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If foreclosure is looming and you are unable to sell your house, you should consider a 'Deed in Lieu of Foreclosure'. Basic

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

ally you are giving the house back to the lender, rather than making them go through with the foreclosure. A foreclosure o

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

Examples of combination products may in

your credit report is extremely damaging and will make it nearly impossible for you to buy another home for at least 3-5 y

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

ars.

If you successfully negotiate a deed in lieu with your lender, it SHOULD keep the foreclosure off your credit report.

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

You must confirm with your lender specifically if that is the case and, if necessary, try to negotiate it as part of the de

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

Combination pro

l. It is considerably less expensive for the lender to simply have you deed them back the house, rather than pay the attorn

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

ys to complete all the papers to actually foreclose and go to the Sheriff’s Sale. Tell them you will move out and leave the

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

house clean and in good shape, but you do NOT want the foreclosure on your credit. Insist that they put this in writing, b

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

t if they will only tell you verbally then be sure to send THEM a letter, certified mail return receipt requested. Simply w

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

ite, 'Dear John, this letter is to confirm our verbal agreement on xx/yy/zz that if I agree to a deed in lieu of foreclosur

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

, you agree the foreclosure will not appear on my credit report.'

However, A Deed in Lieu may not be your first, best opti

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

Following aspects would a

n. If you have significant equity, you should work diligently to find a way to sell it to a private party or an investor an

dd to the challenges in developing combination products:

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

recover the equity! If you agree to a Deed in Lieu or the lender completes the foreclosure process, any equity you have i

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

lost. If you have no equity and are just ready to deed the home, it is always better to deed it to the lender than an inv

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

estor. By deeding it back to the lender, you are terminating the loan agreement and walking away. If you deed it to an in

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

estor, the loan is still in force and in your name; if the investor fails to follow through on their promise to make the pa

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

Professional from academic institutions, pharmaceutical industries, health care indust

ments, the foreclosure could proceed, and you would be powerless to stop it. Again, be sure your investor is established an

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

has adequate financial resources to make the payments on your home.

There are dozens of other ways to prevent foreclosure

.

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

and most people should not have to resort to a deed in lieu, provided that they address the problem as early as possible a

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

Companies that provide selfless information through particip

d communicate well with their lender. But if all else fails, keeping the foreclosure off your credit is better than nothing

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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