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Bulgaria Health System Could Perform Much Better, World Bank Says Bulgaria’s health care system has the potential to considerably boost its performance while cutting out-of-pocket spending, the World Bank has said. A More »
Portugese Tuberculosis vaccine shortage The General Directorate of Health has confirmed that the tuberculosis vaccine will only be available in Portugal from June. The entity stated that the delay in providing More »
Around 5 million people in Turkey are unable to receive public health services Around 5 million people in Turkey are unable to receive public health services due to unpaid social security premium More »
Several drugs might be pulled off the Romanian market over the next months Several drugs might be pulled off the Romanian market over the next months, while several pharmaceutical companies might go More »
Teva will continue to manufacture at its Zagreb, Croatia facility Teva Pharmaceutical Industries has signed an agreement to sell its Sellersville, Pennsylvania facility to G&W Laboratories, Inc. This sale supports its plans More »
Hungarian Richter agreed to provide US Evestra with a 5 million dollar Hungarian pharmaceutical company Richter said it agreed to provide US peer Evestra with a 5 million dollar convertible loan to “accelerate the development of More »
The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of Jadran Galenski Laboratorij d.d. (JGL) with a €20 million multi-currency loan. The Croatian pharmaceutical company aims to become a More »
The General Directorate of Health has confirmed that the tuberculosis vaccine will only be available in Portugal from June.
The entity stated that the delay in providing the vaccine was due to production problems occurring at the laboratory in Denmark where the vaccine is made, the only place in all of Europe to make the vaccine.
source: http://www.theportugalnews.com/news/tuberculosis-vaccine-only-available-in-june/34438
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Around 5 million people in Turkey are unable to receive public health services due to unpaid social security premium debts owed to the state, experts have warned.
The government introduced a nationwide public health insurance scheme back in 2012.
The state covers each individual’s health expenses until he or she graduates from university, according to the scheme, termed the General Health Insurance (GSS). The GSS requires citizens to pay monthly social security premiums after the age of 25. Back in 2012, the government said graduates would continue to receive free public health services if they can prove that they are unemployed or cannot afford to pay the premiums. Very few people say they are aware of the requirement which enables one to be exempt, which the state calls the “income test.”
Those attending university are supposed to take this test — which is administered by various social aid organizations — before the age of 25, while high school students must take it by the age of 20 and those not attending school are obligated to take the test before the age of 18. If the results yield a per capita income of less than TL 400 a month, the state is obliged to pay that person’s premium, but if they earn more than TL 400, they are obliged to pay a premium based on their income.
However, most unemployed recent graduates are unaware of the existence of this test.
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Several drugs might be pulled off the Romanian market over the next months, while several pharmaceutical companies might go bankrupt, the Association of Generic Drug Producers in Romania has warned. According to the Association CEO Laurentiu Mihai, that is the result of the claw back tax which has been levied since 2010, which provides for the producers of prescribed drugs to pay a quarterly contribution to the state budget, tantamount to the share of reported sales. Laurentiu Mihai: “I expect the effects of the claw back tax to become visible within the next six months, with a devastating impact on the market.
Therefore more drugs will be pulled off the market, more people will be made redundant, as we announced at the end of last year that 200 people working in pharmaceutical factories in Romania had been made redundant”. In turn, the president of the National Health Insurance Authority, Vasile Ciurchea says the claw back tax went up in the last quarter of 2014 due to flu-like diseases which triggered an increase in drug sales.Vasile Ciurchea: “The tax went up due to seasonal drugs, some of them very expensive. Doctors prescribed many drugs for the treatment of flu or pneumonias. However, it is the pharmaceutical companies’ right to challenge the claw back tax ”. In early February the claw back tax exceeded 25% of the revenues of pharmaceutical companies, as compared to 21% in the past, which has prompted Dan Zaharescu, the CEO of the Romanian Association of International Pharmaceutical Producers, to say the following:Dan Zaharescu: “At present, the claw back tax has hit dangerously high levels, in that it has become economically unsustainable. The increase from 21% to 25% does not reflect a proportional growth of the pharmaceutical market or an increase in drug consumption. Basically, the market stagnated, it reported no growth. Therefore, a 20% increase in this tax is simply unjustified. The explanation provided by the head of the National Health Insurance Authority, namely that the increase reflected an upward flow in the seasonal use of drugs, is simply ungrounded. Last year the authorities provided the same explanation for an equally preposterous increase. In the last quarter of 2013, the tax went up from 15% to 20%. The explanation was similar at the time, pointing to the surge in the sales of seasonal drugs. However, the same explanation was reiterated throughout the year, and now we are again faced with a figure which is simply unsustainable from an economic point of view”. The tax increase will not be reflected by the cost of medicine, because prescribed medicine is controlled by the state.
The problem that raises itself”, said Dan Zaharescu,” is that this will prevent products from being released on the market and will give rise to parallel export to other countries in the European Union”. Health Minister Nicolae Banicioiu says, however, that the price of medicine in Romania is even by 20% higher than in other states in the region, which, in his opinion, calls for a revision of the policies on the medicine market and an updating of prices once a year. Health Minister Nicolae Banicioiu: “Prices are higher than they should be, which places added strain on our healthcare budget and even more so on patients. You can imagine what our estimated savings of over 200 million euros would mean for the healthcare system. People must understand that we are taking measures to restrict parallel export and make sure the drugs stay in the country, but we are also taking measures to ensure respect for the law and in particular the primordial right of patients not to pay more than in other countries. The money will stay in the healthcare system and go into innovative treatments which for years we all have been waiting for.”
The Health Ministry has called on holders of licenses to market medicine to update their prices as soon as possible, which would result in price cuts of up to 20% for some products. Also, the 23 new medicines approved by the government in November 2014 to be included on the list of subsidised and free drugs may reach patients starting on April 15th. The delay is caused by the fact that so far, therapeutic protocols have only been established for 17 of the 23 types of medicine, while expert committees are yet to be established to assess the other six. In the end, let us note that the hierarchy of the top 10 pharmaceutical companies in Romania in terms of sales has not changed recently. The biggest sales have been reported by Hoffman La Roche, followed by Sanofi, including the Bucharest producer Zentiva, Novartis, Servier, Pfizer, GlaxoSmithKline, Ranbaxy, the owner of the Terapia factory in Cluj, Merck&Co, AstraZeneca and Krka. RRI
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Teva Pharmaceutical Industries has signed an agreement to sell its Sellersville, Pennsylvania facility to G&W Laboratories, Inc. This sale supports its plans to streamline operations by reducing excess manufacturing capacity and is part of the Company’s previously announced cost reduction programme.
The sale includes all buildings, land, and equipment located at the site. Under the terms of the agreement, G&W will manufacture and supply products to Teva from the site until production of these products is transferred to other sites in Teva’s network. Additionally, G&W will offer employment to all employees located at Sellersville.
The transaction includes the sale to G&W of approximately 25 products from the Teva portfolio, which will be manufactured and sold by G&W in the US under the G&W label. Further, the transaction includes the grant to G&W of exclusive rights to sell up to two additional Teva products in the US under G&W’s label, which Teva will continue to manufacture at its Zagreb, Croatia facility. The transaction is expected to close in March or April 2015, after the appropriate regulatory review and the satisfaction of certain closing conditions.
Hungarian pharmaceutical company Richter said it agreed to provide US peer Evestra with a 5 million dollar convertible loan to “accelerate the development of its innovative women’s health product pipeline into clinical stages”. Under the terms of the agreement, after three years Richter has an option to decide whether the loan is to be reimbursed, including earned interest, or converted into an equity stake in Evestra. Evestra’s products “address unmet medical needs” in women’s healthcare, a key area of Richter’s own business.
Gedeon Richter Plc., headquartered in Budapest, is a major drugmaker company in Central Eastern Europe, with an expanding direct presence in Western Europe. Richter’s consolidated sales were approximately EUR 1.1 billion, while its market capitalization amounted to EUR 2.1 billion in 2014. The product portfolio of Richter covers almost all important therapeutic areas, including gynaecology, central nervous system, and cardiovascular areas. Having the largest R&D unit in Central Eastern Europe, Richter’s original research activity focuses on CNS disorders.
Evestra Inc. is a San Antonio, Texas-based biopharmaceutical company engaged in the development of innovative women’s healthcare products. Evestra’s products are based on two platform technologies, medicinal chemistry and vaginal drug delivery technology, and address unmet medical needs in women’s health arenas.
http://hungarytoday.hu/cikk/richter-provide-5m-loan-us-based-biopharmaceutical-company-evestra-66991
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The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of Jadran Galenski Laboratorij d.d. (JGL) with a €20 million multi-currency loan. The Croatian pharmaceutical company aims to become a world leader in the sterile solutions segment.The EBRD financing will allow the company to double its production capacities. Founded in 1991, Jadran Galenski Laboratorij is the second largest pharmaceutical company in Croatia specialising in the production of sterile nose, eye and ear drop solutions. The company exports 75 per cent of its production.
To meet rising demand, JGL is expanding its production facilities with the construction of a new “Pharma Valley”, which will double its output in sterile solutions and create 100 new jobs. The EBRD’s loan will be complemented by a €32.7 million loan provided by the Croatian Development Bank HBOR.
Vedrana Jelušić Kašić, EBRD Director for Croatia, said: “We are very proud to support a strong private Croatian company to become even stronger. Jadran Galenski Laboratorij serves as an example of the country’s potential in terms of entrepreneurship, innovation and know-how. We hope that many more local companies will emulate this successful example.”
Ivo Usmiani, President of the Jadran Galenski Laboratorij Management Board, said: “We are very pleased that a reputable financial institution such as the EBRD has recognised JGL as a long-term partner. The loan will finance working capital needed for our ongoing investment projects while providing additional support to our strong growth and sustainable development. This will ensure the capacities for research and development, production and storage and will support JGL in taking a further strategic step in selected therapeutic areas in the global pharmaceutical market.”
The EBRD has been active in Croatia as an investor since the country’s independence and has invested more than €3.08 billion in over 170 projects to date. The Bank’s activities include all areas of the economy and are especially strong in the infrastructure, corporate, financial institutions and energy sectors
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