Digg It - Finance

A no deposit home loan is now available in Australia to assist new home buyers priced out of the market through the difficulty of saving an adequate de

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

posit. The old standard was that you had to save at least 5per cent of the purchase price, plus have more to pay for the other costs like legal fees, B

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

Examples of combination products may in

ank, and Government charges.

Not any more. Banks and lenders have come to the aid of these struggling borrowers with a raft of new products including

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

a no deposit home loan.

The no deposit home loan needs to be explained in a little more detail however, before you get too excited. The fact remains 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

at you will probably still have to have some savings, but with the assistance of the First Home Owners Grant, it all becomes much easier.

Let’s take s

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

Combination pro

ome examples. Say you are looking to buy a home valued at $400,000 or $300000. Now, for borrowers wanting to borrow the maximum 100%, the costs would b

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

e as follows. Please bear in mind that Stamp Duties vary from State to State and the following applies to Queensland first home buyers only. All figure

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

are approximate and have been rounded, and not to be interpreted as a binding quote or advice:

Purchase Price $400000
Purchase Stamp Duty

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

$ 2800
Legals (approx) $ 1500
Mortgage Stamp Duty $ 1271
Lenders Mortgage Insurance

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

$ 10545
Govt Transfers $ 634
Registration fees $ 112

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

> TOTAL $416862

OR

Purchase Price $300000
Purchase Stamp Duty $ NIL
Legals (approx)

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

Following aspects would a

$ 1500
Mortgage Stamp Duty $ 860
Lenders Mortgage Insurance $ 6126
Govt

dd to the challenges in developing combination products:

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

Transfers $ 396
Registration fees $ 112
TOTAL

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

$308994

So, the ‘real’ price you pay for your new $400000 home is actually closer to $416900. So where will your money come from?

The no deposi

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

home loan means the bank will advance you $400,000. The First Home Owners Grant will give you $7000 which means you will have to find about $10,000 of

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

your own money. Some people choose to borrow this from parents, family or as a personal bank loan.

In the case of a $300000 purchase, the figures are

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

Professional from academic institutions, pharmaceutical industries, health care indust

different. In this scenario, the ‘real’ cost is $309000. With a no deposit home loan of $300000 and the First Home Owners Grant of $7000, you will onl

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

have to save $2000.

After you have taken care of the cash side all that’s left is to satisfy the bank that you can repay the loan and away you go!

R

.

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

emember that each bank has their own special criteria for assessing loans and you can expect to find wide variance in how much they will lend you. You

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

Companies that provide selfless information through particip

need access to special software to get the comparisons right, and to make sure you get the loan options you require to suit your personal circumstances

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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