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

05.02.2004

Athens/Heraklion - Last year the National Centre for Marine Research (NCMR), Anavissos, and the Institute of Marine Biology of Crete (IMBC), Hera-klion, were merged to create a new organisation for marine research, which is now...

Cyprus/Greece/MaltaCyprusGreeceMalta

05.02.2004

Limassol - At the end of last year the “1st Course in Genetic and Acquired Thrombophilia: Investigation and Management” took place with strong participation from European scientists and managers. The event was sponsored by the...

Cyprus/Greece/MaltaCyprusGreeceMalta

05.02.2004

Attard - Synergene Profiling Ltd., a subsidiary of Malta-based Synergene Technologies, specialized in DNA profiling services, recently completed a financing agreement with the Institute for Promotion of Small Enterprise (IPSE),...

Cyprus/Greece/MaltaCyprusGreeceMalta

23.11.2003

Valetta/Strasbourg - The European Parliament's (EP) vote in favour of allowing member states to take action to prevent “contamination” from genetically modified (GM) crops has been warmly welcomed by Friends of the Earth (FoE) in...

Cyprus/Greece/MaltaCyprusGreeceMalta

16.09.2003

Thessaloniki/Como - Research within textile biotechnology is very broad and involves areas such as enzymology, chemistry, fibre testing, textile technology and effluent treatment process technology. COST Action 847...

Cyprus/Greece/MaltaCyprusGreeceMalta

16.09.2003

Attard/Antwerp - DNA tests are moving in a big way out of the research laboratory and into the realm of diagnostic medicine.Fifty years after Watson and Crick published the structure of DNA in Nature, an extensive diagnostic...

Cyprus/Greece/MaltaCyprusGreeceMalta

16.09.2003

Attard - Synergene Holdings Ltd. has been recently joined by Dr. Marios Kambouris, a world-leading geneticist with particular specialization in mapping genes that cause human inherited diseases. Dr. Kambouris has been employed as...

Displaying results 41 to 47 out of 47

< Previous 41-47

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/nc/news/messages-archive/archive-cyprus-greece-malta/browse/4/article/getting-paid.html

Events

All Events

Stock list

All quotes

TOP

  • SANTHERA98.35 CHF13.70%
  • EPIGENOMICS3.37 EUR6.65%
  • FORMYCON6.85 EUR1.48%

FLOP

  • MOLOGEN7.38 EUR-5.87%
  • EVOTEC3.74 EUR-5.08%
  • CYTOS0.25 CHF-3.85%

TOP

  • SANTHERA98.35 CHF53.7%
  • BB BIOTECH141.00 EUR6.3%
  • ADDEX3.98 CHF4.2%

FLOP

  • WILEX2.25 EUR-24.7%
  • MOLOGEN7.38 EUR-18.8%
  • 4SC1.22 EUR-15.9%

TOP

  • SANTHERA98.35 CHF4121.0%
  • CO.DON2.48 EUR210.0%
  • PAION2.43 EUR179.3%

FLOP

  • CYTOS0.25 CHF-93.6%
  • MEDIGENE4.55 EUR-67.9%
  • THERAMETRICS0.08 CHF-42.9%

No liability assumed, Date: 28.08.2014


Current issue

All issues

Product of the week

Products