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FOREX (Foreign Exchange Market)

Foreign Exchange Market is the arena where a nation's currency is exchanged for that of another at a mutually agreed rate. FOREX market has

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

been formed in 70th, when international trade has changed from system of fixed rates to system of floating rates of exchange.

In fact, every national currency is merchandis

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

Examples of combination products may in

, like wheat ore sugar, the same medium of exchange, like gold and silver. Since the world changes every year faster and faster, that economic conditions of every single co

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

untry (labor productivity, inflation, unemployment and so on.) depend on level of development of another countries more and more, and this, in turn, impacts on value of its

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

currency regarding currencies of another countries. This is the main reason of the process of rate fluctuations.

Currency Symbols

EUR Euro
USD US Dollar
GBP Bri

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

Combination pro

ish Pound
JPY Japanese Yen
CHF Swiss Franc
AUD Australian Dollar
CAD Canadian Dollar
NZD New Zealand Dollar
SEK Sweden Kronor
DKK Den

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

mark Kroner
NOK Norway Kroner
SGD Singapore Dollar
ZAR South Africa Rand

Currency Exchange Rate

Currency exchange rate is simply the ratio of one currency

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

alued against another. For example, "EUR/USD exchange rate is 1.2505" means that one euro is traded for 1.2505 dollars.

The exchange rate of any currency is usually given a

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

a bid price (left) and an ask price (right). The bid price represents what has to be obtained in the quote currency (US Dollar in our example) when selling one unit of the

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

base currency (Euro in our example). The ask price represents what has to be paid in the quote currency (US Dollar in our example) to obtain one unit of the base currency

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

Euro in our example). The difference between the bid and the ask price is referred to as the spread.

1.0 lot size for different currency pairs (Table 2)
Currency 1.0 l

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

Following aspects would a

t size Necessary margin for 1 lot 1 pips
EURUSD EUR 100,000 1000 EUR 0.0001
USDCHF USD 100,000 1000 USD 0.0001
GBPUSD GBP 70,000 700 GBP 0.0001
USDJPY

dd to the challenges in developing combination products:

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

USD 100,000 1000 USD 0.01
AUDUSD AUD 200,000 2000 AUD 0.0001
USDCAD USD 100,000 1000 USD 0.0001
EURCHF EUR 100,000 1000 EUR 0.0001
EURJPY EUR 100,000 1

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

00 EUR 0.01
EURGBP EUR 100,000 1000 EUR 0.0001
GBPJPY GBP 70,000 700 GBP 0.01
GBPCHF GBP 70,000 700 GBP 0.0001
EURCAD EUR 100 000 1000 EUR 0.0001

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

EURAUD EUR 100 000 1000 EUR 0.0001
NZDUSD NZD 200,000 2000 NZD 0.0001
USDSEK USD 100,000 1000 USD 0.0001
USDDKK USD 100,000 1000 USD 0.0001
USDNOK USD

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

100,000 1000 USD 0.0001
USDSGD USD 100,000 1000 USD 0.0001
USDZAR USD 100,000 1000 USD 0.0001
CHFJPY CHF 100,000 1000 CHF 0.01

Let's assume that exchange ra

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

Professional from academic institutions, pharmaceutical industries, health care indust

e for EUR/USD is 1.2505/1.2509. You may have made market analysis and decide the EUR/USD rate is moving higher (at least to 1.2600). You buy 0.1 lot (minimum contract size)

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

of EUR/USD at the 1.2509 (ask price). Table 1 will help you to define what the contract size is: i.e. 1.0 lot for EUR/USD is 100 000 EUR, then 0.1 lot (our contract size) is

.

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

10 000 EUR.

This means that you bought 10 000 EUR and sold 10 000*1.2509=12,509 USD. So, in order to make a deal you don't

have to sell total amount of 12.509 USD but 100

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

Companies that provide selfless information through particip

times less just $125.09. The rest sum of the money (in our example $12,383.91) is leveraged to you by a broker (a company you entered the contract with to enter the market)

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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