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65992 1510824253HCLSReviewUkraineNovember2017.pdf
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Staying the Course in Greece

Despite the difficulties of the financial crisis and subsequent austerity legislation, pharma firms implanted in Greece have nonetheless continued to exhibit great commitment and staying power.

“Regardless of the challenges posed by the financial squeeze, most actors are perceptive of the underlying potential of this important market and acknowledge that there are no shortages of patients with inelastic needs that need responding to,” reflects Merck’s Konstantinos Kofinas noting that “the big multinationals have not been panicking and resorting to large-scale layoffs or fleeing the market.”

Amgen’s Matti Arvela reasons that firms will always be loath to retracting products from the market unless they consider it absolutely necessary because “once you’ve taken a drug out of the market, it typically takes more than double the time of the retraction for products to be reintroduced, and that’s not counting the additional complication of needing to re-instill the trust of the consumer.”

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