By G. Sakkas
The level of a “clawback” and rebate paid by pharmaceutical companies back to the Greek state over the 2012-2018 period has reached 5.3 billion euros, part of desperate bailout-related measures to slash and rationalize spending.
Despite the deep cut in pharmaceutical companies’ turnover and profit margin, the entire sector appears to exhibit resistance, according to a study by IOBE. The latter estimates the sector’s contrubtion to the country’s at 6.1 billion euros, or 3.4 percent of GDP, based on the latest available figures from 2017.
Rebates in 2019 are estimates at 1.4 to 1.5 billion so far.
Clawback is the amount that pharmaceutical firms must return to the state when public spending on prescribed drugs exceeds the pre-budgeted figure.
