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Every so often, real estate transactions can go bad. This often results in one party demanding the other specifically perform p

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

ursuant to the real estate contract.

Specific Performance Demands In Real Estate Transactions

Once a seller and buyer agree 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

a price for a property, a real estate contract is signed. The contract contains provisions each must comply with, provisions t

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

hat are legally binding. If problems arise during escrow, particularly if things turn nasty, one party may look to legal remedi

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

s to force the other party to do something.

Specific performance is a legal demand that a party perform some act. Although the

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

Combination pro

theory can be applied to many situations, it is often seen in real estate transactions. This is because courts have determined

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

that property is unique, and specific performance is often more valuable than monetary damages.

In the case of real estate, sp

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

cific performance demands often involve the conveyance of title. Having met the conditions of the contract, the buyer demands t

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

he seller convey title to them. Why would sellers not do this automatically? Situations can include seller remorse, basic flaki

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

ess or the realization the seller accepted far too low an offer compared to what the market would produce.

Specific performanc

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

demands are a two sided situation. Courts often are reluctant to grant them because human nature is such that the defendant wi

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

Following aspects would a

ll often poison a situation by damaging the property or screwing up title. This does not mean the seller is off the hook.

Whil

dd to the challenges in developing combination products:

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

courts are hesitant to grant specific performance demands, they are not hesitant to enforce real estate contracts. Depending u

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

pon the laws in your state, the court may grant something called a lis pendens. The lis pendens represents the equivalent of th

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

monetary damages suffered by the buyer. More importantly, it is recorded against the deed of the seller’s property. This effec

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

ively forces the seller to pay the buyer if the seller ever hopes to sell the property. When a title insurance company reviews

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

Professional from academic institutions, pharmaceutical industries, health care indust

title for any subsequent sale, it will notify the new purchaser of the lis pendens and refuse to issue title insurance. With no

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

title insurance, the seller is going to have an extremely hard time moving the property. In fact, it will be nearly impossible

.

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

as it is difficult to imagine any buyer that would want to get involved in the dispute.

While there can be sniping in real est

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

Companies that provide selfless information through particip

te transactions, most go fairly smoothly. When they fall apart, specific performance and lis pendens can become dominant issues

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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