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.
28.11.2014 The first gene therapy for a rare genetic condition — UniQure's Glybera — is on its way to the European market. But there is a hefty price tag: Chiesi, responsible for the marketing of the orphan drug, is asking for a record price of €1.1m per patient.
25.11.2014 The European biotech IPO slump has finally come to an end. A brand new industry report shows that compared to previous years, the number of biotech IPOs more than doubled in 2014, with London and Paris exchanges leading the pack.
19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.
18.11.2014 Merck KGaA and US rival Pfizer have signed a immuno-oncology alliance worth billions: Merck will share the development and commercialisation of its cancer antibody with its US partner – for €2.3bn.
14.11.2014 Cosily coinciding with World Diabetes Day on 14th November, French biopharma Les Laboratories Servier has struck a US$1bn deal with US pharma Intarcia Therapeutics for the exclusive rights to Intarcia’s unprecedented therapy for type 2 diabetes.
12.11.2014 Glitz and glamour are not words often used to describe science and mathematics. But once a year, celebrities from the science and showbiz world come together at the Breakthough Prizes, a glitzy television bash that honours scientists for their achievements. French life scientist Emmanuelle Charpentier was among this year’s winners.
04.11.2014 Galecto Biotech has entered an agreement with Bristol-Myers Squibb for the acquisition of the company and its lead drug, providing the Swedish company with the potential of reaching over US$400m.