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.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Stock marketNetherlandsUKBelgium

10.07.2014 Not one but two biopharma companies are seeking entry into the stock market: After Abzena raised €25m in an IPO earlier this week, Argen-x has followed suit and sold shares worth €40m.

M and AUKIreland

08.07.2014 Abbvie is determined to bring home British rare disease specialist Shire in a merger worth £30.1bn (€37.9bn). So far, Shire has rejected all offers from the US company.

M and ASwitzerland

04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BIOINVENT INTERNATIONAL AB (S)3.10 SEK9.15%
  • Allergy Therapeutics (UK)19.12 GBP6.94%
  • PHARMING (NL)0.48 EUR6.67%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • CHRONTECH PHARMA (S)0.07 SEK-12.50%

TOP

  • WILEX (D)3.15 EUR331.5%
  • SANTHERA (CH)68.55 CHF99.3%
  • ADDEX (CH)4.08 CHF85.5%

FLOP

  • MERCK KGAA (D)65.43 EUR-48.6%
  • HYBRIGENICS (F)1.83 EUR-29.1%
  • PROSENSA (NL)9.48 USD-26.2%

TOP

  • SANTHERA (CH)68.55 CHF3489.0%
  • GW PHARMACEUTICALS (UK)427.00 GBP780.4%
  • PAION (D)2.79 EUR304.3%

FLOP

  • CYTOS (CH)0.26 CHF-92.4%
  • EVOCUTIS (UK)0.21 GBP-92.0%
  • PROSENSA (NL)9.48 USD-68.2%

No liability assumed, Date: 24.07.2014