Continued payment delays by the countries hardest hit by the crisis could lead major Swiss pharmaceutical companies to take action. It is estimated that the total debt in Europe towards drug companies is 15 billion euros. This was stated by Isabel Guerra, Novartis spokeswoman on the Swissinfo.ch website. «The financial crisis and its impact on economic growth continue to have an impact on many countries, especially in Europe» he explains «and the debt crisis has also increased concerns that some countries will no longer be able to pay for our products . Economic conditions have led, and may continue in the future, to an increase in the average time to receive payments, and may require a reassessment of the ability to pay these claims in the future. According to figures from the European Association of Medicines Manufacturers, the total debt of European countries is around 15 billion euros. Roche alone, explains a spokesman for the company, which in recent months has reduced supplies to Greece, must receive 1.7 billion euros from Spain, Italy, Greece and Portugal. Spain, according to the figures reported, is the country with the heaviest debt to companies: in 2011 it grew by 36%, and average payment times are 525 days which can even reach 800: «The company is developing contingency plans to facilitate payments» explains Guerra «which range from factoring to insurance policies».
28 February 2012 – Pharmacist33
PIIGS countries
Roche, we are not thinking of blocking supplies in Italy
But deep suffering for late payments
"We do not expect the supply of medicines to stop in Italy. But if ensuring medicines for patients and hospitals is our priority, we cannot fail to point out that the situation is objectively very serious". Dario Francolino, Head of Communications & Public Affairs Roche Italy explains it to Pharmakronos,
