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More rebates in Italy threaten profitability of pure biotech firms like Amgen and Celgene

This article was originally published in Scrip

Executive Summary

Pure biotech companies operating in Italy will have trouble staying profitable if next year they have to stump up some €800 million in the form of rebates, Riccardo Palmisano, senior vice- president of Italy's biotech association, Assobiotec, told Scrip. The biotech companies operating in Italy, which include Amgen, Genzyme and Celgene, are particularly exposed to potential clawback because their products are almost exclusively sold to hospitals, the drugs budget for which is being strictly capped.



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