UK AND EUROPEAN BIOTECHS. Message Board

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Biotech / Medical : UK AND EUROPEAN BIOTECHS.

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To: James Silverman who wrote (25)	1/14/1997 11:02:00 AM
From: Rick Strange	of 64

James, The basics are that if your "home" currency is strengthing in relationship to another countries "home" currency, you are going to come up against price pressure since your cost basis is fixed to the "home" currency. The trend has been for the British pound sterling to show an uptrend against the dollar. This makes our products "cheap" in the U.K and their products expensive there. Another example would be Galaxo which has manufacturing facilities in the U.S. for our market. One of their products could have an up year but when it is translated back into sterling it might look like an off year since the relationship of the dollar and sterling has change over this period. Differences in interest rates tend to drive currencey ratios, whith money flowing into areas of high rates. Rick

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