Pharma majors lose hundreds of millions in Greek revenue
This article was originally published in Scrip
Major pharmaceutical companies have lost hundreds of millions of dollars in sales revenue between them due to the sovereign debt crisis in Greece. Roche, which has been the most public of the companies involved, has said that its acceptance of Greek government bonds as payment for a €400 million debt from hospitals, caused it an immediate loss of more than 25% (€100 million), the discount it had to accept in order to resell the bonds. Meanwhile, that loss has been compounded by the loss of sales to market contraction as firms impose increasingly forceful limits on their debtors in the healthcare system.