Over-taxation 'killing Greek pharma industry'

9 October 2017

The level of rebates and claw-backs that pharmaceutical companies in Greece are required to pay is unique by European standards and indicative of the over-taxation that is killing the industry.

Based on data collected by the Greek pharmaceutical industry trade group SFEE from 10 national industry associations in European countries, pharmaceutical companies in Greece contribute 27.3% of total public pharmaceutical spending, compared with a European average of 8.6%, as shown in the following table:

Country	Combined Rebate & Claw-back (EUR millions)	Percentage contribution of industry to total public pharmaceutical expenditure
Germany	5,559	13.3%
France	1,637	6.0%
Italy	1,401	7.4%
Average	1,168	8.6%
Greece	946	27.3%
Spain	500	3.1%
Romania	243	7.8%
Portugal	161	6.6%
Ireland	51	2.9%
Sweden	16	0.8%
Netherlands	–	0.0%

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK