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There are at least a dozen major exchanges that serve as a marketplace for commodities worldwide. Each of these specialize in cert

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

ain commodities, while others trade in whole different set. The following is a brief history of these exchanges:

1) Chicago Board

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

Examples of combination products may in

of Trade (CBOT): This commodity exchange was established in 1848. It trades in financial and agricultural contracts. Originally 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.

his exchange only traded agricultural commodities such as corn, soybeans and wheat. Now, it offers futures and options contracts o

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

n a variety of products including silver, gold, energy and U.S. Treasury bonds. In recent years, the CBOT has added electronic tra

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

Combination pro

ding features, which is remarkably different from the earlier open auction market. On 10/18/2005, the Chicago Board of Trade offer

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

ed an initial public offering on the NYSE. Its listed under the ticker symbol "BOT".

2) Chicago Mercantile Exchange (CM

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

E): Another one of the major exchanges is in Chicago as well. This one, popularly known as CME, has been in business for over a hu

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

ndred years. The main commodities traded here are live and feeder cattle, hogs, pork bellies, lumber, milk, butter and fertilizer.

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

Now, it serves as a marketplace for stock index, interest rate, foreign exchange and single-stock futures. One of the fairly uniq

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

ue instruments being traded is the weather derivative. These future contracts speculate on weather, anywhere in the world, at diff

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

Following aspects would a

erent times of the year.

3) New York Mercantile Exchange (NYMEX): Moving out of Chicago to another financial center New York, we

dd to the challenges in developing combination products:

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

have the NYMEX. This is one of the oldest exchanges in the United States. It specializes in petroleum and metal products. Between

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

these two specialties there are a wide variety of options available.

4) New York Board of Trade (NYBOT): Sticking to New York Cit

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

y, we have the NYBOT. This was established as the first commodity exchange in the country. It trades cocoa, coffee, sugar, frozen

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

orange juice, cotton as well as many other agricultural items. This particular exchange also trades currency pairs as well.

5) Ot

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

Professional from academic institutions, pharmaceutical industries, health care indust

hers: Outside US there are a few major exchanges for commodities such as LCE and TOCOM in London and Japan respectively.

As you c

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

an see, commodity exchanges are very readily available all over the world. There are not only commodity exchanges that specialize

.

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

in certain kinds of trades; there are ones that will trade in a wide variety of products as well. These exchanges can trade in eve

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

Companies that provide selfless information through particip

rything from the mundane, to the wacky. Hopefully this summary has piqued your interest regarding the world of commodities trading

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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