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Debt Levels Could Drive Pharma Companies Out
Posted 23 February 2012 | By
Increasing debt at hospitals in Greece are threatening drug supplies and may force some companies out of business, according to a Greek pharmaceutical association.
PMLive Intelligence reports the Hellenic Association of Pharmaceutical Companies is warning that hospitals run by the national social security organization in Greece have already run up debts of €500 million. This news comes at a time when the country is seeking a bailout package from the EU to prevent defaults.
Proposed measures include a debt swap with pharmaceutical companies in an effort to settle overdue claims.
There are fears that new debt on top of past debt will drive pharmaceutical companies away from Greece and threaten the drug supply to hospitals.
PMLive Intelligence Online: Greek hospital debt could drive pharma firms 'out of business'