Main Subject - Business

Asian nations like China, Singapore, and South Korea should be given a bigger right of speech and participation in the upcoming International Monetary Fund or IMF conference. Goh Chok Tong,

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

Singapore Senior Minister said that his country as well as other nations in Asia must have a larger participation in the decisions of IMF since the Asian region is earning worth as far as t

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

Examples of combination products may in

e global trade and international economy are concerned. In an interview last August 31st, Goh said that Asia is a fast-growing region and is becoming very essential in providing contributio

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

s to the development of the global trade as surely as to the international economy.

The IMF is an international organization, which is composed of 184 members including the United States, w

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 established in 1946 right after the windup of the Second World War. It was created due to the 1944 Bretton Woods Conference. The basic tasks of the fund are to lend member countries with

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

Combination pro

funds and to provide financing solutions to momentary balance of payment problems. The organization is also responsible in assisting the expansion and balanced growth of global trade and th

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

international economy, and in ensuring international monetary cooperation among member nations. The said organization played an active role in the economic and financial rules and policies

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

of some highly obligated member countries and in the maintenance of the global monetary stability.

Rodrigo De Rato, the IMF Managing Director, confirmed last Sept 1st that the said Asian na

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

ions and other countries including Turkey and Mexico will surely be given more voting prowess and larger part in the coming IMF yearly conference, which will be held in two weeks time. De Ra

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

o said that the Asian nations are continually growing in terms of economy and global trade, and they need to be given greater suffrage in the organization to equal their size.

As of current

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

records, the United States holds the biggest fraction of votes in the said organization having over 17 percentage share. Meanwhile, Japan ranks next to US having 6.13 % share. Furthermore,

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

Following aspects would a

the countries that belong in the Sahara and African region possess an overall share of the votes that is 4.6 percent. In the meantime, Singapore only holds .4 percentage in the votes. Incr

dd to the challenges in developing combination products:

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

ases and adjustments in the sharing of votes for fast-developing nations will possibly be the main agenda in the forthcoming IMF conference that will be held in Singapore. The right to vote

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

or suffrage in IMF is considered a heritage of the worldwide organization in its establishment last 1945. Based on the worldwide organization's website, the privilege of member nations to v

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

te at IMF were increased to become a faithful representation of the nations' hierarchy in the global trade and the international economy.

Some global trade analysts and economists say that

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

he capability of nations in Asia to have a larger part in the upcoming IMF conference may not exactly be as essential as it was before wherein the prime flow of capitals come from private bo

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

Professional from academic institutions, pharmaceutical industries, health care indust

ies and not from multilateral and open market institutions like the IMF. Moreover, contrary to the announcement of De Rato, there are still countries who are against the modifying of the suf

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

rage at the forthcoming meeting. Axel Weber, President of Bundesbank, said that members of the European Union must not succumb their rights to vote to underprivileged countries. As the lead

.

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

r of Germany's Central Bank, Weber said that IMF must create a voting system that is clear and fair to all its members. On the other hand, Goh said that Singapore and neighboring countries i

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

Companies that provide selfless information through particip

Asia may be deemed as weak countries, but they are continually developing. He added that the voting privileges will give growing Asian nations a bigger worth in the global trade and economy

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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