Skip to comments.No more Merck cancer drug for Greek hospitals
Posted on 11/04/2012 2:55:33 PM PST by DeaconBenjamin
German pharmaceutical company Merck has stopped selling its cancer drug Erbitux to Greek hospitals, as they are not able to pay. Patients needing the drug will have to buy it themselves from pharmacies.
Saturdays Frankfurter Allgemeine Zeitung newspaper said the continuing economic crisis and chaotic situation in Greece had prompted the sales ban.
The Greek government has paid for imported medicines with bonds due in a few years since the spring. But many firms receiving these sold them at a big loss, the paper said.
Erbitux is approved for use in many countries and carries indications for colorectal and head and neck cancers. It is Darmstadt-based Mercks second most important drug, the paper said.
Merck is not the only company to stop selling pharma products to Greece. Biotest halted sales of a blood plasma product in June due to millions of euros in unpaid invoices.
Mercks Finance Chief Matthias Zachert told the Börsen-Zeitung financial paper that other crisis-ridden countries had made progress. He said the Spanish government has taken action to reduce its debt to pharma firms.
Here we see what can happen when you turn over responsibility for your own life to the government.
The government cannot fulfil insatiable demands for medical care or any other entitlement. But politicians promise everything, in return for a bit of power.
I wonder if Fat Boy Moore is aware of yet another success story for government run healthcare ... sounds like the new government healthcare death panels will be panels of government bureaucrats and private bankers!