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Effects Of Deficit Reduction In Greece

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Insulin giant pulls medicine from Greece over price cut

The world's leading supplier of the anti-diabetes drug insulin is withdrawing a state-of-the-art medication from Greece.Novo Nordisk, a Danish company, objects to a government decree ordering a 25% price cut in all medicines.A campaign group has condemned the move as "brutal capitalist blackmail".

The Danish chairman, Lars Sorensen, wrote to Mr Panayotacos stressing that it was "the irresponsible management of finances by the Greek government which puts both you and our company in this difficult position".

Will we see this behaviour in UK?very scary could be a big problem because UK has about 2.3 million diabetes sufferers. :unsure:

Full BBC article is here http://news.bbc.co.uk/1/hi/world/europe/10189367.stm

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Its enough to make you sick.

No it's basic economics.

Why would they agree to supply Greece at a loss?

And to be fair to them, they've agreed to provide an OLDER far cheaper drug to Greece for free at the same time.

All those of you who were saying Greece should default and say nuts to the outside world... THIS SORT OF THING IS WHY THEY DON'T WANT TO.

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All those of you who were saying Greece should default and say nuts to the outside world... THIS SORT OF THING IS WHY THEY DON'T WANT TO.

Why? If they defaulted they'd be able to afford to pay full price wouldn't they?

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Why? If they defaulted they'd be able to afford to pay full price wouldn't they?

They owe the drug company $36m.

I can't see the drug company being prepared to offer them medication on anything but "cash-in-advance" terms in future, and the pharm firm will need to raise their prices to recover that $36m over the next few years.

I always say that eventually you have to pay the piper. You can't just walk away from debts without SOMEONE suffering, and it will never be who you expect.

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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