort, this could well be the country to start your search.

Also Bulgaria’s full potential has

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

Examples of combination products may in

yet to be fully recognised or achieved. With the economy growing at 6% per year and unemployment falling fast (just 12% currently), Bulgaria’s economy is quickly integrating into the EU prior to its anticipated membership in 2007.

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

Internal investment continues apace with international organisations predicting continued economic prosperity for the foreseeable future.

Initially the interest from International investors in the property market was generally conc

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

entrated in the coastal beach resorts of the Black Sea. Now as the market has developed and matured there is an ever-increasing variety of property becoming available which appeals to the differing interest and needs of internationa

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

Combination pro

l buyers. If you are looking to invest in property in Bulgaria, you can now choose between the beautiful mountain ski resorts, historic villages, the Black Sea Coastal Resorts or the capital city of Sofia.

One thing to bear in mind

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

is that the weather in Bulgaria is definitely season controlled, so although buying one or more apartments in say Sunny Beach should also bring you a rental income through the summer months, it will not be rented over the winter, as

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

temperatures are often below freezing – not a nice place to be when the resort is not equipped for winter letting. If however, you decide to go for a mountain resort like Bansko, then you will obviously find that the best rentals

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

are often going to be during the skiing season, but as Bansko in particular is an established town, there is still plenty to see and do during the other seasons. So you would normally expect to receive a longer rental period for a

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

property in Bansko than in for example Sunny Beach.

Is this the right time for investing in property
There has not really been a better time to invest in property in Bulgaria, and record property sales have bee

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

n recorded recently. As an example the sale of holiday apartments in Bulgaria's Black Sea and Mountain Ski Resorts increased by up to 40% in the 12 months to Dec 2004, and a further 25-30% in year to Dec 2005. Forecasters expect

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

Following aspects would a

prices will continue to increase 20%-30% annually until at least2007 which is when Bulgaria is expected to become a member of the EU. Bulgaria has made a bid to host the 2014 Winter Olympics, and if successful these would be in V

dd to the challenges in developing combination products:

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

itosha (Sofia), Bansko and Borovets. If this was to go ahead then there would be great improvements within those areas, again giving a good chance of gains on investment property.

The tourism industry in Bulgaria is now well establ

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

ished and it has in fact become one of the fastest growing tourist destinations in Europe. The number of tourists visiting Bulgaria is expected to reach between 4-5million in 2006. As tourism continues to grow, rental opportunitie

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

s for the right property are high, which in turn makes this a good opportunity for property investment.

The currency (leva) in Bulgaria is stable, and is linked to the Euro, and this together with the fact that Bulgaria is political

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

ly and economically stable, that NATO membership was achieved in 2004 and it is in a good strategic geographic location are all pointers that would indicate a good return on property investment here is a real possibility.

At the mom

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

Professional from academic institutions, pharmaceutical industries, health care indust

ent one slight drawback is that no ‘foreigner’ can own land within Bulgaria – this would not cause a problem with an apartment, but if you wanted to buy a village house or have a new villa built you would have to buy in the name of a

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

Bulgarian company which you would need to set up. Although setting up a Bulgarian company is a fairly simple process (for those who know what they are doing) I would always advise using a solicitor for this. It is likely that onc

.

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

e Bulgaria is in the EEC then the rules for ‘foreigners’ buying property will fall in line with the rest of Europe.

If you decide to look at buying a property in Bulgaria either for an investment, or for a holiday home, then do lots

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

Companies that provide selfless information through particip

of research to see which area you would prefer to buy in, ask lots of questions of your agent and most of all if you are intending to buy as investment and for personal use, make sure you go and visit the areas you have shortlisted.

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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