Pharmaceutical Trade Association: Greek Medicine Supply May Be At Risk

Life-saving medications could be an import at risk if Greece defaults on its debt and exits the European Union.

Richard Bergstrom, the director general of the European Federation of Pharmaceutical Industries and Associations (EFPIA), sent a note to the European Union Health Commissioner Vytenis Andriukaitis on Monday notifying him that pharmaceutical companies would continue to send drugs to Greece but felt the supply could be in peril if Europe doesn’t take action soon. 

The EFPIA believes the “integrity of the medicines supply chain may be in jeopardy” if Greece reintroduces the drachma, a form of currency whose value will swiftly depreciate, according to Hirschler.

This event would cause what Reuters calls an “arbitrage opportunity” where traders can re-export medications to other countries.

Hirschler also notes the supply of medicines “could also be at risk from a more general breakdown in trading systems, since the Greek medicines supply chain is complex...

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