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Not long ago, Bulgaria was a mere afterthought for overseas house hunters. Now the former Communist state boasts a flourishing real estate market, with properties running

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

the gamut from chic inner city living to charming country hideaways and cosmopolitan ski chalets.

Bulgaria has seen its tourist trade rocket in recent years with the adve

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

Examples of combination products may in

t of low cost travel and a booming economy. Visitor numbers look set to rise throughout 2007 as interest in the country grows and more European retailers expand their busi

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

ness concerns in the Balkan region.

The number of Britons living in Bulgaria has doubled in the past 12 months, with 1000 granted residency in last year. Most expats live

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

on the coast or in the countryside but some buyers are venturing into the capital, Sofia.

Most foreigners choose familiar resorts such as the Black Sea and Varna although

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

Combination pro

the beautiful Bulgarian countryside is also a popular option. The low cost of land in rural areas attracts adventurous buyers with most opting to muck in and build their

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

wn home from scratch. This is a popular option with those making a permanent move to Bulgaria.

Houses and properties in the popular mountain and coastal regions of Bulgar

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

ia range from ?10,000 - ?25,000+ for 3, 4, or 5 bedroom residences with land.

In tourist areas surrounding the Black Sea and in the popular ski resorts of Bansko, Borovet

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

and Pamparovo, prices rise to around ?25,000 for 1 and 2 bedroom apartments. There is a further increase to ?75,000+ for detached properties, depending on exact location.

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

For the best bargain in Bulgaria, look to the new Rainbow II development. Properties in the complex enjoy the amenities and location of Sunny beach - the biggest Bulgari

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

n summer Black Sea resort- beach views and proximity to the extensive Cacao beach resort. Property prices start from ?28,666.

A complete change of pace can be found at th

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

Following aspects would a

e luxurious Kranevo Paradise Gardens, Varna. The most luxurious development in the area, property in Kranevo Paradise Gardens represents one of the best investment opportu

dd to the challenges in developing combination products:

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

ities currently available in Bulgaria. Scheduled for completion in summer 2007, the project consists of six 3-floor blocks of 2-bed apartments with penthouses and 21 2-bed

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

townhouses with luxury 2-bed penthouses on the top floor. It is worth noting that all units have at least one en suite bedroom.

The buying process in Bulgaria is fairly

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

traightforward. However, while foreigners can purchase buildings or property they are not currently allowed to buy land. This is expected to change due to European Union

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

membership, but in the meantime it can easily be worked around by setting up a Bulgarian registered company.

When the buyer has selected a property, either a preliminary

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

Professional from academic institutions, pharmaceutical industries, health care indust

urchase or a reservation contract is drawn up and signed. The preliminary purchase contract is legally binding, whereas a reservation contract is not, so where possible o

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

pt for the latter.

Your lawyer will then make all the necessary checks, after which the preliminary contract is signed, committing both buyer and seller. This contract o

.

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

tlines all details of the sale and a 10% deposit is paid at this point. The balance is paid on final exchange, when a final purchase contract is signed in front of a notar

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

Companies that provide selfless information through particip

y. New ownership can then be registered. If buying off plan, payments are broken into stages, normally three payments of 30% and a final 10% on completion, but this varies

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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Columnist Nan Russell shares career insights learned over 20 years in the corporate world, including as a Vice President at QVC

If the statement 'Money makes money' still holds good, then you have to plant a money tree today to enjoy its fruits in the future. A business loan can provide you the platform to build a solid foundation.

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