Cyprus/Greece/MaltaCyprusGreeceMalta

Financial crisis is not over yet

10.06.2011

Athens – The situation in the pharmaceutical market in Greece increasingly looks to be spiralling out of control. According to the Financial Times, the Greek government already appears to be unable to pay healthcare companies just months after restructuring its EUR5.4bn debt to suppliers. The pharma­ceutical industry says that only a third of EUR1.2bn in payments owed by Greek public hospitals from 2010 on have been made. Of the debt due from the beginning of 2011, just 1% has been paid so far. “The situation has become dramatic,” the Hellenic Association of Pharmaceutical Companies (SFEE) said in a letter to the country’s Ministry of Health, warning that it was “only a matter of time before drug shortages on the market begin to occur.” Small outfits are especially hard hit. Greek banks have stopped accepting bonds held by small healthcare companies as loan collateral, said Pavlos Arnaoutis of Sep, a Greek association of medical suppliers.“Many are struggling to survive,” he said. But bigger companies are suffering as well. Roche has made staffing cuts in Greece, and has started operating on a cash-on-delivery basis. Greece wants to cut public pharmaceutical expenditure from EUR4.3bn in 2010 to EUR3.4bn in 2011. The SFEE is challenging a proposed list that it fears will sharply reduce the number of reimbursable drugs.

Cyprus/Greece/MaltaCyprusGreeceMalta

10.12.2011

Athens – Greek researchers have called on members of the international research community to sensitise their governments to the problems in their country’s research landscape. “The orderly execution of the badly needed reforms...

Cyprus/Greece/MaltaCyprusGreeceMalta

01.10.2011

Athens – The supply of innovative bio­pharmaceuticals to Greek hospitals has broken down. Swiss Roche AG has pulled the plug by stopping delivery of drugs for cancer and other diseases to some state-funded hospitals. Among them...

Cyprus/Greece/MaltaCyprusGreeceMalta

10.07.2010

Athens – The Novo Nordisk Group has restarted sales of its insulin products in Greece. At the beginning of June, the Danish pharmaceutical company had pulled out 17 products – mostly insulin or insulin analogues – after the Greek...

Cyprus/Greece/MaltaCyprusGreeceMalta

11.03.2010

Athens – A EUR2.5m EU research project targeting olfaction in the malaria carrier Anopheles gambiae is to be coordinated by Greek researchers from the Institute of Bio­logy at the Demokritos National Centre of Scientific Research...

Cyprus/Greece/Malta, PolandCyprusGreeceMalta

29.04.2009

Nicosia – Golgi Pharmaceuticals Ltd is strengthening its collaboration with London-based ReGen Therapeutics. The Cypriot firm will produce and package Colostrinin tablets, and expand distribution to Greece and other Balkan...

Cyprus/Greece/MaltaCyprusGreeceMalta

29.04.2009

Athens –The 5th International Biotechnology Forum (IGBF5), which is to be held May 8-9 in Athens, boasts appearances by three Nobel Prize winners. Andrew Schally, Richard Roberts and Sir Peter Mansfield will speak at the opening...

Cyprus/Greece/MaltaCyprusGreeceMalta

16.04.2009

Golgi Pharmaceuticals of Cyprus is strengthening its collaboration with London-based ReGen Therapeutics. Golgi will produce tablets of and package Colostrinin, and expand distribution to Greece and other Balcan countries....

Cyprus/Greece/MaltaCyprusGreeceMalta

03.11.2008

Athens/Houston – Greece is planning to establish state-of-the-art clinics for stem cell therapy with associated stem cell banks. In mid-August, GloCal Investment Ventures Enterprise (G.I.V.E.) – a venture capital fund backed by...

Cyprus/Greece/MaltaCyprusGreeceMalta

18.08.2008

Athens – Greek diagnostics supplier Neo­medica has entered into a distribution agreement with Swedish Life Assays AB (Lund), a daughter of Chemel AB. Neo­medica, a specialist for point-of care tests, now has exclusive rights to...

Cyprus/Greece/MaltaCyprusGreeceMalta

19.03.2008

Athens – Greek conglomerate Alapis is further expanding its healthcare arm (production of veterinary pharmaceuticals, medical equipment and nutritional supplements), an area that made up 75% of its total EBITDA of €117.3m in...

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