Sector News

Categories

Borderless Insights

Image
Negotiating Terms with a New Employer
Image
Beyond Flowers and Platitudes: Reclaiming the Essence of International Women’s Day
Image
Visionary or ‘Stuck-in-the-Mud’? Where are you on Workplace Flexibility?

Drug companies still supplying Greece after ‘No’ vote

July 6, 2015
Life sciences
(Reuters) – Pharmaceutical companies said on Monday they would continue to supply medicines to Greece for now, despite increased financial uncertainty after Greeks rejected the terms of a rescue package from creditors in a referendum.
 
Drugmakers are owed more than 1.1 billion euros ($1.2 billion) by Greek hospitals and the state-run health insurer, after not being paid since December, but have promised to keep supplying the country on humanitarian grounds.
 
The European Federation of Pharmaceutical Industries and Associations (Efpia), representing 40 drug companies, said it stood by a commitment made last week to ensure supplies continued for the coming month.
 
Imports of life-saving medicines – along with fuel – top the list of products at risk as Greece struggles with bank closures and the threat of an exit from the euro zone. Nearly all Greek medicine is imported.
 
Efpia warned last week, however, that shortages could still emerge on the ground, given the fragmented nature of the Greek supply chain, adding this could be exacerbated if drugs were re-exported.
 
A spokeswoman for AstraZeneca said the company was preparing contingency plans but operations for now were continuing as normal.
 
“At present, there is no impact on our supply chain as, while the banks are closed, bank transfers to and within Greece are still possible,” she said.
 
Pfizer said current recorded stock levels in Greece should ensure that patients did not suffer any interruption in supply to its medicines in the short term.
 
Roche also said both its medicines and diagnostics were currently available to patients. “Roche is working to understand the full implications of yesterday’s referendum decision and will both review and take steps to revise its operating plans as needed,” the company said. 
 
By Ben Hirschler (Additional reporting by Paul Arnold in Zurich; Editing by Susan Fenton)

comments closed

Related News

April 26, 2024

Former Bristol Myers CEO tapped as Novartis’ next board chair

Life sciences

Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.

Read more
April 26, 2024

GE HealthCare launches voice-activated, AI-powered ultrasound machines for women’s health

Life sciences

GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.

Read more
April 26, 2024

Scientists reveal new method that could reduce waste from drug manufacturing

Life sciences

Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.

Read more
More news

How can we help you?

We're easy to reach