InfoAnda - Exclusive: Drugmakers weigh emergency supply plan for Greece |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

US military deaths in Afghanistan region at 556 | 21 November 2008
Despite sour economy, Miami music conference a hit | 29 March 2009
China arrests man linked to deadly diabetes drug | 7 February 2009

Pakistan moves troops to Taliban bastions: officials | 17 October 2009

Forum Views () Forum Replies ()

Read more with google mobile : Exclusive: Drugmakers weigh emergency supply plan for Greece |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (1) REUTERS VIDEO Lab mice reveal path to dementia cure Scientists in Australia have discovered a molecule in the brain that may hold the key to preventing or even curing dementia. Video Paralysis patient tastes freedom through thought control Stem cell therapy credited with saving girl's life Follow Reuters Facebook Twitter RSS YouTube Read Iran attack decision nears, Israeli elite locks down 17 May 2012 South Carolina woman battles flesh-eating bacterial disease 17 May 2012 Facebook fizzles in debut, shares skirt IPO price 12:03pm EDT Shorting Facebook on first day: Tough even for the gutsiest | 11:39am EDT Insight: Who got Facebook IPO shares? Fairness may not come into it 12:33am EDT Discussed 158 Germany’s Merkel dealt heavy blow in state vote 135 Iran attack decision nears, Israeli elite locks down 115 Weary warriors favor Obama Watched A look at the UK’s most beautiful face Thu, May 10 2012 Surfer rides 78-foot wave to world record Fri, May 11 2012 Violence rages on in Syria Thu, May 17 2012 Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Transgendered beauty Transgendered contestant Jenna Talackova takes part in Miss Universe Canada. Slideshow Strange and unusual Our photographers sometimes capture moments that are strange and offbeat. Here's a recent sampling. Slideshow Exclusive: Drugmakers weigh emergency supply plan for Greece Tweet Share this Email Print Related News Spain beset by bank crisis, downgrades, bond pressure Thu, May 17 2012 Yen advances; Greece, Spain woes slam euro Thu, May 17 2012 IMF chief warns on cost of Greek exit from euro Wed, May 16 2012 Caretaker govt will take Greece to risky repeat vote Tue, May 15 2012 Euro hits 4-month low, world stocks drop on Greece turmoil Tue, May 15 2012 Analysis & Opinion Greek dilemma might come to head before next poll How to cover Greece Related Topics World » Health » Greece » Local residents sit outside of the town's hospital in the town of Thebes, about 88 km (55 miles) northwest of Athens, June 20, 2011. Credit: Reuters/John Kolesidis By Ben Hirschler LONDON | Fri May 18, 2012 10:20am EDT LONDON (Reuters) - International drugmakers are working with European authorities on emergency plans to keep medicines flowing into Greece if the country crashes out of the euro. Discussions have intensified in recent days, according to industry sources, and manufacturers are looking closely at the experience of Argentina's collapse in 2002, when some firms agreed to continue to supply medicines without payment for a period of time. Executives at leading drug companies - particularly those with European headquarters - are under pressure to avert a health catastrophe, which could occur if Greek imports are halted by a massive devaluation of newly issued drachma. "There's a moral obligation to continue to supply," said Simon Friend, global pharmaceutical leader at PricewaterhouseCoopers. "Greece is not a big market, so most drug companies can absorb it … the reputational damage would, I think, more than outweigh the economic cost." Although plans are still in flux, the idea is to have a scheme ready for implementation at short notice that could bridge the gap by supplying critical medicines for a few months, according to one person familiar with the situation. Richard Bergstrom, director general of the European Federation of Pharmaceutical Industries and Associations, confirmed his group was discussing the Greek situation but declined to go into details. "We obviously are on alert and talking to people about it," he said. "We are in very close contact with the European Commission and the Greece task force and we are monitoring developments." The European Union set up the task force last year under Horst Reichenbach to help Athens tackle its debt crisis. Greece imports nearly all its medicines and is particularly reliant on branded drugs, as opposed to cheaper generics, which means it spends a relatively large amount per capita on medicines. Any short-term initiative might be limited to certain categories of essential medicines and would probably not be a panacea, reflecting the need of companies to protect the interests of shareholders as well as patients. Certain parts of the Greek healthcare system have already experienced drug shortages in recent months and drug manufacturers - owed 1.21 billion euros in unpaid bills from Greek state hospitals, according to the Hellenic Association of Pharmaceutical Companies - have adopted a range of strategies to limit exposure to an uncertain market. Some, like Denmark's Novo Nordisk, the world's largest supplier of insulin for diabetics, have long demanded payment on delivery. Others, including Britain's GlaxoSmithKline, say they have not changed the terms of business and are not demanding immediate cash settlement. Swiss-based Roche, the world's largest maker of cancer drugs, has a nuanced approach. It switched last year to a system of payment on delivery for hospitals with a history of bad payments but spokesman Daniel Grotzky said this policy did not apply to critical products like HIV drugs and CellCept, a medicine given to organ transplantation patients. Drugmakers know from experience that turning off the supply tap may simply not be an option. Two years, Novo Nordisk was hit by storm of protest when it halted deliveries of certain insulins for around a month after Greece cut the price by more than a quarter. The cut-off ended when Athens agreed to somewhat smaller price cuts. Greece represents just under 1 percent of the world drugs market but it has a potentially wider impact because the country is embedded in the European Union. As a result, price cuts in Greece can trigger automatic cuts in richer countries through the practice of "reference pricing" to other countries - something industry is keen to avoid if Greece leaves the euro and prices in euro terms fall heavily. Drug price cuts over the past two years have also helped suck medicines out of the country as wholesalers sell supplies to countries - like Germany - where drug prices are higher, although recently introduced quotas limiting exports of some drugs have tried to address this. Such parallel trade is allowed under European free trade rules and can help keep costs down for European healthcare systems, according to the European Association of Euro-Pharmaceutical Companies, representing wholesalers involved in the practice. Drug manufacturers, however, see it as a thorn in their side and any short-term emergency supply plan for Greece is likely to include a demand for assurances that drug deliveries will actually get to Greek patients. Fraud over medicine reimbursement in Greece is another concern. On the ground, meanwhile, many patients are already struggling to get the prescription medicines they need, according to Apostolos Veizis, head of programs for Medecins Sans Frontieres in Greece. One reason is a liquidity crunch among pharmacists, who face delays in payments from public insurers and, as a result, are unable to pay their suppliers. But even when drugs are available, more and more Greeks have trouble paying the 10-25 percent of the prescription cost not covered by the public healthcare system. "We're seeing a massive decrease in patient access because of the economic crisis," Veizis said. (editing by Janet McBride) (ben.hirschler@thomsonreuters.com)(+44 20 7542 5082)(Reuters Messaging:; ben.hirschler.thomsonreuters.com@reuters.net)(www.twitter.com/reutersBenHir) World Health Greece Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) BillDexter wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Friday, 18 May 2012
Islamists Protest Lady Gaga's Concert in Indonesia
Russia says action on Syria, Iran may go nuclear |
Qaeda chief urges Saudis to topple ruling family |
Russian police detain protest leader, five others |
US to suspend Myanmar sanctions, but keep laws on books |
Iran threatens to sue Google over dropping Persian Gulf |
West African troops start arriving in Guinea-Bissau |
Facebook prices at top of range in landmark IPO |
Iran threatens to sue Google over dropping Persian Gulf |
Apple to use only green power for main data center |
HP mulls cutting at least 25,000 jobs: sources |
Insight: Who got Facebook shares? Fairness may not come into it |
Apple to use only green power for main data center |
AT&T eyes lower subsidies, shared data plans |
Facebook's Saverin fires back at tax-dodge critics |
Disco queen Donna Summer dies at 63 |
And the winner is? The sitcom, as networks add new shows |
Peter Berg discusses bringing Battleship to film |
Contestants? It's TV talent judges basking in fame, cash |
Second Travolta accuser drops suit, hires celebrity attorney |
Adele notches up two Ivor Novello songwriting awards |
Cannes festival opens with quirky comedy and a camel |
Japan Successfully Broadcasts an 8K Signal Over the Air
G8 leaders look to head off euro zone crisis |
China bars blind dissident's family choice of lawyers |
Poll shows Greece electing pro-bailout government |
Former editor says Murdoch sowed seeds of hacking scandal |
Retired officials urge China's ruling party to come clean |
Syria's Assad: Nations that sow chaos will suffer |
Slovenian austerity drive threatened by referendum call |
Resource-rich Mongolia plays populist card in run-up to polls |
Investors brace for Facebook debut on Wall Street |
Verizon data fans to pay more in service or phones |
ZTE confirms security hole in U.S. phone |
GM ad move followed failed Facebook pitch: sources |
Samsung gets 9 million preorders for new Galaxy phone: report |
EA must defend NCAA conspiracy lawsuit |
Insight: Who got Facebook IPO shares? Fairness may not come into it |
Toshiba plans to double operating profit by 2014-15 |
Sorkin says Jobs movie won't be straight biography |
Jessica Sanchez, Phillip Phillips make Idol final |
Broadway play's echoes of Bo scandal may prevent China staging |
And the winner is? The sitcom, TV networks hope |
Avengers may sink Battleship's U.S. launch |
Van Halen postpone more than 30 concert dates |
Iran may seek tactical gain with U.N. nuclear deal |
Growing military buildup, spying in China: Pentagon |
Police detain 400 Blockupy activists in Frankfurt |
Exclusive: Drugmakers weigh emergency supply plan for Greece |
Banks' rising bad loans add to Spanish troubles |
Spat with Iraq bares Turk plunge into regional power game |
U.S. firms eye Myanmar as sanctions suspended |
Facebook fizzles in debut, shares skirt IPO price |
Worries mount as Nokia burns through cash |
Verizon data fans to pay more in service or phones |
Ex-Yahoo CEO Thompson leaves F5 Networks' board |
Joke on Europe as Madagascar sequel comes to Cannes |
Reality TV, celebrity obsession hit Cannes screens |
Exploitation, loneliness in sex tourism film at Cannes |
Sorkin says Jobs movie won't be straight biography |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01