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E-Folder - Selling Your Business - It's More Than The Price
Surprisingly enough, if your expectations are reasonable obtaining the amount of money you want for your business is probably the easiest part of a business transaction. It is the less obvious issues which most people fail to examine, and those see
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
m to cause the most problems. Okay, so you know how much money you want, but have you considered issues such as:
- Will you be staying with the business for a time to help with the transition?
- Do you have plans to start another 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
Examples of combination products may in
siness which might compete with the business you are selling?
How will the sale of your business impact your family, your employees, your personal finances?
What will you do after the business is sold?
After you have ha
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ded over the keys to the buyer, how will you feel?
After the sale, if the buyer immediately runs your business into the ground how will you feel?
Have your considered that a potential purchaser will want to see your financial rec
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
rds for the past few years. Are your books clean?
Is your business attractive to a buyer?
How will your taxes be affected by the sale of your business?
I pose these questions not to deter you, but to illustrate some
I pose these questions not to deter you, but to illustrate some
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
of the considerations beyond the purchase price which you must consider if you are to have a successful sale.
WHY DO YOU WANT TO SELL?
Your business was probably built with your blood, sweat and tears. It took you years, perhaps a lifetime, o
WHY DO YOU WANT TO SELL?
Your business was probably built with your blood, sweat and tears. It took you years, perhaps a lifetime, o
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
in the case of a family business, generations. Now you are ready to move on and leave your business. With so much time, money and energy invested, you hope that the fruits of your labor will be fairly returned to you. Look very closely at your re
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
asons for selling, the most common of which are health, boredom, work load, business problems and money. If any of these reasons apply to you, perhaps you should consider alternatives such as franchising; developing a partnership; merging with a si
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ilar company; going public; and absentee ownership or partial retirement. If your main motive in considering sale is a decline in the health of the business, you should probably be considering something other than a sale.
If you want to sell becau
If you want to sell becau
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
e your business because it is failing or just past its peak, you are in a poor bargaining position and will probably not receive your expected purchase price nor will you be in a position to negotiate other important terms.
WHEN SHOULD YOU SELL?
WHEN SHOULD YOU SELL?
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
The most common mistake made by sellers is to take the plunge fueled by emotion. Emotion is unavoidable, after all your business may be like a child to you but you cannot let it control your actions. Building a successful business takes planning
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
– so does a successful sale. Consider the following:
- Is your business at its peak, or is it on the downturn?
- What is the marketplace like?
- How many qualified buyers might there exist?
- How will the economy af
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ect the ability of a buyer to obtain financing?
WHY LOOK BEYOND THE PURCHASE PRICE?
The sale of your business will probably affect your financial and personal situation, your employees, suppliers and family. The implications wi
WHY LOOK BEYOND THE PURCHASE PRICE?
The sale of your business will probably affect your financial and personal situation, your employees, suppliers and family. The implications wi
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
l be widespread and will most definitely take an emotional toll on you and key employees.
Talk to those people close to you about the potential sale. Ask for input from trusted sources such as your family, your accountant and financial advisor. W
Talk to those people close to you about the potential sale. Ask for input from trusted sources such as your family, your accountant and financial advisor. W
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
hen you have made a decision to move forward, find an experienced attorney or consultant who will work with you and your accountant to formulate a good strategy. Do not use a general practice attorney or business broker. Find a professional who ha
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
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
experience in buying and selling businesses. Ask to speak to former clients, see a transaction list or have a lengthy discussion with a potential attorney/consultant about his or her approach to selling your business. Of course, I wouldn't have w
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
itten this article if I didn’t plug my services just a little. I am an experienced transaction attorney who takes a comprehensive approach to the sale of a business, therefore I stress formulating a good, solid strategy. Okay, the sale pitch is f
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
nished. If you want more information about our services feel free to browse our web site at www.StonebridgeStL.com
If after careful soul-searching and analysis if your motives for selling y
If after careful soul-searching and analysis if your motives for selling y
.
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 there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ur company appear to be genuine, then carefully develop a comprehensive strategy. It should include the evaluation, preparation, pricing, marketing and actual sale of the business. Your plan should also consider potential purchasers, the negotiatio
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
process and closing the sale. Follow your plan and arm yourself with competent advisors who can help you avoid common pitfalls and unpleasant surprises. The result will be a smooth transition of ownership and an enjoyable and rewarding “afterlife.
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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