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

26.11.2005

Nicosia - A rare medical condition has been found to be nine times more prevalent in Cypriots living in Paphos than in the rest of Cyprus or the European Union. Results of research carried out by the Neurology and Genetic...

Cyprus/Greece/MaltaCyprusGreeceMalta

26.11.2005

Brussels - The European Union's Agricultural Council has failed to reach a qualified majority for rejecting or upholding the Greek ban on genetically modified (GM) maize Mon 810. EuropaBio, the organization representing Europe's...

Cyprus/Greece/MaltaCyprusGreeceMalta

28.09.2005

Nicosia - US-based Genaissance Pharmaceuticals Inc. announced in September that it will provide its high-throughput genotyping services to Cyprus' Biotronics Ltd. Biotronics has been awarded a contract by the Veterinary Services...

Cyprus/Greece/MaltaCyprusGreeceMalta

12.08.2005

Athens - The Greek government announced in August a collaborative agreement between its contractor Antisel A. Selidis and US-based Genaissance Pharmaceuticals in the field of scrapie genotyping.Under the terms of the agreement,...

Cyprus/Greece/MaltaCyprusGreeceMalta

12.08.2005

La Valetta - After a broad discussion process Malta's Social Affairs Committee has presented a draft regulation on biotechnology and assisted reproduction to the parliament in July.According to the proposals the fertilised ovum...

Cyprus/Greece/MaltaCyprusGreeceMalta

10.07.2005

La Valletta - Synergene Biotechnology Group, a Malta-based biotech company, in line with its expansion programme has recently appointed several new members to the board of directors of Synergene Technologies Limited. The new...

Cyprus/Greece/MaltaCyprusGreeceMalta

10.07.2005

Valletta - In mid-June the Social Affairs Committee of the House of Representatives has ended its consultation process regarding the use of biotechnology in Malta. The Committee is currently discussing a report compiled by the...

Cyprus/Greece/MaltaCyprusGreeceMalta

10.05.2005

Athens - Greece supports the development of biotechnology but is wary of its side effects, Greek Development Minister Dimitris Sioufas said during the first national Greek biotechnology and food technology conference held on...

Cyprus/Greece/MaltaCyprusGreeceMalta

10.05.2005

Athens/Lugano - Helsinn Healthcare S.A., a Swiss pharmaceutical group, and Galenica, a Greek pharmaceutical company, announced recently the signing of an agreement granting Galenica the exclusive licence and distribution rights...

Cyprus/Greece/MaltaCyprusGreeceMalta

10.05.2005

Nicosia - Delivering the promise of nanotechnology to society for much-awaited products and jobs, hinges critically on transferring manufacturing technology to industrial production. For this purpose, the University of Cyprus...

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