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

24.09.2007

Athens – Greek chemical and human and veterinary pharmaceutical company Alapis S.A., which was formed in May by a merger of the Greek firms Veterin, Ebik and Elpharma, is expanding rapidly through acquisitions in south-eastern...

Cyprus/Greece/MaltaCyprusGreeceMalta

11.07.2007

Athens – At the end of May, Greece has launched its official site for the Greek National Contact Point (NCP) for the FP7’s thematic areas “Health“ and “Food, Agriculture and Fisheries, and Biotechnology“ (www.ncp-bionova.gr/)....

Cyprus/Greece/MaltaCyprusGreeceMalta

16.05.2007

Athens – Greek Deputy Agriculture Minister Alexandros Kontos has renewed a decree banning the sale of genetically engineered Mon810 Bt maize varieties for another 18 months after an ultimatum of the European Commission ran out in...

Cyprus/Greece/MaltaCyprusGreeceMalta

16.03.2007

Ioannina – Tumor markers are specific to a certain type of cancer and its developmental stage. They are used to estimate a prognosis for the development and treatment of the cancer. Researchers led by John Ioannidis from the...

Politics / Law, Cyprus/Greece/MaltaCyprusGreeceMalta

21.11.2006

Athens – The Greek government and the European Investment Fund (EIF) signed a Memorandum of Understanding in October, which is to implement ‘Jeremie’. The initiative allows the EU Member States and regions to use part of their...

Cyprus/Greece/MaltaCyprusGreeceMalta

12.05.2006

Athens/Napa - Senetek PLC, a US-biopharmaceutical company focused on developing and co-marketing products in the key categories skincare and dermatological worldwide, announced in March that they have signed a cooperative...

Cyprus/Greece/MaltaCyprusGreeceMalta

17.03.2006

Athens/Paris - US-based drug development company Immuno-Designed Molecules (IDM) Inc. signed in February an exclusive licensing and marketing agreement for its cancer drug Junovan (Muramyl Tripeptide Phosphatidylethanolamine) in...

Cyprus/Greece/MaltaCyprusGreeceMalta

17.03.2006

Athens/Brussels - The European Commission has decided that the Greek national ban of MON810 maize is not properly justified and has therefore ordered to lift the ban. Up to now, Greece had referred to the safeguard clause for...

Cyprus/Greece/MaltaCyprusGreeceMalta

29.01.2006

Athens/Nikosia - Drug developer Samaritan Europe has entered into an exclusive distribution agreement with Three Rivers Pharmaceuticals for the marketing and sales of Amphocil® (amphotericin B cholesteryl sulfate complex for...

Cyprus/Greece/MaltaCyprusGreeceMalta

29.01.2006

Crete - Using an implanted device to make the heart beat faster in pacemaker patients with obstructive sleep apnea-hypopnea syndrome does not help, according to a study of Greek researchers. The physicians around Professor Panos...

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