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

2014EU

19.12.2014 We took a look back at 2014: which European Biotechnology News stories topped the charts this year?

R&DEUBelgium

18.12.2014 IMI has launched a €115m call for proposals involving a project in collaboration with the Bill and Melinda Gates Foundation to improve vaccines against whopping cough in children.

PoliticsEUPolandItalySpainUK

16.12.2014 Two consortia combined of 144 European companies, research institutes and universities have been selected for funding by the EIT in the areas of health and raw materials. Both clusters are set to acquire €1.1bn over the next seven years.

M&ALuxembourg

11.12.2014 Luxembourg bio-analytical testing company Eurofins Scientific has signed an agreement to acquire Boston Heart Diagnostics Corp. for an initial €112m.

StudySwitzerlandEU

10.12.2014 When it comes to the biggest investors in Research and Development (R&D) Swiss pharma top dogs Novartis and Roche have defended their positioning among the top ten companies worldwide – according to a recently published EU study.

FinancingUKSpain

09.12.2014 British drug delivery specialist Midatech Pharma plc floated on the London stock market. It is the third biotech IPO on the AIM market this year.

CooperationAustria

05.12.2014 Austrian contract research company VTU has entered into a development and commercialisation agreement with US company RCT. The partners want to combine both companies' Pichia pastoris protein production technologies under VTU's roof.

FinancingDenmark

03.12.2014 Danish biotech pharma Ascendis has successfully completed a €48m Series D financing round. The funding is expected to support its late-stage clinical trials to push its lead drug into Phase III trials.

Events

All Events

Current issue

All issues

Product of the week

Products