Cyprus/Greece/MaltaCyprusGreeceMalta

Getting paid

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 are customers “who haven’t paid their bills in three or four years,” according to the company’s CEO Severin Schwan, who added “there comes a point where the business is not sustainable anymore.” Roche­ is not the only pharmaceutical company in dire financial straits on the Aegean. According to the Hellenic Association of Pharmaceutical Companies, members made sales totalling €1.93bn to Greek public hospitals in the 18 months from the beginning of 2010 to the end of June 2011, but only 37% (€718m) of the bills were paid.
Richard Bergström, the director of the European Federation of Pharmaceutical Industries, said that pharma companies’ “patience is running out.” Some bills were paid in bonds, according to Roche, and reselling them immediately resulted in losses of up to 25% (around a100m). The problems don’t look set to be resolved anytime soon. Other governments “have been able to take rational steps,” Bergström said, but in his opinion Greece has not. If the situation deteriorates further, it could result in an all-out boycott of the country in the delivery of bio­pharmaceuticals and other cost-intensive 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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