News

Europe’s pharma  fights crisis
Enlarge image

PolicyEU

Europe’s pharma fights crisis

26.06.2012 - A lobby association sees the European pharma industry in danger and asks EU leaders to react before supply shortens and innovations decline.

Brussels – Will the economic crisis of Southern Europe bleed through to European drug makers? The EU pharma industry association EFPIA thinks so and therefore demands two major concessions. Thus far manufacturers of pharmaceuticals have had to compensate for payment arrears and negotiated steep price cuts. In a letter to EU leaders, they now express their belief that only wide-ranging concessions will guarantee the continued supply of countries like Spain, Portugal and Greece.

Sir Andrew Witty, CEO of GlaxoSmithKline plc and currently head of Europe’s pharmaceutical association EFPIA, sees danger springing up from drug reference pricing and parallel trade. In an open letter to the European Heads of States and Governments Witty demands the exclusion of countries undergoing fiscal restructuring programmes from those which the drug referencing price system is based on. Moreover, he wants temporary bans on the re-export of medicines from low-cost to high-cost countries. The ban is said to be also responsible for supply shortages as seen recently in Romania and Greece.

The crisis-stricken countries now benefitted for more than two years from discounts worth €7bn. However, for instance, Greece has still not paid for 99% of the medicines received in the first quarter of the year. Continued losses will ultimately threaten the pharma industry as a whole – responsible for 660.000 jobs and an EU trade balance surplus of €48bn, writes Witty. Time to act for Commission President Jose Manuel Barroso and Council President Herman Van Rompuy. Witty’s letter comes just in time for the June 28-29 summit in Brussels.

http://www.european-biotechnology-news.com/news/news/2012-02/europes-pharma-fights-crisis.html

DiabetesFrance

01.09.2015 Sanofi is partnering up with Google’s life sciences team with an ambitious goal: to change the face of diabetes management.

M&ASwitzerlandFrance

31.08.2015 In order to boost its active cosmetic ingredients business, the Swiss flavour and fragrance giant Givaudan has acquired Volketswil-based Induchem Holding and all its subsidiaries.

BioeconomyEU

26.08.2015 In its second call for proposals, the Bio-Based Industries Joint Undertaking has earmarked €106m for the research and development of useful bio-based products.

OncologyNorway

25.08.2015 Oslo Cancer Cluster is inaugurating its NOK1bn (€107m) Innovation Park. None other than Norwegian prime minister Erna Solberg officially opened the doors to the research park on August 24th.

LicensingUKSwitzerland

21.08.2015 Novartis Pharma AG has secured all remaining rights to antibody hopeful ofatumumab. Seller GlaxoSmithKline is set to receive up to US$1bn (€919m) for the treatment for MS and other autoimmune indications.

LicensingDenmark

18.08.2015 Danish Novo Nordisk is climbing on the antibody therapeutics bandwagon in a US$500m licensing agreement with antibody-specialist Genmab.

M&ASwitzerland

13.08.2015 Roche is stepping up its commitment in the fight against drug resistant “superbugs” with its takeover of US diagnostics play Geneweave, for up to US$425m.

M&AUK

11.08.2015 Biotech bug controllers Oxitec has been bought by US biotech Intrexon Corporation for $160m (€145m). The Oxford University spin-out specialises in environmentally friendly technology to control pests such as mosquitoes, which cause dengue fever and other diseases.

Research and DevelopmentFranceGermany

07.08.2015 In a deal worth more than €300m, Sanofi has partnered up with German drug discovery and development company Evotec in order to develop beta cell-modulating diabetes therapies.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • 4SC (D)3.54 EUR10.62%
  • DEINOVE (F)7.10 EUR7.25%
  • NANOBIOTIX (F)18.43 EUR5.62%

FLOP

  • BIOTIE THERAPEUTICS (FI)0.20 EUR-9.09%
  • OREXO (S)45.30 SEK-8.67%
  • TIGENIX (B)1.12 EUR-7.44%

TOP

  • KARO BIO (S)40.60 SEK2486.0%
  • BIOTECH PHARMACON (N)17.40 NOK87.1%
  • TRANSGENE (F)4.86 EUR75.5%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-50.0%
  • NEUROVIVE PHARMACEUTICAL AB (S)12.85 SEK-42.9%
  • BIONOR PHARMA (N)1.17 NOK-42.6%

TOP

  • KARO BIO (S)40.60 SEK4513.6%
  • ADOCIA (F)85.64 EUR388.3%
  • VERONA PHARMA (UK)4.95 GBP312.5%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-87.5%
  • NEUROVIVE PHARMACEUTICAL AB (S)12.85 SEK-79.3%
  • BIOTEST (D)20.00 EUR-76.9%

No liability assumed, Date: 03.09.2015