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However, the industry's performance during the
past few years creates valid hopes that it will
manage to weather the storm, since this is a sec-
tor that invests in new technologies, has high
quality human resources, exports to more than
100 countries, and enjoys one of the most
advanced and comprehensive distribution net-
works in Europe.
The map of the Greek pharmaceuticals industry
in 2011, and in particular in May, comprised 427
suppliers (pharmaceutical manufacturers, com-
mercial subsidiaries and importers), which distrib-
A
s stressed in a press release by the
Hellenic Association of Pharmaceutical
Companies (SFEE), the smooth operation
of the pharmaceutical products' distribution chain
has been totally disrupted owing to the recession
and the consequent lack of liquidity, while the
“bonds that the government issued to pharma-
ceutical companies in settlement of their overdue
claims are currently at risk of becoming worth-
less” due to the PSI scheme, leading to catastro-
phe, as many companies will be “be facing the
spectre of going out of business”.
Trade with Greece
66
Pharmaceuticals:
one of the most
dynamic sectors
of the Greek
economy
By Thanassis Heliodromitis