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A Joint Tenancy is where you and another person co-own or cohabitate the same property. Joint Tenancy also refers to where a married couple owns a home or property together.

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

You might also want to know that a Joint Tenancy can have more than two people who own the property. The only stipulation to this is that no matter how many people own the

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

Examples of combination products may in

property, they all own equal parts. To keep this legal and fair, all owners must share all responsibilities and time in the property. Also, if one of the owners of the Joi

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

nt Property pass away, the other owners spilt the property evenly. This cannot change even if a will states otherwise.

One major flaw in this concept is that one of the owne

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, even a spouse, can sell their part of the property without anyone’s knowledge. This means he/she can sell his/her part to who ever he/she chooses and you won't find out a

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

Combination pro

bout it until after the deed is done. Another draw back to Joint Tenancy is that if one spouse has poor credit and debtors are trying to collect, using the property, it can

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

leak over onto the other person's share. However, you can get a Homestead Exemption to protect this from happening, but must be filed before hand.

To those who think of us

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

ing Joint Tenancy to avoid Probate Courts, don’t think you can end up owning the property at all if the person you now co-own it with decides to sell. He/she will have to gi

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

e you your half of the sale proceeds. However, you will still be without that property. If there is a bank account involved and it is two children who share the property and

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

the bank account, one can withdraw the money from the account, leaving the bank with out any liability, and the other child without the funds.

A joint tenancy can overrule

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

a will, and you need to be careful when drawing yours up. The property will revert to who ever is still alive or both if it is passed down to the children.

Do not use Joint

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

Following aspects would a

Tenancy to avoid the probate courts you can and have alternative means. One way is to set up a Totten Trust with your bank. Doing this, you give the owner of the account t

dd to the challenges in developing combination products:

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

e trustee status and in turn they have all control until the pass on. Once the current owner passes on it then goes to the beneficiary.

You can use this type of trust for y

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

our home as well. However, you need to make sure you have your attorney draw up this and go through all the steps to make it legal.

After discussing all of this, I think we

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

need to discuss the rights and responsibilities of the Joint Tenancy once more. Each co-owner or tenant has the right to all of the property. If you are excluded from the o

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

ther part of the property, you can file an Ouster with the courts requesting that all the property reverts to you. Each tenant has the rights to all accounting and profits

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

Professional from academic institutions, pharmaceutical industries, health care indust

ade from the property. Each tenant is responsible for the cost of the property including general maintenance, taxes and mortgages. However, all co-owners are not responsib

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

le for any upgrades or improvements of the property.

You might want to know, though, that if you make the upgrades and it increases the profits made, the co-owner or Joint T

.

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

enant is entitled to the profits. Now if the other person improves the property but the profits from the property fall, you are still allowed your original share. Also, if

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

Companies that provide selfless information through particip

one of the Joint Tenants gets a mortgage on the property, it is only for their share and if the loan falls through, the first person has the right to purchase the loan amount

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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