NEWS

Drug firm chief warns Greece over payments

The chief executive of Swiss drug firm Nycomed SCA has warned that Greek hospitals could face medicine shortages if the government continues to fall behind with payments.

?This is a major issue,? Hakan Bjorklund told the Wall Street Journal in an interview yesterday. Greece started paying pharmaceutical firms with government bonds since last year.

?In reality, this means we?re not getting all of the money they owe us. If the situation gets totally out of hand and we don?t think we will get paid in the end, we simply cannot continue to deliver products.?

Nycomed generates revenues of between 30 and 40 million euros a year in Greece, according to the WSJ.