Thanks to a more stable macroeconomic and political footing than at any time in the past 15 years, Greeks once more have cause for cautious optimism about their country’s direction of travel. Many of the half a million educated young people who left the country in search of opportunities elsewhere during the crisis are returning, while Greece’s network of local industry – much of which has simply been focused on survival since 2008 – is now looking to advance, diversify, and internationalise.
This is especially true of the country’s local pharma manufacturers, where stakeholders are hopeful that Greece capitalises on its opportunity to establish itself as an essential medicine hub for Europe post-COVID. Baby steps have also been taken towards creating the fundamentals for more investment from the global innovative industry, including in terms of manufacturing as well as clinical trials and shared service centres.
Nevertheless, as this new edition of Healthcare & Life Sciences Review: Greece 2023 clearly shows, the low levels of funding allocated to Greek healthcare, as well as the punishingly high rebates and clawbacks to which companies operating in it are subjected, mean that the country’s opportunities for growth in this field are severely restricted. Through interviews with leading lights from local champions, innovative multinationals, association heads, medical device players, and government stakeholders, a picture emerges of a country that in many ways is ready for take-off but which – for now – remains on the runway.