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Greek cuts could drive business melt-down and drugs shortages, industry claims

This article was originally published in Scrip

Executive Summary

The Greek pharmaceutical market faces "dramatic consequences" of upheavals designed to cut the drugs bill and avoid a sovereign debt default. The consequences, says the SFEE (the Hellenic Association of Pharmaceutical Companies), could include companies going out of business, large job losses, distribution chains being disrupted and serious shortages of medicines. SFEE has issued double warning about a recent new law and the outlook for the government bonds pharma firms were forced to accept in lieu of cash payments for debts owed to them by public hospitals (scripintelligence.com, 13 March 2012).

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